As the broader crypto market recovered, so did XRP. With several developments, ongoing and potential, affecting XRP price, some market experts have shared generous price predictions for the coin. That said, the coin has displayed gains and from a drop to $2.39 earlier yesterday to reach $2.51 and it held steady near this level over the last 24 hours. The U.S. President’s decision cut tariffs on Chinese imports by about 10 percentage points followed recent trade talks with Chinese President Xi Jinping. The markets viewed this as a sign of easing tensions between the world’s two largest economies. Meanwhile, a top expert trader and analyst revealed a cup and handle formation that has an XRP price prediction target of $9.
XRP Price Prediction: Cup & Handle Setup Eyes $9
According to top analyst Jack Rippler, XRP appears to be forming a cup and handle pattern on the daily chart. The altcoin spent several past months forming the round base of the cup and at the time of writing, the setup is near completion with the handle creating a tight downward-sloping channel that signals a breakout. During press time, XRP is trading around $2.51 and the coin holds potential to reach up to $8 – $9. That is, if the bulls manage to pull up a decisive breakout above the current level and trigger an uptick past the resistance level at $3.30. The upper target around $9 and $8 aligns with the height of the cup projected upward.
Moreover, the 200-day moving average continues to curve upward and support the overall bullish bias. Meanwhile, momentum remains strong amid steady expansion of daily trading volumes. As such, resolving the handle towards the upside is likely to cause a sharp price acceleration that could mark the beginning of a new multi-month macro uptrend. According to expert analyst Rippler, the launch of REAL token on the XRP ledger (XRPL) will unlock a large segment of the $650 trillion global real estate market. As real-world assets migrate to blockchain, XRP’s role as a bridge asset and settlement layer could gain significant traction.
$3.3 Is the XRP Price Resistance Level To Watch
Top market analyst EtherNasyonal highlights one of the most important principles in technical analysis: the more a resistance level is tested, the weaker it becomes. His latest XRP/USD chart perfectly captures this in action. Over the past several years, XRP has respected a wide consolidation range defined by major resistance near $3.00 and strong support around $1.90. This zone has acted as a battlefield between buyers and sellers, a long-term phase of re-accumulation following the explosive rallies and corrections of previous cycles. What stands out now is the tightening structure above major support. Bulls are happy that XRP has continued to hold ground in recent weeks despite a couple of pullbacks. It is therefore evident that bulls have done their best to absorb the supply which has further weakened the resistance levels. This is how markets prepare for major directional moves.
As EtherNasyonal points out, “When a resistance level is tested more than three times and the price continues to accumulate above strong support, that resistance is destined to break — sooner or later.” That’s exactly what this chart reflects. For now, the bulls are aiming to close above the major resistance at $3.3 and open the floodgates to a multi-year breakout rally. This could transform the said price hurdle into a strong support level that marks the start of a multi-month macro bullish stage.