XRP, goes to $12...Two-digit rally expected amidst Cup and Handle breakout signal ↑

▲ XRP/ChatGPT generated image

XRP has formed a Cup and Handle pattern on its long-term chart, raising the possibility of entering a two-digit price range. Analyst Celal Kucuker analyzed that XRP is forming a large bullish structure on the weekly chart and could rise to $12.10, which is the 1.618 Fibonacci extension level.

The Crypto Basic reported on the 13th that Kucuker evaluated the current XRP chart as “the best XRP chart” via X (formerly Twitter). His analysis is based on XRP forming a large Cup and Handle pattern on the weekly chart after a breakout rally in late 2024. This structure, which follows a rounded bottom with a downward-sloping correction phase, is generally interpreted as a bullish continuation pattern.

According to the article, XRP fell approximately 70% from its high of $3.65 to $1.11 before rebounding. It subsequently tested the $1.50 range several times but met resistance. Kucuker believes that if the upward momentum is maintained, XRP could enter a stronger breakout phase in the coming months.

Key resistance levels were presented as $1.74 and $3.65. $1.74 is the first major resistance level coinciding with the Fibonacci 0.618 retracement, and $3.65 was mentioned as the previous cycle high and a critical breakout point. Kucuker analyzed that if XRP overcomes these strong resistances, the door to a two-digit price range could open.

The long-term target price is $12.10. This price coincides with the 1.618 Fibonacci extension level and represents over 225% upside potential from the current price range. The Crypto Basic reported that XRP has recently been trading around $1.45, having risen 1.87% in the last 7 days and 9.83% in the last month.

Other analysts also mentioned the possibility of an XRP breakout. Trader Michael XBT predicted that XRP's parabolic rise could begin soon, with the potential for a new all-time high this year. He presented the narrowing price structure of XRP as a signal of an imminent breakout.

Michael XBT believes that XRP could first head towards the $2 mark and then move to higher price levels later in the cycle. He analyzed that the range between $1.80 and $2 is a key resistance zone, and a breakout above this range could lead to $3 and new price discovery. He also claimed that XRP has the potential to reach a new all-time high above $4 this year.

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