XRP technical setup dey aim pass $8 as cup-and-handle dey form
Crypto analyst ChartNerd dey talk say XRP technical setup still dey follow 8.5-year cup-and-handle pattern, so long-term upside fit reach above $8+ even if price go pull back first. XRP dey trade near $1.50 resistance area, while key Fibonacci support dey around $0.89 (fit go down to about $0.61) plus one “Gaussian” support curve wey dem don retest near previous cycle bottoms.
Traders suppose watch two zones: $1.50 for neckline-style confirmation and the $0.89–$0.61 area for structure support. E possible make dem do deeper shakeout, but ChartNerd argue say e no likely break the broader bullish XRP technical setup if dem supports hold.
If the pattern complete and XRP clear resistance, extension targets dey discussed above $8, fit stretch to about $13 and $27. Positioning dey described as mixed-to-supportive, with “whales” dey accumulate, while derivatives dey show cooling (open interest dey drift to baseline), wey some traders dey interpret as leverage resetting before bigger move.
Bullish
Both summaries hold di same core thesis: ChartNerd technical setup for XRP still bullish as price dey test long-standing support. Di later update add clearer framing of near-term risk (fit be deeper shakeout) without cancel di bigger cup-and-handle structure, and e repeat di main watch levels ($1.50 resistance and $0.89–$0.61 Fibonacci/Gaussian support). Whale accumulation dey cited as supportive, while derivatives cooling (open interest near baseline) dem treat as leverage reset no be full bearish confirmation.
For traders, di likely impact na tactical: short-term volatility fit rise round these levels, but structure confirmation if support hold and price reclaim/break above $1.50 go match di longer-term upside narrative toward $8+ and higher targets.