XRP Completes Cup-and-Handle — Fibonacci Targets to $56.73 Signal Bullish Breakout
Crypto analyst Dark Defender identifies a long-term cup-and-handle completed on XRP’s chart and signals a potential major bullish breakout if the neckline holds. The setup formed after multi-year accumulation following the 2017 rise, with the handle developing post-2021 peak. A key resistance (yellow) has been cleared and XRP has found support on an orange trendline, creating a base for further gains. Primary support levels cited: $0.56, $0.80, $1.20 and $1.43; recent price action tested near $1.20 but remains above $0.80. Dark Defender calculates Fibonacci extension targets from the cup depth at 261.8% = $5.85, 361.8% = $18.22, 423.6% = $36.76, and an extended 461.8% = $56.73. Earlier commentary noted a neckline around ~$1.90–$2.10 and listed nearby supports at $1.88 and $2.10; at the time XRP was trading near $2.10 just above the neckline. Traders should watch confirmation above the neckline and sustained support holds for a validated breakout. This is technical analysis, not investment advice.
Bullish
The combined articles present a consistent technical view: a long-term cup-and-handle has formed and price has cleared a key resistance and found follow-through support. In technical trading, completing and confirming a cup-and-handle (neckline breakout plus subsequent support hold) is a bullish continuation pattern with measured upside. The multiple Fibonacci extension targets provide staged upside levels traders can use for position sizing and profit-taking ($5.85, $18.22, $36.76, $56.73). Short-term implications: price may see a volatility increase as traders test the neckline and support bands; failed holds at $1.20–$1.43 or the previously noted $1.88–$2.10 area would signal pattern invalidation and could cause rapid downside. Longer-term implications: if breakout confirms and macro liquidity remains supportive, the pattern implies material upside potential relative to current price, attracting momentum traders and larger position flows. Risk factors include lack of confirmation, broader market weakness, or rapid profit-taking at early Fibonacci targets — all could limit upside or produce corrective pullbacks. Overall, the technical setup is bullish for XRP conditional on confirmed neckline support and sustained momentum.