A classic cup-and-handle pattern has emerged on the daily chart of XRP/USD, a formation historically associated with powerful breakouts. If confirmed, this setup could propel XRP toward the $8-$9 range in the coming months, potentially rewriting the current market narrative.
### Short-Term Battle Near the $3 Mark
The short-term picture shows a battle between bulls and bears near the $3 mark. Institutional activity, ETF inflows, and favorable regulatory tailwinds may soon tilt momentum decisively in favor of the bulls, setting the stage for a significant price advance.
### Cup-and-Handle Pattern Points to $8-$9
Technical analysts are closely monitoring the cup-and-handle structure forming on the XRP/USD chart. First popularized by William J. O’Neil, this pattern often signals a bullish continuation when the price breaks above the handle’s resistance.
XRP’s cup-and-handle pattern is nearing completion, with analysts eyeing a potential breakout toward the $8-$9 range. The price is currently just below the key breakout zone of $3.08-$3.20. A sustained close above $3.20 would validate the pattern, opening the door for a measured move toward the $8-$9 target, one market analyst noted.
Historically, similar setups in both equities and cryptocurrencies have preceded sharp rallies, lending weight to this bullish projection.
### XRP Price Today Holds Key Support
On the daily chart, XRP is oscillating between the 0.382 Fibonacci retracement level at $2.97 and the 0.5 retracement level at $3.19. The 20-day Exponential Moving Average (EMA) is currently positioned at $2.99, acting as immediate support, while the 50-day EMA at $2.95 offers additional reinforcement.
At press time, XRP was trading around $2.97, down 0.40% in the last 24 hours. A push above $3.05 would bring the $3.12-$3.20 zone into focus, while losing $2.95 could pull the price back toward $2.83, where the 100-day EMA sits.
### Institutional Activity and ETF Momentum
Fundamental developments are supporting the bullish narrative for XRP. Recently, Ripple announced that BDACS Korea, one of the country’s licensed crypto custodians, has integrated Ripple Custody to provide secure institutional access to XRP and tokenized assets. This move marks another step in Ripple’s strategy to drive adoption across Asia, one of the fastest-growing markets for blockchain-based settlements.
Meanwhile, newly launched XRP ETFs have attracted significant inflows, with $54.7 million traded on the very first day alone. Whale accumulation in the $2.70-$2.84 range suggests that large holders are positioning ahead of a potential move higher, adding to the bullish undertone.
### Regulatory and Market Sentiment
Regulatory clarity continues to influence price expectations. Ripple’s partial legal victory in the XRP SEC lawsuit in 2023 confirmed that XRP is not a security in retail transactions, removing a major overhang for the market.
However, analysts caution that unresolved issues around institutional sales and potential appeals still carry some risk. Judge Torres has issued the final ruling in the SEC vs. Ripple case, ordering a $125 million payment while confirming XRP is not a security.
Analyst Dr. Jim Willie recently suggested that banks may be deliberately keeping XRP’s price subdued to accumulate tokens at discounted levels before XRP becomes a core settlement asset in the global financial system.
### Short-Term XRP Price Forecast
In the near term, XRP’s price prediction hinges on whether buyers can reclaim the $3.08-$3.20 zone. If successful, technical models point to an advance toward $3.30-$3.46, with the potential for a larger breakout as the cup-and-handle formation matures.
XRP has broken out of its long-standing downtrend, forming higher highs and lows that signal renewed bullish momentum and rising demand. On the downside, support levels around $2.73 and $2.58 could act as last lines of defense.
While the $8-$9 target remains on the table, analysts stress that favorable market cycles and macroeconomic conditions will need to align for that move to materialize.
### Outlook: Will XRP Go Up?
As long as XRP holds above $2.95, the broader technical picture favors the bulls. Institutional demand, ETF flows, and growing use cases on the XRP Ledger create a supportive backdrop for potential price expansion.
Near-term volatility remains a risk, but many traders see the current period as accumulation before the next leg higher. If the breakout above $3.20 confirms, XRP could finally break free from its multi-year range and set its sights on the $8-$9 zone — a move that would mark one of the most significant rallies since its all-time high.
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