The post Market Veteran Predicts XRP Price If Ripple Completes Cup and Handle Pattern appeared on BitcoinEthereumNews.com.

XRP price has lost momentum lately as crypto investors have remained in the sidelines, with Bitcoin struggling to move above $100,000. Nonetheless, one crypto market veteran believes that the Ripple (XRP) price may soon surge to new highs if it completes the formation of a cup and handle pattern. XRP Price May Hit New Highs as Cup and Handle Pattern Forms In an X post, Ali Martinez, a popular crypto market veteran, predicted that the ongoing XRP price consolidation was strategic. He believes that the coin is in the process of forming a cup and handle (C&H) pattern on the 30-minute chart.  A C&H pattern is a continuation sign made up of three key parts: a rounded bottom, a horizontal resistance joining the two key swings, and a handle. In most cases, this pattern leads to a strong bullish breakout when the handle section concludes,  In XRP’s case, the upper side of the cup is about $2.6752, while the lower side is about $2.26. This means that this cup has a depth of about 15%. By measuring the cup’s depth and extrapolating the figure from the upper side, Martinez estimates that the XRP stock price will jump to $3.35, much higher than the current $2.67.  XRP Price Forecast Ripple Price Has Numerous Bullish Catalysts Fundamentally, XRP price has numerous bullish catalysts that may push it higher in the coming months. Odds of a spot Ripple ETF approval are rising, a move that JPMorgan estimates will lead to over $8 billion in inflows in the first year.  Further, the XRP Ledger ecosystem is starting to boom, a move that may see it compete more with the likes of Solana and BNB Chain. Some of the top players of its ecosystem are XRP Army, Ripple USD, and Coreum. XRP price may benefit…

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Filed under: News - @ February 17, 2025 6:27 pm