XRP News Today: XRP’s Cup-and-Handle Pattern Signals $6 Target If ETF Hopes Materialize

XRP price is consolidating near $2.80, a key support level, as investors await potential catalysts that could drive a breakout. Technical analysis suggests that the asset is forming a classic cup-and-handle pattern, with the neckline resistance currently positioned near $3.55. This chart formation is often associated with a continuation of an uptrend following a period of consolidation. The pattern suggests that a sustained move above the $3.55 level could unlock significant upside potential, with price targets projecting as high as $6 in the coming months [1].

The current price action is supported by key indicators. The Relative Strength Index (RSI) has stabilized around 42, indicating that downward pressure has eased without the asset entering oversold territory. Meanwhile, Bollinger Bands have tightened significantly, signaling suppressed volatility—a condition often observed before upward price movements. The mid-band sits near $2.95, acting as a dynamic resistance for short-term trading [1]. Analysts have also noted that the falling wedge pattern observed between July and September suggests a bullish continuation, particularly if XRP can reclaim the $3.20 level, which would accelerate momentum toward the critical neckline [1].

Ripple’s prospects for an ETF approval have further bolstered optimism. The chances of regulatory approval for an XRP-based ETF now stand at 87%, according to recent market assessments. This development is significant as it could open the door for institutional adoption and broader retail interest. Ripple is currently under review by the SEC for 11 separate ETF applications, with a key decision expected by October. An approval would place XRP on a more equal footing with Bitcoin and Ethereum in terms of accessibility for institutional investors [1].

The potential impact of an XRP ETF approval is considerable. Projections estimate that an ETF could attract up to $5 billion in inflows within its first month, reflecting strong anticipated demand. Even in the absence of a formal ruling, the rising approval odds have already influenced market sentiment, supporting XRP’s ability to maintain strength at key support levels. This narrative has contributed to the current consolidation phase, with traders and investors closely watching for signs of a breakout [1].

Analysts highlight that the technical and fundamental factors are aligning in favor of a potential rally. A breakout above $3.55 would validate the cup-and-handle formation and trigger a wave of buying interest, particularly if the asset can maintain momentum beyond this level. The combination of a strengthening technical outlook and elevated ETF optimism creates a favorable environment for XRP to extend its current range and potentially test higher price targets in the near term [1].

Source:

[1] Ripple ETF Approval Odds Hit 87% As Market Bets On A Major Upside Shift (https://coingape.com/markets/ripple-etf-approval-odds-hit-87-is-xrp-price-ready-for-a-6-rally/)

[2] XRP Flashes Cup and Handle Pattern. Here's the Next Target (https://timestabloid.com/xrp-flashes-cup-and-handle-pattern-heres-the-next-target/)