XRP News Today: XRP Cup-and-Handle Pattern Targets 60% Surge to $5.18, Supported by $3.25 Base and Growing ETF Demand

Ripple’s XRP has formed a bullish cup-and-handle pattern, signaling potential for a significant price increase toward $5.1783, or approximately 60% above its current level of $3.25. The pattern, a technical analysis formation indicating continuation of an upward trend, developed after XRP bottomed at $1.6173 in April and surged to a record high of $3.6552 in recent weeks [1]. The handle phase of the pattern, marked by a recent pullback, has consolidated above critical support levels, including the 50-day and 200-day Exponential Moving Averages, reinforcing the strength of the rally [1]. Analysts note that XRP must remain above $2.6470, a key swing high from May 12, to maintain the pattern’s validity [1].

The price action is supported by broader market dynamics. Futures open interest for XRP has surged to $9 billion, a stark increase from June’s lows of $4 billion, reflecting growing speculative demand [1]. Concurrently, the futures weighted funding rate has turned positive since June, indicating investors anticipate higher prices. Derivatives-based ETFs such as Teucrium’s XXRP and ProShares’ UXRP have attracted $383 million and $95 million in assets, respectively, highlighting institutional confidence in the token ahead of potential SEC approval for spot ETFs [1].

Ripple’s ecosystem also benefits from the rising adoption of its RLUSD stablecoin, which has accumulated over $550 million in assets and is closing the gap with PayPal’s PYUSD [1]. This growth underscores XRP’s expanding utility and could drive further demand for the token. Technical analysts have highlighted a lower low in the stochastic RSI as an additional confirmation of the pattern’s strength, further aligning with the projected $5.20 target [2].

While the $5.1783 level remains speculative, the convergence of technical, futures, and ETF-driven factors creates a compelling case for continued upward momentum. Market participants are advised to monitor XRP’s ability to hold above $2.6470 and the trajectory of open interest as key indicators of the pattern’s success [1].

Sources:

[1] [title1: XRP price path to $5.20 gets clearer as cup-and-handle forms] [url1: https://crypto.news/xrp-price-path-to-5-20-gets-clearer-as-cup-and-handle-forms/]

[2] [title2: Instagram video by Lisa Ward Green] [url2: https://www.instagram.com/reel/DMnJCrBNA9Y/]