This XRP Cup and Handle Chart Sets Price for $60

Crypto analyst CryptoBull has shared a new technical outlook on XRP, stating that the digital asset is forming a cup and handle pattern on the monthly chart.

In a brief post, he wrote, “#XRP Cup and Handle on the monthly chart. Measured price target is $60.” The statement was accompanied by a chart illustrating a large-scale bullish continuation structure developing over several years.

The attached image displays XRP’s monthly price action against the U.S. dollar on Bitstamp. The chart outlines a broad, rounded base, representing the “cup,” followed by a smaller consolidation phase near the upper boundary, forming what is described as the “handle.” CryptoBull highlights this classical technical pattern as the basis for his projected move toward the $60 level.

Breakdown of the Chart Structure

In the chart shared, the left side of the cup traces back to XRP’s previous all-time high region before a prolonged decline. The rounded bottom spans multiple years, reflecting an extended consolidation phase. The right side of the cup shows a gradual recovery toward prior highs, culminating in a strong upward movement.

Near the top of the structure, a smaller pullback is marked, representing the handle portion of the formation. According to traditional technical analysis principles, a confirmed breakout above the handle’s resistance level can lead to a price move equivalent to the depth of the cup. CryptoBull’s projected $60 target appears to be derived from this measured move calculation applied to the monthly timeframe.

The chart includes a clearly labeled “Target Price: $60” annotation positioned above the projected breakout area. By emphasizing the monthly timeframe, CryptoBull indicates that the formation is long-term.

Community Reactions to the Projection

The post drew varied reactions from market participants. One user, James Stephens, expressed skepticism, writing, “lol yea no it won’t, be nice but if heard that for years now. When it does it does.” His comment reflects a cautious stance, referencing repeated high-price forecasts that have circulated in previous market cycles.

Another commenter, Wizard of Rules, took a more optimistic but tempered view, stating, “50 dollars I’d be super happy.” This response suggests that while some investors may consider $60 ambitious, they still view substantial upside as plausible.

CryptoBull’s tweet did not include additional commentary beyond identifying the pattern and its corresponding measured target. The analysis is based solely on the visual interpretation of the cup and handle structure on XRP’s monthly chart.

As with all technical projections, the realization of the $60 target would depend on confirmation through sustained breakout and market conditions aligning with the pattern’s expectations. For now, CryptoBull’s post presents a long-term bullish scenario based on classical chart analysis principles applied to XRP’s highest timeframe view.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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