XRP is approaching a critical inflection point as price action converges with key trend lines, Fibonacci levels, and a forming cup pattern, according to chart analyst DefendDark.
The setup suggests a potential breakout as tension builds within a compressed technical structure.
The Exponential Moving Averages (EMAs) are tightly aligned, and price is squeezed against a descending resistance trend line.
Additionally, the chart highlights the interaction with the Ichimoku Cloud zone, further emphasizing the narrowing range. Dark Defender notes that the “cup is hot,” signaling that a strong directional move could be imminent.
Key Levels to Watch
- Support: $2.0706
- Short-Term Targets: $2.22 and $3.61
The price is currently hovering near the $2.07 support, with significant upside potential if the trend breaks to the bullish side. The chart indicates a likely “cup and handle” pattern formation, with a possible breakout aligning with the cup’s surface and a Fibonacci retracement level.
Decision Point Approaching
The alignment of trend lines, Ichimoku signals, and EMAs has created a high-stakes technical tension zone. As @DefendDark notes, “Get ready for the decision”—a breakout could ignite rapid price movement toward the projected targets.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/xrp-chart-forms-hot-cup-pattern-major-move-incoming/