XRP Price Forms Double Coffee Cup Formation After Rally To $1 – Here’s What To Expect Next
An analyst reveals what’s next as the XRP price hits $1 and forms a rare Double Coffee Cup pattern, while WallitIQ (WLTQ) stands out due to its innovative wallet features.
Investors are now more optimistic about the XRP price potential due to its recent surge to $1. Further excitement has been generated by the discovery of an intriguing “Double Coffee Cup” pattern on the XRP price charts. A well-known analyst has explained what this Double Coffee Cup formation might mean for the XRP price. Meanwhile, WallitIQ (WLTQ), an Ethereum-based AI crypto project, is also brewing on the horizon due to its outstanding wallet features.
XRP Price Forms Double Coffee Cup, Targets $5.8
A crypto analyst known as Dark Defender has stated on X (formerly known as Twitter) that the Double Coffee Cup pattern has appeared on the XRP price chart. This rare Double Coffee Cup formation suggests a bullish breakout that could push the XRP price to significant highs.
The Double Coffee Cup is a double-rounded bottom pattern marked on the chart with blue and orange curves. This Double Coffee Cup pattern indicates that the XRP pruce has likely completed a prolonged consolidation phase.
The XRP price’s recent move above the “Ichimoku Cloud” bolsters this view, a key technical signal often associated with upward momentum.
In his price chart highlight the Double Cup Coffee pattern, the analyst has outlined two critical support levels for the XRP price: $1.03 and $0.95. These zones are likely to attract buying interest during any potential pullbacks. With bullish momentum intact, projections based on Fibonacci extension levels suggest that the XRP price could reach targets of $1.88, $3.09, and even $5.85.
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Conclusion
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This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.
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