Major XRP Signal: Peter Brandt Reveals Cup and Handle
Veteran trader Peter Brandt has drawn attention to XRP with a somewhat a cryptic chart, showing the 암호화폐's recent price structure alongside animage of a coffee cup. The implication appears straightforward: XRP may be developing a cup-and-handle-style continuation pattern, with $1. 6572 marked as the level to watch.
XRP currently trades around $1. 52 after a substantial recovery from its August lows near $1. 00. The first leg of the structure came from the explosive August breakout, which pushed XRP toward $1. 70 before a broad correction sent it back toward $1. 27 in mid-September.
The subsequent recovery is what makes Brandt's chart interesting. XRP rebounded rapidly toward $1. 60–$1. 65 and has since moved sideways around $1. 50. This consolidation could potentially serve as the "handle" portion of the formation, although confirmation remains absent while XRP trades below Brandt's $1. 6572 resistance.
The daily chart provides some support for the bullish interpretation. XRP remains comfortably above its major moving averages, including short-term support around $1. 45 and a cluster of longer-term averages around $1. 35–$1. 40. The earlier descending trend line has also been broken, removing one of the major technical barriers that constrained XRP throughout September.
Momentum is relatively healthy. The RSI sits in neutral-to-bullish territory rather than returning to the heavily overbought state seen during the August breakout. That gives buyers some room if another growth period starts.
However, $1. 65–$1. 66 remains the decisive barrier. XRP has already produced several upper wicksaround this area, indicating that sellers remain active. A convincing daily breakout above $1. 6572 would strengthen the cup-and-handle interpretation and could put the August high around $1. 70 back into focus. Beyond that, the psychological $2. 00 level would become increasingly relevant.
Failure to break resistance would leave XRP trapped inside its current range. Initial support sits around $1. 48–$1. 50, followed by approximately $1. 45. Losing those levels could invalidate the developing handle and expose the $1. 35–$1. 40 region.
For now, Brandt's cup reference looks less like a confirmed signal and more like a setup awaiting its trigger: $1. 65.
출처: U.Today