Crypto analyst sees $2.50 price target for XRP after cup and handle breakout

Technical pattern signals upside for XRP

Steph Is Crypto, a market analyst known for chart-based evaluations of digital assets, presented a cup-and-handle formation on XRP’s daily chart in a recent post on X. The formation stretches across months of price activity, showing an initial decline from $1.50 to below $1.00 in August, followed by a steady recovery. The asset then approached the $1.50 zone again before retracting and forming the handle, according to the analysis.

The current chart displays XRP around $1.29, with the upper threshold of the pattern near $1.50. Steph Is Crypto’s projection suggests that a decisive move above this resistance area could propel the price toward $2.50 in the coming period.

Steph Is Crypto identifies a cup and handle structure in XRP, noting, “Price Target: $2.50” alongside the multi-month chart.

The cup-and-handle pattern is widely recognized in technical analysis as a bullish continuation signal, typically indicating that an asset could experience another upward move once the pattern completes. For XRP, this would require overcoming resistance at $1.50 and sustaining momentum above that level.

Mini dictionary: Cup-and-handle pattern, a technical analysis formation believed to indicate bullish momentum. The pattern features a rounded “cup” shape created by a decline, a recovery to the previous high, then a small downward “handle” before a potential breakout.

XRP faces key resistance level

According to the analysis, the $1.50 area serves as a crucial boundary. The projected move from roughly $1.38 to $2.50 would represent a substantial increase if the pattern follows through.

Steph Is Crypto emphasizes that $2.50 is a technical target based on the pattern, not a guaranteed result. The price must first achieve and hold above the $1.50 resistance level for the bullish momentum to validate the prediction.

The cup-and-handle pattern places $1.50 as the breakout point, with $2.50 as the next potential target if momentum continues.

Community debates impact of upcoming events

The analysis has sparked discussion among traders, some of whom remain cautious about relying strictly on technical indicators. One commenter, Raj, referenced a Senate vote scheduled for September 15 and an anticipated rate decision, pointing out that macro events may drive unpredictable price moves regardless of chart patterns.

Cassator Corp. viewed the projected price optimistically, noting that achieving $2.50 would help make recent periods of stagnant performance less difficult for holders.

By contrast, OKG Studio expressed skepticism, observing that traders have often cited similar cup-and-handle setups for XRP in the past without seeing the anticipated rally materialize.

For now, Steph Is Crypto’s analysis centers on whether XRP can clear the pattern’s upper boundary. Developments in monetary policy and market sentiment could ultimately determine whether the technical projection toward $2.50 is realized.