bullish

Dark

<ul class="wp-block-list news-points">
 <li>XRP has formed a bullish “Double Coffee Cup” pattern, signaling significant upward potential.&nbsp;&nbsp;</li>
 <li>The breakout from a multi-year triangle aligns with improving regulatory clarity and market optimism.&nbsp;&nbsp;</li>
 <li>Indicators suggest bullish momentum, but overbought conditions point to possible short-term pullbacks.&nbsp;&nbsp;</li>
</ul>
XRP is displaying a notable technical formation on its weekly chart. According to Dark Defender, a crypto analyst, he notes that XRP has formed a “Double Coffee Cup” pattern, a structure often linked to potential bullish trends.
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="526" height="673" src="https://coinedition.com/wp-content/uploads/2024/11/Screenshot_99.png" alt="" class="wp-image-548245" srcset="https://coinedition.com/wp-content/uploads/2024/11/Screenshot_99.png 526w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_99-234x300.png 234w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_99-380x486.png 380w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_99-70x89.png 70w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_99-348x445.png 348w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_99-193x247.png 193w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_99-188x240.png 188w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_99-129x165.png 129w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_99-165x211.png 165w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_99-55x70.png 55w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_99-59x75.png 59w" sizes="(max-width: 526px) 100vw, 526px">
 <figcaption class="wp-element-caption">Source: <a href="https://x.com/DefendDark/status/1858764636104917401" target="_blank" rel="noopener noreferrer nofollow">X</a>
 </figcaption>
 </figure>
</div>
This double-rounded bottom pattern, marked by blue and orange curves on the chart, indicates a prolonged consolidation phase that appears to be concluding. XRP has broken out above the Ichimoku Cloud, a bullish signal.
Dark Defender also highlights the new support levels of $1.03 and $0.95. These act as critical zones where buying interest may emerge during pullbacks. The analysis suggests XRP could reach $1.88, $3.09, and $5.85, with Fibonacci extension levels supporting these projections.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfU7yNqPXgtwSzAzbU0pRVUSH32qPto5038BsQBP9lXtP2eqmAeNRzlmrT5KtYw4dUbyoqnqDQrkjj4lHATDbgYERThCa8Faeu3Hzwn4H22rIewIny5TglURgJnGn-5nLeBTtqJ?key=ERE0RN7SWdHQT9KK0nFZtbGl" alt="">
 <figcaption class="wp-element-caption">Source: <a href="https://x.com/DefendDark/status/1858764636104917401" target="_blank" rel="noopener noreferrer nofollow">Dark Defender</a>
 </figcaption>
 </figure>
</div>
Notably, the 161.8% extension aligns with the $1.88 target, while the 261.8% extension points toward the …
The post <a href="https://coinedition.com/xrp-forms-bullish-double-coffee-cup-pattern-5-85-target-in-sight/" rel="noopener noreferrer nofollow">XRP Forms Bullish “Double Coffee Cup” Pattern, $5.85 Target in Sight?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

XRP Forms Bullish “Double Coffee Cup” Pattern, $5.85 Target in Sight?

Coin Edition

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