ChartNerd has flagged an 8.5-year cup-and-handle pattern on XRP, with Fibonacci extension targets of $8, $13, and $27. The call comes as XRP trades around $1.06, down about 2% over the past week and more than 6% over the past month. The token has fallen roughly 65% over the last year and remains nearly 71% below its all-time high of $3.65.
The 8.5-year pattern
ChartNerd's original roadmap toward the $1 area was mapped out when XRP traded near $1.80 to $2. The analyst now says XRP is nearing the 0.618 Fibonacci retracement level, which could support a move toward the extension targets. The pattern's long duration — stretching back more than eight years — suggests a potentially significant breakout if the setup plays out.
Key level at $1.06
Analyst Ali Martinez has identified $1.06 as a make-or-break level. Holding it could lead to moves toward $1.35 and $1.64. Losing it, he warns, could expose XRP to a drop toward $0.62. That's a wide range, and the token is currently sitting right on the line.
EGRAG CRYPTO, who maintains long-term targets of $15, $27, and above $50, noted that XRP has lost its 50-day moving average and is approaching the 100-day exponential moving average — a historically important long-term support level.
Short-term uncertainty
ChartNerd warned that short-term price action remains uncertain. The analyst presented a scenario where XRP consolidates around $1 for the rest of the year, similar to the bottoming process from June 2022. That would test the patience of bulls hoping for a quick breakout.
Trader CryptoBull dismissed lower short-term targets of $0.87 and $0.73, betting XRP will skip straight to $23. That's a bold call, but it's not backed by the same pattern analysis ChartNerd laid out.
The immediate question is whether XRP can hold $1.06. If it does, the cup-and-handle narrative gains credibility. If it doesn't, the next stop could be $0.62 — and the long-term pattern might take even longer to resolve.
