XRP is back in focus as veteran trader Peter Brandt shared a chart suggesting the cryptocurrency may be forming a cup-and-handle continuation pattern, with $1.6572 marked as the key resistance to watch. XRP currently trades around $1.52 after recovering from August lows near $1.00. The initial leg of the potential structure came from an August breakout that carried XRP toward $1.70, followed by a correction to roughly $1.27 in mid-September and a subsequent rebound into the $1.60–$1.65 area. Since then, XRP has consolidated near $1.50, which analysts view as a possible handle formation, though the pattern remains unconfirmed while price sits below the $1.6572 trigger.
Technical indicators are giving a cautiously bullish picture. XRP is holding above its major moving averages, with short-term support around $1.45 and a broader support cluster near $1.35–$1.40. The descending trend line that constrained the token during September has been broken, and the RSI is in neutral-to-bullish territory rather than overbought. However, multiple upper wicks around $1.65–$1.66 show that sellers remain active. A convincing daily close above $1.6572 would strengthen the cup-and-handle interpretation and could reopen the August high near $1.70, with the psychological $2.00 level becoming relevant thereafter. Failure to break resistance could expose support at $1.48–$1.50 and then $1.45.
Other analysts are watching a similarly tight setup. Ali Martinez pointed to a narrowing triangle and said a 4-hour close above $1.53 could confirm a bullish breakout toward $1.62, while noting that whales have been largely sidelined. Celal Kucuker estimates a 65%-70% probability of an upside breakout versus 30%-35% for a move lower, though he cautioned that the RSI is still below 50. Meanwhile, CryptoQuant's CW said smaller investors have been accumulating for seven consecutive days and the phase has not yet finished, adding that strengthening MACD and EMA trends support developing bullish momentum. Long-term XRP bull Dark Defender outlined an Elliott Wave scenario targeting $4.10, then $7.07 and eventually $36.76, arguing that XRP has completed Wave 1 and is progressing through Wave 2.
