XRPUSDT – Double Bottom + Cup and Handle Pattern Signaling Bullish Reversal
The XRPUSDT 6H chart is showing strong signs of a potential bullish reversal. After a prolonged downtrend, price appears to have formed a double bottom near the key demand zone at 2.30 – 2.25, which is also the base of a developing Cup and Handle pattern.
✅ Key Analysis Points:
• Double bottom formation around the 2.30 level indicates strong buying interest and rejection of lower prices.
• The overall price structure is forming a Cup and Handle, a classic bullish continuation pattern.
• Clear CHoCH (Change of Character) confirms bullish momentum and possible trend reversal.
• Price is currently consolidating in the handle region with a potential breakout toward the 2.65 resistance zone (marked as “Weak High”).
• Trend model suggests a bullish trend supported by machine learning and optimal trend-following metrics.
📌 Confluence Factors:
• Demand zone support around 2.25–2.30
• Multiple CHoCH signals reinforcing bullish control
• Structure alignment with the Cup and Handle formation
• Parabolic move projection toward upper resistance area
🎯 Targets:
• TP1: 2.45
• TP2: 2.60
• TP3: 2.65 (Weak High area)
❌ Stop Loss:
• Below 2.25 support zone or under recent CHoCH lows
⚠️ Note: Watch for a strong breakout above the handle structure with volume to confirm the pattern. Failure to hold the 2.25 zone would invalidate this bullish scenario.
The XRPUSDT 6H chart is showing strong signs of a potential bullish reversal. After a prolonged downtrend, price appears to have formed a double bottom near the key demand zone at 2.30 – 2.25, which is also the base of a developing Cup and Handle pattern.
✅ Key Analysis Points:
• Double bottom formation around the 2.30 level indicates strong buying interest and rejection of lower prices.
• The overall price structure is forming a Cup and Handle, a classic bullish continuation pattern.
• Clear CHoCH (Change of Character) confirms bullish momentum and possible trend reversal.
• Price is currently consolidating in the handle region with a potential breakout toward the 2.65 resistance zone (marked as “Weak High”).
• Trend model suggests a bullish trend supported by machine learning and optimal trend-following metrics.
📌 Confluence Factors:
• Demand zone support around 2.25–2.30
• Multiple CHoCH signals reinforcing bullish control
• Structure alignment with the Cup and Handle formation
• Parabolic move projection toward upper resistance area
🎯 Targets:
• TP1: 2.45
• TP2: 2.60
• TP3: 2.65 (Weak High area)
❌ Stop Loss:
• Below 2.25 support zone or under recent CHoCH lows
⚠️ Note: Watch for a strong breakout above the handle structure with volume to confirm the pattern. Failure to hold the 2.25 zone would invalidate this bullish scenario.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.