Tom Siloff, a well -known analyst, confirms that XRP has formed a cup and drawing in the daily time.
The market commentator revealed this in one of his last XRP Analyzes as a price continued to consolidate around key levels. For the context, since on February 15 $ 2.83 decreased from the maximum, XRP fought with bears from $ 2.4 to $ 2.7, trying his best to ensure a breakthrough, but supporting serious support.
Data from 1D diagrams show that this phase of consolidation is part of a wider market structure. This short structure began when XRP collapsed from previous maximums above 3 dollars How bear forces withdrew control over the stage in early February.
XRP forms a cup and drawing
In particular, the XRP fell from the top of about $ 3.21 on January 28, retaining a decline until it reaches $ 2.26 on February 7. From this level, Altcoin became a witness to consolidation, since the pressure of the sale was reduced. This phase, associated with the range, lasted until the restoration arose on February 12, which reached the XRP to the maximum $ 2.83 February 15.
It is interesting that this is a price action from January 28 to February 15 with the participation of a gradual, but cool fall, Phase of consolidationAnd subsequent Recovery led to Formation cup. This is the first template This appearsBy signaling that the market is on the verge of the formation of a cup and a handle structure.
It is expected that a wider structure, in the visible, has been materialized over the past few days. With the last rollback of $ 2.83 and subsequent consolidation from $ 2.4 to $ 2.7, XRP has formed a pattern of a cup handle and a handle design.
Pointing to this structure, Siloff asked his audience where They think The price can go from this level. For uninitiated, the pattern of a cup and handle, as a rule, is a bull and a continuation scheme with a larger rounded cup and a smaller, often inclined handle.
XRP Eyes $ 3.36 as a breakthrough target
It is noteworthy that the pen is often a short period of consolidation before the breakthrough. Nevertheless, this breakthrough occurs only after the price has broken above the resistance of the handle. In this case, the resistance of the handle can Lie on the key $ 2.7 price brand.
Nevertheless, if this breakthrough occurs, it remains unclear how much XRP can rally. In the future disclosure, Siloff asked a question to the High Gorka Chatbot. According to Gorka, assets are often rallying 20-30% of the cup breakthrough and handle structure.
Traditionally, shares or cryptocurrencies (for example, $ XRP), forming a cup and a handle diagram, can increase by 20-30% from the breakthrough point, based at the depth of the cup projected up from the resistance level, potentially aiming by $ 3.36 (increase ~ 25.37% compared to $ 2.68).
– Tom Siloff (@realthomsieloff) February 21, 2025
Referring to these data, AI Chatt predicted that XRP may rally 25.37% with the proposed breakthrough point of $ 2.68, in fact, demanding the price of $ 3.36. The last time XRP saw that the mark of $ 3.36 was January 20, but the assets were faced with intensive resistance At that timeThe decisive impetus field could this time support the price level.
Currently, XRP passes into hands at the level of $ 2.56, falling to a scale of 4.41% on Friday, February 21. Pressure of recovery can allow him to re -check The resistance of $ 2.68, striving to break the handle template. Polly market analyst already Waiting The race is up to $ 6 this month, as soon as the recovery impetus occurs.
