XRP Poised for a Major Move
XRP is forming a potential cup and handle but must break the $1.16 resistance level to move higher.
On XRP’s 15-minute chart, a cup-like pattern is beginning to emerge. Following an earlier decline, the price entered an extended recovery phase, forming a rounded bottom before returning close to its recent local highs. The key level to watch is resistance around $1.16, which marks the upper boundary of the developing pattern.
Sellers stepped in near this resistance, preventing XRP from confirming a breakout so far. The current pullback could begin forming the “handle,” provided it remains relatively shallow and does not disrupt the short-term bullish structure. A candle close above $1.16, preferably accompanied by higher trading volume, could confirm the pattern and pave the way for further gains. However, another rejection at this level would increase the risk of prolonged consolidation or a deeper correction.
Selling activity currently dominates across the largest exchanges. Sell orders account for 55.68% of total active volume, compared with 44.32% for buy orders. The strongest selling pressure can be seen on KuCoin, where sell orders represent 64.13%, and Bitget, at 57.84%. Gate is the only exchange where buyers hold a slight advantage, accounting for 51.48%.
These figures suggest that market participants remain cautious, which could make it more difficult for XRP to break above the $1.16 resistance level. However, this does not mean that most investors are holding short positions. The data reflects buying and selling volume rather than the number of open positions.
XRP’s long-to-short ratio remained below 1 for most of the period under review, indicating that active selling continued to outweigh buying. Buyers briefly gained ground, but the increase was quickly reversed. Despite temporary shifts in sentiment, sellers therefore remain in control.
Trading Scenarios
Bullish scenario: If XRP forms a handle following the current pullback and then breaks above and holds the $1.16 level, the cup-and-handle pattern could be confirmed. An increase in trading volume would further strengthen the chances of continued gains.
Consolidation scenario: If XRP fails to break through the $1.16 resistance level but remains above $1.08, the price may enter a period of consolidation and trade between these levels until a stronger catalyst emerges.
Bearish scenario: XRP may fail to form a handle or continue falling after a brief pullback instead of returning toward resistance. A move below $1.08 would weaken the setup and could invalidate the pattern, increasing the risk of a decline toward $1.01.
Disclaimer: This material is provided for informational and educational purposes only. It does not constitute investment advice or a recommendation to buy, sell, or trade cryptocurrencies. The cryptocurrency market is highly volatile. Every investment decision should therefore be based on independent research and take into account the risk of losing capital.
