Ripple Technical Analysis: 17 MAR 2025
XRP in a cup and handle formation. Source: TradingView
General View
XRP is forming a potential cup and handle pattern, signaling a bullish structure in development. Bulls are gradually building momentum, attempting to establish strength for a push higher. However, the price remains near the mid-range level, making it a key pivot zone. If buyers maintain control and push past resistance, a continuation toward the range highs could materialize.
On the Upside
The first key challenge for XRP is reclaiming the mid-range level at $2.39. A sustained breakout above this area would set the stage for the test of neckline levels of the cup and handle pattern at $2.450 and $2.480. A strong break above these levels, followed by a solid hold above the range mid-level, would mark a significant turning point, confirming the pattern. Beyond this, the next range to look at is the range highs at $2.90.
On the Downside
XRP is establishing intra-day supports at $2.32 and $2.28 levels. These levels are important for the day. Additionally, bulls need to surpass the mid-range, however, If bulls fail to maintain momentum and lose grip on the mid-range support, XRP could see renewed selling pressure. The selling would once again expose $2.28, a short-term support level. However, a deeper decline at that stage could be on the cards.
XRP once again approaching the mid-range level. Source: TradingView
