CandleFocus XRP Rejected at $0.60, but Cup and Handle Formation Suggests Imminent Rally
2024-09-23
Author: Content Editor
XRP recently reached a one-month high of $0.6129 but faced rejection at the $0.60 level and is currently trading around $0.59. A cup and handle formation on the 4-hour chart suggests potential upside towards $0.70. Market analyst Steph believes that if XRP can maintain four-hour closes above the $0.59-$0.60 range, it could confirm a bullish trend continuation with a target of $0.69 to $0.70. However, XRP must first break through the $0.64-$0.65 zone, which has previously triggered rejection points. Legal expert Bill Morgan warns that XRP's failure to sustain its recent breakout indicates a possible drop below the 20-day EMA.
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