Ripple‘s XRP posted a 3.44% gain on Wednesday, rising to the $1.40 resistance level. If sustained buying interest follows, this key area could shift into a new support zone for the digital asset.
Cup and handle pattern points to double-digit targets
Cryptocurrency analyst Celal Kucuker, known for his technical charting, has identified a prominent cup and handle pattern in XRP’s longer-term price structure. Drawing from historical price movements, including the mid-2025 market downturn that shaped the base of the formation, Kucuker believes XRP could be poised for a significant rally.
He sees the potential for XRP to challenge a $10 target following a bullish reversal, stating that such a move is “definitely not a dream.” The analyst pointed to crucial Fibonacci extension levels at $2.4062, $3.6330, $6.8899, and $13.5687 as possible resistance points. He emphasized that for the higher price levels to become realistic possibilities, XRP must first break through and hold above $2.4062—a threshold derived from the standard methods traders use when applying Fibonacci extensions to gauge the next likely points of resistance or price stalling after a major impulse move.
“$10 is definitely not a dream..” Kucuker suggested, highlighting the cup and handle pattern and Fibonacci targets, but underscoring that clearing the $2.4062 resistance is essential for the next phase of the rally.
Mini dictionary: Fibonacci extension, a technical analysis tool used to project possible levels of support or resistance based on the size of a previous price move, often employed to estimate where an asset may face difficulty breaking higher or reversing direction.
| Level | Price | Status |
|---|---|---|
| Current resistance | $1.40 | Tested |
| Key breakout | $2.4062 | Needs to be surpassed |
| Fibonacci targets | $3.6330, $6.8899, $13.5687 | Potential next resistances |
| Long-term target | $10 | Speculative |
Volume surges as traders focus on bull run potential
Currently, XRP is forming the foundation of the cup and handle chart pattern. If the historical model plays out, Kucuker expects a long-term price target of $13.56, which would represent an increase of approximately 269% from XRP’s all-time high set at $3.65 on July 18, 2025. The token currently trades about 60% below that peak, increasing speculation that a reversal could develop.
In leveraged derivatives markets, bullish sentiment has become more pronounced. CoinGlass data shows XRP long positions have a slight edge over short positions, with the long/short ratio standing at 1.0178. This kind of slim margin is frequently seen as a catalyst for strong rebound rallies, as traders reposition in anticipation of major price shifts.
With $4 billion in daily derivatives trading on XRP compared to $2.6 billion in spot market activity, liquidity in leveraged markets currently outpaces that of traditional trading venues.
Derivatives market activity, which involves contracts whose value is based on XRP’s price, currently exceeds volumes on spot exchanges. This heightened interest in derivatives can often indicate growing investor appetite for risk and price movement.
Ripple, creator of the XRP Ledger and issuer of XRP, remains one of the most significant entities in the cryptocurrency sector, known for its cross-border payment technology targeting traditional financial institutions.
