XRP price forms a double coffee cup formation after rising to $1 – here’s what to expect next

An analyst reveals what’s next as XRP price hits $1 and forms a rare Double Coffee Cup pattern, while WallitIQ (WLTQ) stands out for its innovative wallet features.

Investors are now more optimistic about XRP price potential due to its recent rise to $1. Adding further excitement was the discovery of an intriguing “Double Coffee Cup” pattern on the XRP price charts. A well-known analyst has explained what this Double Coffee Cup formation could mean for the XRP price. Meanwhile, WallitIQ (WLTQ), an Ethereum-based AI crypto project, is also looming large due to its outstanding wallet features.

XRP price forms a double coffee cup and targets $5.8

A crypto analyst named Dark Defender explained on X (formerly known as Twitter) that the Double Coffee Cup pattern has appeared on the XRP price chart. This rare Double Coffee Cup formation suggests a bullish breakout that could push XRP price to significant highs.

The double coffee cup is a double rounded bottom pattern marked with blue and orange curves in the table. This Double Coffee Cup pattern suggests that XRP price has likely completed an extended period of consolidation.

XRP price’s recent move above the “Ichimoku Cloud” supports this view, a key technical signal often associated with bullish momentum.

In his price chart highlighting the Double Cup Coffee pattern, the analyst has outlined two critical support levels for the XRP price: $1.03 and $0.95. These zones are likely to generate buying interest in the event of potential setbacks. With bullish momentum intact, predictions based on Fibonacci extension levels suggest that XRP price could reach targets of $1.88, $3.09, and even $5.85.

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This is a sponsored article. The opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on the information presented in this article.