On the weekly timeframe chart, XRP price shows the formation of the cup and handle pattern. In response to this bullish pattern, the altcoin bottomed out at $0.298 and spent more than a year in an accumulation phase before making a significant jump. The July 10 rally reached the neckline resistance of the formation and quickly bounced back to shape the stem structure. The altcoin price could bounce back at $0.685, which is trading in the 0.715 region based on the Fibonacci retracement level. If the momentum picks up again, buyers could challenge the $0.92 neckline again. Cup-handle patterns often appear at the bottom of the market and offer traders an early sign of a trend reversal. If there is a potential return from $0.715, if the $0.93 threshold is exceeded, the pattern's predetermined target of $1.5 can be tested. #ContentStar# #BountyCreator# #GateioBountyCreator# #NewsMessenger# #HotTopicDiscussion# #GateLive# #contentstar# #MyFancyCreator# #BTC # #ETH#

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