XRP Forms Long-Term Pattern With $27 Price Target: Analyst

Chart analyst ChartNerd flagged an 8.5-year cup-and-handle pattern on XRP this week, arguing that the token is nearing the 0.618 Fibonacci retracement level that could set up a long-term move toward $8, $13, and $27.

The outlook arrives while XRP itself sits near $1.06, deep in a correction that has wiped out most of its gains from the past year.

Cup and Handle Points to $8, $13, and $27 In an August 4 post on X, ChartNerd said XRP’s cup-and-handle formation is “one of the largest macro setups” on the market and that the token is approaching the 0.618 Fibonacci retracement level, which the analyst believes could support a move toward the Fibonacci extension targets of $8, $13, and $27.

According to him, the targets are “not an if, but a when,” and he has also warned that short-term price action remains uncertain.