XRP Cup-and-Handle Breakout: Can It Reach $13.5687?

XRP has entered a crucial phase after its August rally, which saw the token gain more than 60% within a few days and reach an interim high near $1.70.

The rebound followed several positive developments, such as expected higher liquidity injection, renewed optimism surrounding the CLARITY Act, whale accumulation, and continued spot XRP ETF inflows.

However, the rally could not hold its gains for long, and on August 22, XRP experienced a flash crash that pushed the token down more than 37% intraday, triggering roughly $500 million in leveraged long liquidations before XRP found some stability.

The current range gives the chart a structure that could develop into the handle portion of a larger cup-and-handle formation, with resistance around $1.45-$1.50 and support near $1.35, followed by the $1.30-$1.31 area.