XRP's 8-Year Cup-and-Handle Pattern Targets $27

XRP's recent price action has caught the attention of chart analyst ChartNerd, who has identified an 8.5-year cup-and-handle pattern on the token.

The pattern suggests that XRP is nearing the 0.618 Fibonacci retracement level and could set up a long-term move toward $8, $13, and $27.

XRP's price currently sits near $1.06, deep in a correction that has wiped out most of its gains from the past year.

The analyst notes that short-term price action remains uncertain, but warns that XRP's recent weakness does not necessarily point to problems with the asset itself.