Date: Sun, June 08, 2025 | 06:26 AM GMT
The cryptocurrency market is bouncing back strongly after Thursday’s sharp sell-off, which briefly dragged Bitcoin (BTC) to a low of $100,430 and Ethereum (ETH) to $2,387. However, the tide has turned—BTC has reclaimed levels above $105,600, while ETH has recovered to around $2,515. This broader rebound is now lifting sentiment across altcoins, including XRP.
XRP is back on the green track today with mild but meaningful gains, and a closer analysis of the charts reveals that the asset may be preparing for a continuation of its upward movement.
Bearish Cypher Harmonic Pattern in Play
A look at the 4-hour chart shows that XRP is forming a Bearish Cypher harmonic pattern—a structure often associated with bullish price continuation before a potential reversal at higher levels.
The pattern began with a local high at $2.47, marking point X. XRP then dropped to $2.07, forming point A, before rebounding to $2.28, which became point B. This was followed by another pullback to $2.05, completing point C. From this level, XRP has started to climb again, forming what appears to be the final leg toward point D.
The projected D leg lies between $2.29 and $2.48, which is supported by key Fibonacci ratios such as the 78.6 percent retracement of the XC leg and the 100 percent Fibonacci extension. These levels are seen by many traders as potential reversal zones, and completing this structure could result in a further 8 to 12 percent rally from current levels.
What’s Next for XRP?
The upcoming trading sessions will be important in confirming the bullish setup. A continued push toward the $2.29 to $2.48 resistance area could validate the harmonic pattern and encourage further interest from technical traders. However, traders should remain cautious, as this zone may also invite profit-taking and temporary selling pressure, which is common when a harmonic pattern nears completion.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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