Veteran trader Peter Brandt has drawn attention to $XRP with a somewhat a cryptic chart, showing the cryptocurrency's recent price structure alongside an image of a coffee cup. The implication appears straightforward: $XRP may be developing a cup-and-handle-style continuation pattern, with $1.6572 marked as the level to watch.
Exiting correction period
$XRP currently trades around $1.52 after a substantial recovery from its August lows near $1.00. The first leg of the structure came from the explosive August breakout, which pushed $XRP toward $1.70 before a broad correction sent it back toward $1.27 in mid-September.
