- XRP’s falling wedge pattern signals a potential bullish breakout, with key resistance at $2.40–$2.60 and support at $1.90–$2.00.
- RSI at 59.60 suggests growing momentum, while MACD’s bullish crossover indicates potential for further upside movement.
- A breakout above $2.40 could push XRP toward $3.00, but failure to hold $2.00 may trigger a retest of lower support levels.
XRP is showing signs of a potential breakout after forming a bullish pattern. On Friday 14th, at press time, XRP was trading at $2.31, a 2.36% gain in 24 hours. However, it remains down by 9.03% over the past week and 3.91% in the past month.
Market capitalization is at $231.73 billion, with a fully diluted valuation matching the same figure. Trading volume in the last 24 hours reached $5.6 billion, while the volume-to-market cap ratio was 4.18%.
Falling Wedge Formation Suggests Potential Upside
According to analyst Steph is Crypto, a breakout may be imminent. XRP’s price action is forming a falling wedge pattern, a formation often associated with bullish reversals.
The pattern is defined by two downward-sloping trendlines meeting, indicating a potential breakout point. The upper resistance trendline connects highs from approximately $2.60 in late December 2024 to around $2.20 in early March 2025.
Meanwhile, the lower support trendline aligns with lows forming a narrowing range. By March 2025, the price attempted to break out of this formation, as indicated by a small green candle in a key zone.
Support and Resistance Levels
Support is between $1.90 and $2.00. A drop below this range could invalidate the bullish breakout and lead to further declines. On the upside, the primary resistance zone extends between $2.20 and $2.60, with the price currently testing this level.
If XRP sustains momentum above $2.20, the next upside targets could range from $2.60 to $2.70. A further push above this region might push prices toward the $3.00, aligning with historical breakout patterns. Failure to hold above $2.00 could lead to a retest of lower support levels.
Technical Indicators Suggest Growing Momentum
The RSI is at 59.60, moving upwards and approaching the overbought zone. If RSI surpasses 70, XRP could see a short-term correction before continuing its upward movement. The MACD indicates bullish momentum.
The MACD line is at 0.0168, above the signal line at 0.0142, with a positive histogram value of 0.0027. This bullish crossover suggests the potential for further gains if resistance is broken. XRP has a crucial resistance zone between $2.32 and $2.40.
A breakout above this range could lead to the next major resistance at $2.60–$2.80. Strong volume could further validate the breakout and support sustained bullish momentum. However, if the asset fails to clear resistance, a pullback toward $2.10 may occur before another breakout attempt.
