Ripple’s XRP has recently experienced an influx of buyers, driving the price above the crucial wedge’s upper boundary. This move marks a significant bullish signal, though a temporary pullback to the broken level remains a likely scenario.
By Shayan
On the daily timeframe, XRP benefited from intense buying pressure, with support provided by the 100-day moving average and the wedge’s lower boundary near $2.7. This confluence fueled a fresh spike, culminating in a breakout above the falling wedge’s upper boundary, a clear sign of a bullish market structure shift.
Despite this breakout, the asset is likely to undergo a short period of consolidation or corrective pullback, with the broken level at $2.9 serving as a probable retest zone. If this level holds, Ripple’s next upside targets remain the critical $3.4 and $3.6 resistance thresholds.
The 4-hour chart further emphasizes the impulsive breakout from the multi-month wedge pattern, reflecting strong buyer dominance. The rally has already pushed the price into the $3 supply zone, where initial rejection suggests active sell-side liquidity.
If buyers manage to reclaim and hold above $3, momentum could carry Ripple toward the $3.4 resistance. Conversely, a rejection here would likely trigger a correctional pullback toward the broken wedge trendline, where demand is expected to be tested.
The post XRP Breakout Signals a Clear Bullish Market Shift: Ripple Price Analysis appeared first on CryptoPotato.
Also read: Corporate Bitcoin Stocks Lag Behind Bitcoin Performance
