The post XRP Falling Wedge Breakout Hints Bullish Rally, Price Surge appeared on BitcoinEthereumNews.com.

XRP has broken out of a descending triangle on the 3-day chart, suggesting a bullish reversal. MACD shows a bullish crossover while RSI nears overbought, supporting short-term momentum. Price targets range from $3.50 to $5, with a bearish invalidation zone below $2. XRP is showing strong bullish signals as it decisively breaks out of a falling wedge pattern on the 3-day chart against USDT. This bullish pattern is characterized by converging trendlines where the XRP price was making lower highs and lower lows. Such a breakout typically indicates a potential reversal of the prior downtrend and has captured significant market attention. According to CoinMarketCap data, the trading volume of the XRP token soared 135% to $10.72 billion as prices shot up 5.63% in the past 24 hours with the altcoin hitting a daily high of $2.64. At the time of writing, XRP trades at $2.55.  The recent surge in buying pressure, marked by a significant green candlestick on the charts, confirms the breakout from the falling wedge.  XRP Forms Bullish Falling Wedge; Analyst Captain Faibik Spots Upside The falling wedge was first identified and reported by Captain Faibik, a prominent crypto analyst, via social media platform X.  A common method to estimate the upside potential after a falling wedge breakout is to measure the height of the wedge’s base and project it upwards from the breakout point. Applying this technical approach to the XRP chart suggests a price target in the $3.5 – $5 range. Related: What Will Drive XRP Price to $3.29? Accumulation Strong, Say Analysts The 3-day timeframe for this pattern adds weight to this development. It suggests that the falling wedge formed over a considerable period. This implies that if the breakout sustains, the resulting upward movement for XRP price could be substantial. XRP Technicals Also Remain…

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Filed under: News - @ May 13, 2025 9:26 pm