$XRP - Falling Wedge Breakout is Cooking

10 giu

Ripple is forming a simple yet perfect setup

There is a strong horizontal support level of $2.11 that was established back in December of 2024 and has held the price perfectly (with only one breakdown) since then. Moreover, at that time a massive Falling Wedge started forming and is still doing it up to this day.

Talking about resistances, there is a $2.45 one. Not very strong, but solid enough to form a decent horizontal channel within which the price moves.

So, as the result we have the following structure: XRP has been consolidating above strong support for 6 months already and formed a pattern that suggest upcoming upward movement. The perfect entry spot in LONG will be at the breakout&retest of the both $2.45 resistance and Falling Wedge resistance (they perfectly correlate).

Target zone of $3.5 - $4 can be reached within the next 3 - 5 months.

3 giorni fa

Trade attivo

Almost a month passed since the first update, but finally the price managed to break through the Falling Wedge on a STRONG impulse!

Buying here (spot mainly) makes a lot of sense since Ripple is finally ready to make its way towards $3.5 zone.