XRP Chart Forms Bullish ‘Monster’ Wedge as Analysts Eye a Major Breakout

XRP has formed a large, multi-month descending wedge, a classic bullish breakout pattern. Analysts note the price is nearing the pattern’s apex, suggesting a major rally is imminent. The technical structure suggests XRP is building momentum for a sustained upside move. After months of steady consolidation, XRP has reached a critical inflection point, according to multiple technical analysts. A massive descending wedge pattern on the daily chart has compressed the token’s price into an increasingly tight range, leading to a consensus view that a significant, high-volatility move is now imminent. While XRP has seen short-term declines, many market watchers agree that a breakout or breakdown is now imminent. The coin is currently trading at $2.16 , showing slight losses on the day and the week. However, the pattern’s structure and the timing of the current setup suggest a high-probability shift is near. Consequently, all eyes are on XRP’s next steps as it tests historical support and resistance levels. Related: XRP Price Prediction: Why XRP Price Going Down Today? A ‘Monster’ Wedge Nears Its Conclusion Analyst AltcoinGordon has highlighted a large… The post XRP Chart Forms Bullish ‘Monster’ Wedge as Analysts Eye a Major Breakout appeared first on Coin Edition .

Source: Coin Edition