XRP News Today: XRP Breaks Falling Wedge Pattern, Analysts Predict 70% Gain

XRP has once again captured the attention of the crypto community following a bullish technical development identified by prominent analyst XRP2020. According to a recent post, XRP has broken out of a falling wedge pattern, a well-known signal that often precedes significant price movements. This pattern is characterized by the price making lower highs and lower lows within converging trendlines, indicating a period of consolidation and weakening selling pressure, which typically results in an upward breakout.

With XRP currently trading at $2.18, market observers are closely monitoring this technical breakout and its potential implications for the token’s near-term trajectory. The breakout from the falling wedge pattern suggests that the downtrend may be over, and a new bullish phase could be starting. This development is particularly notable given the prolonged correction XRP experienced after its previous highs. If sustained, the breakout positions XRP for a powerful rally, with analysts projecting strong upside potential.

XRP2020 is not the only analyst sounding the alarm on XRP’s bullish setup. Other well-followed analysts, including XRPunkie and EGRAG Crypto, have echoed similar sentiments. XRPunkie pointed to a hidden bullish divergence forming alongside the breakout, stating that XRP is “overall bullish soon.” EGRAG added that the wedge has reached its apex, warning that the window for a breakout is closing quickly, and XRP is now poised for a decisive move. Francis Hunt, popularly known as “The Market Sniper,” believes that the $2.00 level offers strong support and expects XRP to bounce higher. Meanwhile, analyst Quantum Ascent suggests a minor dip to $2.13 may occur to complete the corrective structure before XRP shoots upward.

Technical projections vary, but several analysts see XRP climbing significantly if momentum continues. A confirmed breakout could send XRP soaring by 70%, potentially reaching $3.50 to $4.00 in the coming weeks. The Currency Analytics places the next major resistance near $2.40. A breakout above that level could open the door to $3 by September, especially if Ripple’s regulatory clarity improves. Still, traders are urged to remain cautious. Failure to hold key support zones, particularly around $2.00 or the lower trendline near $1.47, could invalidate the bullish outlook and drag prices lower.

XRP’s technical setup is not the only driver behind the bullish sentiment. Ripple’s ongoing legal interactions with the U.S. SEC have shown signs of nearing resolution. Recent developments, including Ripple’s decision to drop its counter-appeal and the expected withdrawal of the SEC’s appeal, have added clarity and stability to XRP’s regulatory landscape. Such progress could pave the way for greater institutional adoption and upward price momentum.

XRP’s breakout from the falling wedge pattern, as spotted by analyst XRP2020, is being hailed as a powerful bullish signal. With several respected analysts aligning behind the same view and supportive regulatory tailwinds in play, XRP appears poised for a significant move. At $2.18, the token is trading just below the key breakout zone. If it clears resistance around $2.30–$2.40, a rally toward $3 and beyond may not just be possible, it may be imminent.