XRP News Today: XRP's Falling Wedge Pattern Hints at Imminent Breakout

Coin WorldThursday, Jun 5, 2025 4:14 am ET
1min read

Francis Hunt, a well-known crypto market analyst, recently shared his insights on the price movements of XRP, the native token of the Ripple network. Despite the token's recent stagnation, Hunt believes that a significant breakout is still possible.

Hunt's team accurately predicted XRP's previous high at $3.36, which they identified as a temporary peak. Since reaching this level, XRP has entered a falling wedge pattern, where the price gradually decreases within a narrowing range. Falling wedges typically resolve upwards, and Hunt anticipates that XRP will follow this pattern.

Hunt emphasizes the importance of the $2 support level for XRP. Although the token has briefly dipped below this mark, it has been quickly bought up, indicating strong buying interest in this area. This suggests that long-term bulls are defending the price around $2, which is a positive sign for the token's future performance.

Ask Aime: Could XRP's recent price dips signal a potential breakout?

Despite the current market's lack of strength, particularly with Bitcoin's recent decline, XRP has not experienced a decisive breakdown. Hunt, who exited some of his positions at the $3.36 high, is now watching for opportunities to re-enter if XRP briefly drops below $2, as this could present attractive buying opportunities.

The falling wedge pattern that XRP is currently in has persisted longer than expected. However, Hunt notes that the longer this pattern holds, the stronger the eventual breakout tends to be. Most of XRP's recent trading activity has occurred in the lower half of the wedge, suggesting that upward pressure is building.

Hunt cautions that external market shocks, such as geopolitical conflicts or economic crises, could temporarily disrupt this pattern. Nevertheless, he remains optimistic about XRP's potential for a significant breakout in the near future.