XRP News Today: XRP’s Wedge Narrows: Can $5 Be Next?

XRP, the third-largest cryptocurrency by market value, is drawing renewed attention from analysts and traders, with technical indicators and market sentiment suggesting potential for a significant price breakout. A major alert from market strategist STEPH IS CRYPTO highlights the formation of a falling wedge pattern in XRP’s price action, a structure historically associated with upward momentum. As of September 8, XRP was consolidating between $2.60 and $3.00, with the pattern narrowing into an apex and signaling a possible resolution soon.

According to STEPH IS CRYPTO, the falling wedge pattern has been in place since July 21 and is part of a broader uptrend characterized by higher highs and higher lows. A critical confirmation level for the breakout is a daily candle close above $2.91, which would validate the bullish case and potentially push the price toward $4.00. Further projections suggest levels as high as $4.64 and even $5.00 based on Fibonacci extension models. The strategist emphasized that the risk-to-reward ratio is favorable, with limited downside should the pattern fail compared to the potential upside.

Complementing the price structure, technical indicators such as the Daily Relative Strength Index (RSI) also point to bullish momentum. A downtrend line in the RSI has already been broken, which STEPH describes as a precursor to a price breakout. This shift in momentum suggests that buyers may soon take control, especially if the price confirms the signal with a sustained move above key resistance levels.

Market fundamentals also provide a supportive backdrop for XRP. The cryptocurrency has seen increased speculative demand, particularly around pending exchange-traded fund (ETF) approvals. Data from Coinglass shows that XRP futures trading volume rose by 17% in the 24 hours leading up to key market movements, with open interest increasing by 3%. These metrics indicate that traders are positioning for volatility as the U.S. Securities and Exchange Commission (SEC) approaches its October 18 decision window for ETF filings.

Options data from Deribit further reflects bullish sentiment, with XRP call options trading at a premium over puts across all tenors. This suggests a strong market expectation of a price rally, especially if the anticipated ETF approvals materialize. At least six to seven major asset managers, including Bitwise and 21Shares, have active XRP ETF applications pending with the SEC, adding to the speculative momentum. Polymarket data indicates an 88% probability of XRP ETF approval by late October, according to market odds.

While the technical and market signals are largely bullish, risks remain. A failure to hold above $2.91 on a daily basis would invalidate the current optimistic scenario, potentially leading to more sideways trading or even a breakdown below $2.60 support. Furthermore, macroeconomic factors and any negative developments from the SEC could trigger a sharp sell-off, particularly if leveraged positions face liquidation pressures.

Despite the current focus on ETF-related speculation, XRP’s long-term value proposition is also evolving. The cryptocurrency is finding adoption in retail remittances, corporate payments, and internet-based micropayments. Fintech companies like goLance and SBI Japan have already leveraged XRP for fast, low-cost cross-border transactions. These use cases, along with the growing ecosystem on the XRP Ledger (XRPL), highlight a diversified path to adoption, independent of traditional banking adoption.

As the market awaits key catalysts, XRP remains a focal point of speculation and technical analysis. With the convergence of favorable patterns, growing speculative demand, and the potential for regulatory approval, the coming weeks could determine the next chapter in XRP’s price trajectory.

Source:

[1] XRP Latest News: Price Breakout Incoming: Falling Wedge ... (https://thetradable.com/crypto/xrp-latest-news-price-breakout-incoming-falling-wedge-signals-bullish-momentum-ig--m)

[2] XRP price Murrey Math Lines indicate surge ahead of ETF ... (https://crypto.news/xrp-price-murrey-math-lines-surge-ahead-etf-approvals/)

[3] What If Banks Say No to XRP, Here's Why XRP Still Wins ... (https://thecryptobasic.com/2025/09/08/what-if-banks-say-no-to-xrp-heres-why-xrp-still-wins-without-wall-street/)

[4] Market Strategist Sends Major XRP Alert to Holders (https://timestabloid.com/market-strategist-sends-major-xrp-alert-to-holders/)

[5] Ripple (XRP) Price Moves Toward $3 as Community ... (https://finance.yahoo.com/news/ripple-xrp-price-moves-toward-215804400.html)

[6] XRP and SOL Signal Bull Run While Traders Hedge for ... (https://finance.yahoo.com/news/xrp-sol-signal-bullish-strength-062449930.html)