XRP has officially broken down from a rising wedge pattern on the daily chart, closing below its lower trendline support. This could signal the beginning of a short-term bearish phase unless key support levels hold up.
Chart Breakdown
On the daily timeframe, XRP was trading within a rising wedge—a pattern typically considered bearish when it breaks to the downside. The breakdown came after price failed to reclaim the $2.30–$2.35 resistance zone, followed by a sharp move lower toward the $2.00 level.
Key technicals:
Bearish Price Targets
With the wedge breakdown confirmed, here are potential downside levels to watch:
If XRP fails to hold above $2.00 and closes below it, momentum could shift strongly in favor of the bears.
Bullish Scenario?
While the pattern suggests bearish momentum, bulls could still regain control if XRP closes back above $2.20 and re-enters the wedge. That would invalidate the breakdown and potentially open the door back toward $2.35 and higher.
Final Thoughts
The wedge breakdown is a warning sign for short-term traders. Unless XRP reclaims key levels quickly, it could be headed toward the $1.89–$1.64 support range. Keep an eye on volume and EMA support—these will likely determine if this is just a dip or the start of a larger correction.
Chart Breakdown
On the daily timeframe, XRP was trading within a rising wedge—a pattern typically considered bearish when it breaks to the downside. The breakdown came after price failed to reclaim the $2.30–$2.35 resistance zone, followed by a sharp move lower toward the $2.00 level.
Key technicals:
- 200-day EMA (blue line) is now acting as the first major support near $2.00
- 50-day EMA (purple) has turned into resistance
- Price is hovering around $2.15, retesting the wedge from below
Bearish Price Targets
With the wedge breakdown confirmed, here are potential downside levels to watch:
- $2.00 – Psychological level and strong dynamic support from the 200 EMA
- $1.89 – Horizontal support from late March
- $1.64–$1.61 – A critical support zone that marked the low before the last rally
If XRP fails to hold above $2.00 and closes below it, momentum could shift strongly in favor of the bears.
Bullish Scenario?
While the pattern suggests bearish momentum, bulls could still regain control if XRP closes back above $2.20 and re-enters the wedge. That would invalidate the breakdown and potentially open the door back toward $2.35 and higher.
Final Thoughts
The wedge breakdown is a warning sign for short-term traders. Unless XRP reclaims key levels quickly, it could be headed toward the $1.89–$1.64 support range. Keep an eye on volume and EMA support—these will likely determine if this is just a dip or the start of a larger correction.
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