$XRP XRP Price Enters Perfect Setup After Buy Retest – Next Stop $3.7

The XRP price is reportedly positioning for a potential breakout as it forms a textbook Falling Wedge pattern, which a crypto analyst calls a perfect bullish setup. After a successful retest of a keg buy zone, technical indicators suggest that XRP is preparing for a powerful move toward the $3.7 level soon.

Falling Wedge Setup Signal XRP Price Breakout

XRP is currently entering what Robert Mercer, a TradingView crypto analyst, describes as the perfect breakout setup following a prolonged period of consolidation. This technical structure suggests that XRP could potentially experience a sharp rally from its current price of $2.25 to the $3.70 level.

Notably, on the 2-day XRP price chart, Mercer noted that the cryptocurrency has been consolidating within a Falling Wedge pattern since late December 2024. Since establishing a local bottom at $2.11 in the same timeframe, the altcoin has repeatedly tested this bottom level without breaking below it in a sustained manner.

The $2.11 price zone has also acted as a reliable horizontal support level throughout the six-month Falling Wedge formation. Meanwhile, XRP’s price action has been gradually compressing within the wedge pattern, indicating reduced volatility and increasing pressure near the wedge apex.

Looking at the TradingView analyst’s chart, it appears that XRP is now approaching the Falling Wedge resistance at the upper boundary, which coincides with the $2.45 level, where a buy retest has occurred. This convergence is viewed as a potential confirmation zone. If buying momentum continues and XRP closes decisively above $2.45, the breakout would confirm the end of the Falling Wedge and potentially initiate the cryptocurrency’s next upward #Write2Earn #learn2earn