🚀 XRP/USDT Technical Analysis - Anticipating the Next Big Move?

Examining the current XRP/USDT chart, we see a classic falling wedge pattern unfolding—a potential precursor to a bullish breakout. The price has been consolidating within the descending trendlines, exhibiting a tight range, while volume appears to be tapering. Could this indicate the calm before the storm?

The highlighted support zones between $3.08 - $3.10 suggest strong demand, holding the price from further downside. Meanwhile, the resistance line of the wedge, currently around $3.14, may act as the ceiling for a breakout attempt. A decisive close above this level could spark upward momentum, targeting $3.18 and potentially higher to the $3.22 - $3.25 range.

However, traders should note the possibility of a fake-out—where a breakout above resistance may quickly reverse to trap buyers. Conversely, if the price breaches the lower support zone, bears could seize control, pulling XRP toward $3.06 or even $3.04.The critical question remains: will the wedge resolve upward, or will bears continue to suppress the price? The answer might lie in how the market reacts to the next volume spike.

Disclaimer: This post is for informational purposes only and does not constitute financial advice. Always conduct your own research before making investment decisions.

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$XRP