#TradingTypes101 Key points:

The descending wedge pattern of XRP signals a bullish reversal; potential price increase of 48%.

The SEC's review of WisdomTree's XRP ETF could spark investor interest, as the odds of approval rise to 84% on Polymarket.

The price of XRP is forming a descending wedge pattern on the daily chart, a technical formation associated with strong bullish momentum following an upward breakout. Could this technical setup, along with the SEC's review of WisdomTree's spot XRP ETF application, signal the start of a rally towards USD 3.40 and beyond?

The descending wedge pattern of XRP points to USD 3.40

From a technical perspective, the price of XRP

XRP

€2.04

could gain significant momentum if it manages to break this descending wedge pattern.

In technical analysis, a descending wedge is a bullish reversal pattern consisting of two converging trendlines connecting lower highs and lower lows. This convergence indicates a weakening of the downward momentum.