Renowned cryptocurrency chart analyst XRP CAPTAIN has identified a classic bearish wedge pattern on XRP's 4-hour chart, signaling a potential upcoming bullish breakout. According to his recent analysis, XRP is approaching a critical moment, with the expected breakout target ranging from $3.00 to $3.10, and the momentum could push the price above $3.60.
This technical pattern, marked by converging downward trend lines, typically signals a reversal of the downward momentum. In the case of XRP, the wedge pattern reflects a narrow trading range and declining volatility, often signaling a strong bullish move.
Bullish Technical Structure Reinforces Recovery Potential
The bearish wedge pattern identified by XRP CAPTAIN is considered one of the most reliable bullish reversal patterns in technical analysis. It shows that sellers are losing momentum and buyers are gradually regaining control. On-chain indicators further reinforce this view, with recent data showing strong accumulation during price corrections and decreasing selling pressure.
Other technical analysts, including EGRAG Crypto and XRPunkie, have also noticed a similar pattern, with consensus forming around an imminent breakout. The price action has repeatedly tested the upper boundary of the wedge pattern, indicating that bullish momentum is increasing. A confirmed breakout at this resistance level could trigger a strong upward move, with the next reasonable target being $3.60.
XRP Price Update
As of the time of reporting, XRP is trading at $3.04, after a daily high of $3.13 and a low of $2.91. Despite recent volatility, the coin remains above the important psychological support level of $3.00, maintaining the bullish thesis. The current price reflects a slight decrease of about 1.9% for the day, which analysts attribute to normal market fluctuations within an accumulating wedge pattern.
It is important to note that XRP is still up over 60% from its mid-July lows, demonstrating sustained confidence from investors amidst the broader cryptocurrency market's ongoing uncertainties.
Next Steps: Important Levels to Watch
If XRP surpasses the wedge resistance around $3.10 with significant trading volume, technical forecasts suggest a rapid price increase to $3.50. From there, extension targets of $4.00 to $5.00 are possible, especially if market sentiment improves and institutional demand increases, driven by ongoing discussions about the XRP ETF and Ripple's expanding global presence.
On the downside, a break below $2.30–$2.25 could invalidate the pattern, placing the support level near $2.10 as a crucial defensive zone. However, most indicators currently support a bullish resolution.
With XRP hovering around the breakout zone and momentum quietly building, the next few trading sessions could be critical. If the price breaks out with trading volume, this could confirm what traders have anticipated: the next strong bullish leg of XRP has begun.
Currently, all attention is focused on the $3.10 level. A decisive move above this level could mark the beginning of a significant bullish phase, confirming the bullish wedge pattern and pushing XRP to new highs in 2025.