XRP is trading at $3.06, holding strong with a 35% gain over the past month despite recent market swings. Technical signals and on-chain metrics are pointing to an imminent breakout.
Why the Momentum Looks Promising:
🔹 Falling Broadening Wedge: XRP’s price is shaping a falling broadening wedge — a bullish reversal formation known to precede sharp upward moves. A break above the upper trendline could kick off a powerful rally.
🔹 Short Squeeze Setup: Around $1.6 billion in short positions are stacked against XRP. Even a slight price jump could trigger a short squeeze, forcing sellers to buy back in — driving the price further up.
🔹 Whale Activity: Major players are loading up. Significant transactions from large holders reflect growing confidence in XRP’s trajectory.
Levels to Watch:
📈 Resistance at $3.19: Breaking above this point could open the path to $3.30 and higher.
📉 Support at $3.00: Holding above this level is key to keeping bullish momentum alive. If it slips below $2.72, the current bullish pattern could be at risk.
Bottom Line:
XRP is approaching a crucial zone. With bullish technicals, heavy short interest, and big wallets moving in, all eyes are on the next move. Still, market conditions can flip fast — stay sharp and informed.
Disclaimer: Crypto markets are highly volatile. Always do your own research and consider professional advice before investing.
