XRP/BTC’s falling wedge pattern and inverted hammer candlestick point to a likely breakout after prolonged consolidation within a narrowing range.
RSI for XRP/BTC holds near historical support, showing reduced bearish pressure and a potential shift in momentum toward bullish territory.
Fibonacci resistance levels coincide with price objectives, and 0.00009200 BTC as a primary breakout price rises in the face of long-term chart formation validation.
XRP’s trading pair with Bitcoin has developed a falling wedge formation, signaling a potential upside reversal after an extended downtrend. The pattern began forming after the XRP/BTC ratio peaked, with the chart showing lower highs and lower lows inside a tightening wedge. Current resistance stands at 0.00002700 BTC, while the lower wedge boundary holds support around 0.00001930 BTC.
An inverted hammer candlestick recently formed near the upper wedge line. This type of candle often emerges after prolonged selling and signals exhaustion of bearish momentum. Its appearance within the wedge adds further strength to the reversal possibility.
Fibonacci levels add confluence to the reakout target
A Fibonacci retracement overlay on the XRP/BTC chart reveals price interaction with key levels, including the 0.5 and 0.618 retracement zones. The resistance line near 0.00002700 BTC aligns with the 0.786 level. Analysts are watching the 1.618 Fibonacci extension at 0.00009200 BTC as a potential breakout target.
The Relative Strength Index of XRP/BTC has declined progressively since breaching the 90-mark at the end of 2024. It currently trades at 44.75, above a crucial long-term support within the value of 40. This zone has historically triggered momentum rebounds. The RSI’s 14-week average remains above at 49.58, but the gap has narrowed significantly, suggesting possible stabilization.
Analyst projects upside path if resistance breaks
Technical analyst EGRAG CRYPTO shared projections suggesting a parabolic rise from the wedge base. The chart includes a curved trajectory indicating a bullish move pending breakout confirmation with increased volume. A sharp arrow on the chart highlights this potential direction toward the 0.00009200 BTC mark.
Although the XRP/BTC is still trading inside the wedge, there is a good argument in favor of a bullish continuation, as seen by the chart pattern, candlestick formations, and the RSI values. A break above the resistance will be confirmed by the market monitors as a confirmation of the expected up move.
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