{"id":661251,"date":"2024-12-12T14:30:41","date_gmt":"2024-12-12T14:30:41","guid":{"rendered":"https:\/\/ktsl888.com\/?p=661251"},"modified":"2024-12-12T08:00:47","modified_gmt":"2024-12-12T08:00:47","slug":"xrp-price-falling-wedge-pattern","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/analysis\/xrp\/xrp-price-falling-wedge-pattern\/","title":{"rendered":"XRP Price Flashes Falling Wedge Pattern, Why $2.8 Is A Possible Target From Here"},"content":{"rendered":"

A Falling Wedge pattern has emerged on the <\/span>XRP price chart<\/span><\/a>, fueling speculation of a bullish reversal to new highs. According to a crypto analyst, XRP could reach three potential new price targets if it can break out of the Falling Wedge, with $2.8 being the highest target.\u00a0\u00a0\u00a0<\/span><\/p>\n

Falling Wedge To Trigger XRP Price Surge To $2.8<\/h2>\n

The XRP price has been on a <\/span>powerful uptrend<\/span><\/a> in the past month, jumping from $0.5 to over $2 in just one month. Acknowledging this impressive performance, a crypto analyst on TradingView, known as \u2018MBM_Crypto,\u2019 has<\/span> revealed<\/span><\/a> that the XRP price has <\/span>undergone a pullback<\/span><\/a> and is currently \u201ccooling off\u201d in a Falling Wedge pattern after experiencing its massive upside move.<\/span><\/p>\n

Related Reading: Bitcoin CME Chart Shows Striking Similarities To 2023, Here\u2019s What Happened Last Time<\/a><\/div>\n

A <\/span>Falling Wedge<\/span><\/a> is a technical chart pattern that indicates a potential price reversal to the upside. Typically seen as a bullish signal, this pattern often appears during a downtrend, featuring two converging trend lines sloping downwards.\u00a0\u00a0\u00a0<\/span><\/p>\n

\"XRP
Source: X<\/figcaption><\/figure>\n

The TradingView analyst shared a chart detailing the <\/span>XRP price action<\/span><\/a> in a 2-hour time frame, highlighting the presence of a Falling Wedge pattern. The chart pointed out key areas where XRP is likely to encounter selling pressure, resistance, and indicate <\/span>optimal buying levels<\/span><\/a> for investors.\u00a0\u00a0<\/span><\/p>\n

The analyst suggests that purchasing XRP when its price breaks above $2.51 could be a strategic move, indicating a <\/span>potential for a bullish breakout <\/span><\/a>following the conclusion of its current consolidation phase. Additionally, he shared key take-profit targets for investors, suggesting that XRP was on track to potentially hit three bullish price milestones if it successfully <\/span>breaks out of its Falling Wedge pattern<\/span><\/a>.\u00a0<\/span><\/p>\n

The first target for XRP is $2.6, followed by the second projected leap to $2.7, while the third and highest target is positioned at $2.8. For the XRP price to achieve these key price levels, the TradingView analyst has suggested that it will have to break above the blue resistance zone at $2.42, thus confirming a potential bullish continuation for the cryptocurrency.<\/span><\/p>\n

While the analyst is confident about his optimistic price projection, he has also acknowledged the possibility of a temporary pullback to $2.15 or even $1.96. Following this <\/span>price correction<\/span><\/a>, the crypto expert believes that XRP could eventually break out of the Falling Wedge and take off.\u00a0\u00a0<\/span><\/p>\n

Analyst Says XRP Is \u201dSuper Bullish\u201d<\/h2>\n

Despite trading at $2.4 after experiencing a slight decline in the past weeks, analysts remain highly optimistic about <\/span>XRP\u2019s future price prospects<\/span><\/a>. Dark Defender, a prominent crypto analyst on X (formerly Twitter), has<\/span> declared<\/span><\/a> that the XRP price is \u201csuper bullish\u201d during this cycle.<\/span><\/p>\n

Related Reading: Solana Price At $4,000? Cup And Handle Pattern Shows Why This Is Possible<\/a><\/div>\n

The analyst<\/span> observed<\/span><\/a> that XRP is on the verge of finalizing the <\/span>ABC Corrective Wave pattern<\/span><\/a> in the daily time frame, signaling a potential reversal and the beginning of an uptrend. This pattern will be confirmed once XRP breaks the $2.52 level.<\/span><\/p>\n

\"XRP
Source: X<\/figcaption><\/figure>\n

Dark Defender has forecasted that the XRP price could exceed this level within 24 hours, triggering a path to the $5.85 target before potentially skyrocketing to $18.22.\u00a0<\/span><\/p>\n

\"XRP
Price struggles to maintain bullish momentum | Source: XRPUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

A Falling Wedge pattern has emerged on the XRP price chart, fueling speculation of a bullish reversal to new highs. According to a crypto analyst, XRP could reach three potential new price targets if it can break out of the Falling Wedge, with $2.8 being the highest target.\u00a0\u00a0\u00a0 Falling Wedge To Trigger XRP Price Surge To $2.8 The XRP price has been on a powerful uptrend in the past month, jumping from $0.5 to over $2 in just one month. Acknowledging this impressive performance, a crypto analyst on TradingView, known as \u2018MBM_Crypto,\u2019 has revealed that the XRP price has undergone a pullback and is currently \u201ccooling off\u201d in a Falling Wedge pattern after experiencing its massive upside move. Related Reading: Bitcoin CME Chart Shows Striking Similarities To 2023, Here\u2019s What Happened Last Time A Falling Wedge is a technical chart pattern that indicates a potential price reversal to the upside. Typically seen as a bullish signal, this pattern often appears during a downtrend, featuring two converging trend lines sloping downwards.\u00a0\u00a0\u00a0 The TradingView analyst shared a chart detailing the XRP price action in a 2-hour time frame, highlighting the presence of a Falling Wedge pattern. The chart pointed out key areas where XRP is likely to encounter selling pressure, resistance, and indicate optimal buying levels for investors.\u00a0\u00a0 The analyst suggests that purchasing XRP when its price breaks above $2.51 could be a strategic move, indicating a potential for a bullish breakout following the conclusion of its current consolidation phase. Additionally, he shared key take-profit targets for investors, suggesting that XRP was on track to potentially hit three bullish price milestones if it successfully breaks out of its Falling Wedge pattern.\u00a0 The first target for XRP is $2.6, followed by the second projected leap to $2.7, while the third and highest target is positioned at $2.8. For the XRP price to achieve these key price levels, the TradingView analyst has suggested that it will have to break above the blue resistance zone at $2.42, thus confirming a potential bullish continuation for the cryptocurrency. While the analyst is confident about his optimistic price projection, he has also acknowledged the possibility of a temporary pullback to $2.15 or even $1.96. Following this price correction, the crypto expert believes that XRP could eventually break out of the Falling Wedge and take off.\u00a0\u00a0 Analyst Says XRP Is \u201dSuper Bullish\u201d Despite trading at $2.4 after experiencing a slight decline in the past weeks, analysts remain highly optimistic about XRP\u2019s future price prospects. Dark Defender, a prominent crypto analyst on X (formerly Twitter), has declared that the XRP price is \u201csuper bullish\u201d during this cycle. Related Reading: Solana Price At $4,000? Cup And Handle Pattern Shows Why This Is Possible The analyst observed that XRP is on the verge of finalizing the ABC Corrective Wave pattern in the daily time frame, signaling a potential reversal and the beginning of an uptrend. This pattern will be confirmed once XRP breaks the $2.52 level. Dark Defender has forecasted that the XRP price could exceed this level within 24 hours, triggering a path to the $5.85 target before potentially skyrocketing to $18.22.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":637283,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83363],"tags":[167,6664,26263,14690,3680,17209,4531,83637,13172,10972,78763],"class_list":["post-661251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp","tag-analyst","tag-crypto","tag-crypto-analyst","tag-crypto-news","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-news","tag-xrp-price","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nXRP Price Flashes Falling Wedge Pattern, Why $2.8 Is A Possible Target From 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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