XRP Price Flashes Falling Wedge Pattern, Why $2.8 Is A Possible Target From Here

Name	Symbol	Market	Market Cap ($)	Algorithm
Solana	SOLUSD	Crypto	105,847,582,212	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Solana

SOLUSD

Crypto

105,847,582,212

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-1.03	-0.45%	226.01	225.97	225.99

Price Change

Price Change %

Current Price

Bid Price

Offer

-1.03

-0.45%

226.01

225.97

225.99

High Price	Low Price	Open Price	Prev. Close	52 Week Range
228.47	223.21	227.07	227.04	63.75 - 264.63

High Price

Low Price

Open Price

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52 Week Range

228.47

223.21

227.07

227.04

63.75 - 264.63

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	11:50:52	0.014950	226.01	USD

Exchange

Last Trade

Size

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GDAX

11:50:52

0.014950

226.01

USD

Price x Volume	Volume	Base Symbol	Related Pairs
57,931,186.05	256,101.67	SOL	SOLEUR	SOLGBP	SOLBTC

Price x Volume

Volume

Base Symbol

Related Pairs

57,931,186.05

256,101.67

XRP Price Flashes Falling Wedge Pattern, Why $2.8 Is A Possible Target From Here

12/12/2024 2:30pm

NEWSBTC

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. 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 ‘MBM_Crypto,’ has revealed that the XRP price has undergone a pullback and is currently “cooling off” in a Falling Wedge pattern after experiencing its massive upside move. Related Reading: Bitcoin CME Chart Shows Striking Similarities To 2023, Here’s 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. 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. 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. 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. Analyst Says XRP Is ”Super Bullish” Despite trading at $2.4 after experiencing a slight decline in the past weeks, analysts remain highly optimistic about XRP’s future price prospects. Dark Defender, a prominent crypto analyst on X (formerly Twitter), has declared that the XRP price is “super bullish” 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. Featured image created with Dall.E, chart from Tradingview.com

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