XRP Poised to Break 6‑Month Descending Wedge; $2.38 Breakout Could Trigger Rally
XRP has compressed inside a six‑month descending wedge and is trading around $2.07, roughly 15% below the wedge’s upper resistance near $2.38. Crypto analyst Bird (@Bird_XRPL) highlighted the pattern and said a single strong green candle above the wedge could flip structure to bullish and accelerate a move toward the 2018 all‑time high of $3.84. The wedge shows classic signs of weakening selling pressure: lower highs/lows, contracting ranges and reduced volatility. Confirmation requires a decisive breakout above $2.38 accompanied by rising volume. Since late 2025 XRP has consolidated near $2.00, with January 2026 rallies to $2.34 reinforcing the breakout thesis. On‑chain activity and accumulation indicators are cited as supportive. If resistance holds, price may remain rangebound inside the wedge; a confirmed breakout could attract retail and institutional buyers, amplifying upside momentum. This article is informational and not financial advice.
Bullish
The article describes a classic bullish reversal pattern (six‑month descending wedge) with XRP ~15% below the upper resistance at $2.38. Technical confirmation requires a decisive breakout above $2.38 with rising volume. Historical context (consolidation near $2.00 and a recent rally to $2.34) plus reported on‑chain accumulation increase the probability of an upside move. If breakout occurs, it would remove the multi‑month downtrend and likely trigger short‑covering, momentum buying, and renewed retail/institutional interest — typical drivers of rapid price appreciation. Conversely, failure to break would keep price rangebound, which is less market‑moving. Similar pattern breakouts in crypto (e.g., prior wedge breakouts on BTC, ETH) have produced sharp short‑term rallies, so traders should view this as a potentially bullish trade setup but require volume confirmation and risk management due to false breakouts and macro volatility.