Analyst Predicts XRP Breakout Within 48 Hours as Falling Wedge Nears Resolution
Crypto analyst Bird (@Bird_XRPL) says XRP may make a major move within 48 hours as price action forms a falling wedge approaching its apex. At the time of the call, XRP traded near $1.56, showing lower highs and stable lows around $1.35—signs that selling pressure has eased. The chart highlights two converging trendlines; a breakout above the upper trendline and the key $1.60 area would be a bullish trigger. Immediate support is at $1.35; a sustained break below could delay upside momentum. The article frames the pattern as a short-term bullish setup and flags the next 48 hours as critical for traders monitoring a potential breakout. Disclaimer: not financial advice.
Bullish
The article highlights a falling wedge pattern, a technical formation typically viewed as bullish when price approaches the apex and then breaks upward. Key supportive details: XRP trading near $1.56, stable lows around $1.35, and a defined breakout level slightly above $1.60. These indicators point to reduced volatility and a possible accumulation phase that often precedes upward breakouts. For traders, the immediate implications are short-term: watch for a confirmed break above the wedge and $1.60 on increased volume for a bullish trade setup with defined support at $1.35 for risk management. Historically, falling wedges that resolve upward often lead to sharp short-to-medium-term rallies, though false breakouts occur—so use stop-losses and confirm with volume. Long-term impact is limited from this single technical signal; broader fundamentals and market conditions should guide position sizing and horizon.