XRP Consolidates Near $2.70 in Falling Wedge, Poised for Breakout
XRP extended a 61% rally from $2.27 to $3.65 between December 2024 and July 2025 after breaking out of a symmetrical triangle. Since peaking at $3.65, the token has formed a falling wedge pattern, trading around $2.82 as support near $2.70–$2.69 holds on multiple tests. Resistance lies at $3.00–$3.10 and at $3.25. A breakout above these levels could reopen the path to $3.65 and beyond.
Technical indicators remain neutral-to-bullish. The 14-day Money Flow Index sits at 56.85, showing steady buying pressure without overbought conditions. Analysts comparing the current structure to the 2017 cycle predict a surge toward $5–$7 if $3.25 resistance is overcome.
However, exchange data shows over 3.55 billion XRP on Binance, signaling potential selling pressure. At press time, XRP trades at $2.82, down 2% on the day and 5% for the week. Traders should watch the $2.70 support zone and the $3.00–$3.25 resistance range closely for signs of a bullish breakout or a deeper correction.
Bullish
The outlook is bullish because XRP has formed a classic falling wedge following a strong breakout from a symmetrical triangle and 61% rally, indicating consolidation before a potential surge. The 14-day MFI around 56.85 points to steady buying pressure without overbought conditions. Historical parallels, notably 2017, show extended consolidations in similar structures often precede significant gains. A successful break above $3.25 could trigger a sharp advance toward $5–$7. While rising XRP balances on Binance may apply short-term selling pressure, the key support zone at $2.70 underpins risk-reward. In the short term, traders should watch for a breakout above $3.00–$3.25 to confirm bullish momentum. Over the long term, sustaining above these levels could set the stage for multi-dollar targets.