Analyst: This Falling Wedge Could Send XRP Back to $1.90

Crypto analyst Austin (@Austin_XRPL) recently highlighted a technical setup on XRP that could signal a significant upward move. The chart shows XRP trading at $1.3822, positioned within a narrowing price pattern that has drawn attention from traders. According to Austin, this pattern could push XRP back toward $1.9 if the breakout confirms.

Falling Wedge Signals Potential Upside

The analyst depicts a falling wedge pattern on the chart, where price action has contracted between two downward-sloping trendlines. This formation shows that selling pressure has steadily decreased while support levels have held firm.

The narrowing of the wedge suggests that XRP is reaching a critical point where a strong move is likely. Austin’s analysis points to a potential breakout above the upper boundary of the wedge, expected to drive its price toward higher levels.

Current XRP Price Action

XRP began forming this wedge after the market-wide downturn that sent it to $1.13. The asset recently tested both support and resistance lines of the wedge. The price has shown multiple attempts to break above the upper trendline, each followed by short-term consolidation.

This repeated testing indicates that buyers are gradually gaining control, setting the stage for a decisive upward move. The momentum seems to be building for a near-term breakout.

If XRP breaks above the wedge’s upper trendline, the next target is $1.9. This level aligns with prior price activity and represents a significant gain from current levels. Traders monitoring the one-hour chart may consider this setup as a signal for short-term accumulation.

The wedge pattern itself shows compression of volatility, which often precedes strong directional moves. The potential breakout could therefore trigger additional buying interest and accelerate upward momentum.

Next Steps for XRP

Following the wedge breakout, XRP may see increased activity in the coming weeks. Technical indicators suggest that price action compression is ending, which could open the door for a sustained upward run. The $1.9 target is the immediate reference point, but sustained momentum could drive prices higher if the pattern holds and volume increases.

XRP’s chart highlights a bullish technical structure, with a falling wedge pattern showing decreasing selling pressure. With rising buyer interest and the potential for a breakout toward $1.9, XRP may be on the verge of a massive surge.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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