Analyst Says XRP Loves Wedges, Predicts Current Falling Wedge To Push XRP Price

Market analyst CryptoWZRD claims XRP loves wedges, suggesting the next falling wedge breakout could push XRP price to a new all-time high.

His analysis comes on the back of another falling wedge structure triggered by XRP’s price movements over the past few days. Notably, the current wedge structure is one of multiple similar patterns witnessed by the altcoin in recent times, leading to CryptoWZRD’s latest assertion.

XRP Trades Within Another Falling Wedge 

Data from an accompanying chart confirms that XRP formed the ongoing wedge pattern after it collapsed from the recent seven-year peak of $3.4 last week, specifically on Jan. 16, 2025. Since this top, XRP price has struggled to find its footing, collapsing to a low of $2.8 on Jan. 19 before sharply rebounding.

Since Jan. 16, XRP has been in a consolidation, fighting to record a decisive push above the recent $3.4 peak. Amid this battle between bulls and bears, CryptoWZRD’s chart highlights the formation of a falling wedge structure. At its current position, XRP is still largely below the upper trendline of the wedge.

Notably, to retest the resistance at the upper trendline for a possible breakout, XRP price must reclaim the Jan. 20 highs of $3.3, which would require a mere 5% uptick from the current position. With the 4-hour CCI now at -40, indicators suggest XRP is getting oversold amid the weakening strength.

Interestingly, this position can be rather bullish, as it confirms XRP has more room for extended growth once the bulls recover. A push above the $3.35 mark could see XRP retesting the falling wedge’s resistance, potentially engineering a breakout that could result in a more substantial uptrend.

Breakout Eyes $4 Target

CryptoWZRD believes this uptrend would likely take XRP to a new all-time high, with a target of $4, representing an 81% increase from recent lows. However, with XRP now trading for $3.14, a rally to the $4 psychological mark would only demand a 27% upsurge from current levels. 

The market analyst’s confidence largely comes from previous XRP performances around wedge patterns. Just before the current structure, XRP observed a previous falling wedge pattern when it dropped from $2.9 on Dec. 3, 2024. This previous wedge persisted for over a month.

Remarkably, after XRP secured a breakout from the structure on Jan. 11, 2025, its fortunes flipped. Immediately, the bears mounted a massive upsurge, which eventually led to the most recent peak of $3.4. CryptoWZRD believes a similar rally would ensue once the current wedge gives way.

Notably, besides CryptoWZRD, several analysts have also projected the $4 target. Last month, Ali Martinez predicted that XRP could reach $4 after breaking the $2.6 resistance. XRP has since breached this roadblock. Most recently, Oscar Ramos suggested he was accumulating XRP before it eventually hits $4.

Meanwhile, market watcher Luca called attention to a bull flag formation on the 2-hour XRP chart. This pennant structure has endured since the $3.4 peak on Jan. 16, and a break above could be bullish for XRP.