XRP is exhibiting a classic wedge formation reminiscent of its 2017 breakout, signaling a potential surge beyond its all-time high (ATH).
The current price consolidation below $2.90 mirrors historical patterns that preceded significant upward momentum, with targets set at $6.6 and $21.5.
Institutional confidence grows as Amber International integrates XRP into its $100 million crypto reserve, supported by prominent investors like Pantera Capital and Kingkey.
XRP’s wedge pattern and institutional backing suggest a breakout near $2.90, with potential targets at $6.6 and $21.5, highlighting renewed bullish momentum.
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XRP’s price action over the past six months has formed a narrowing wedge pattern on the weekly chart, a technical setup historically associated with strong breakouts. This pattern closely parallels the 2017 cycle, where similar consolidation phases led to explosive price appreciation. The token’s current consolidation below the $2.90 resistance level indicates a buildup of market energy, suggesting that a decisive breakout could be imminent.
Technical analyst @CW8900 highlights that XRP’s wedge convergence has consistently preceded major price expansions, reinforcing the likelihood of a breakout. The recent exit from a long-term wedge in early 2025 and subsequent approach to resistance mirrors previous bullish cycles. Should XRP breach this key level, it could unlock significant upside potential, with price targets at $6.618 and $21.5 emerging as logical next steps.
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Source: https://en.coinotag.com/xrp-shows-potential-breakout-setup-amid-historical-patterns-and-growing-institutional-interest/