- XRP broke out of a multi-month falling wedge and now holds above $1.91, signaling sustained strength and bullish momentum.
- Analysts are targeting $2.95 to $3.87 short-term, with long-term Fibonacci models pointing to explosive upside if wave structure holds.
- July could be pivotal as legal updates and technical consolidation align, setting the stage for a potential breakout toward $29 or higher.
XRP has broken decisively above a long-standing falling wedge pattern, igniting technical momentum and triggering bullish continuation setups. Price consolidation above key structural support now positions the asset for potential breakout targets that could redefine its mid-term trajectory.
A narrowing consolidation above support now suggests renewed accumulation. XRP continues to float above critical structural levels, showing signs of sustained buyer interest. The price behavior points toward a potential leg higher, supported by a clean breakout structure.
Source: (X)
The falling wedge pattern formed from late December through mid-April, with XRP printing lower highs and lower lows. That structure broke in April, when the price exploded above the wedge’s descending resistance. Since then, XRP has held above $1.91, confirming the breakout zone as new support.
This shift from resistance to support highlights a bullish continuation signal. Current price action hovers near $2.18, with a recent high of $2.28 and a low of $2.05. The tight range shows reduced volatility, often a precursor to renewed expansion.
Key support at $1.8502 remains untouched. This level marked the last retracement low before the price bounced, making it an ideal entry for those watching the structure. Traders now eye three bullish targets: $2.9520, $3.3967, and $3.8767—all drawn from Fibonacci projections and wedge height extensions.
Candlestick structure also supports strength. Multiple bullish bodies formed after the breakout, each pushing higher with minimal wick downside. So far, the asset has respected the bullish formation without showing distribution or major rejection.
Long-Term Structure Implies Explosive Potential
Zooming out, XRP’s macro chart presents a symmetrical triangle spanning nearly a decade. This formation contains a complete Elliott Wave cycle, with Wave (1) peaking above $3.20 and a corrective W-X-Y wave bottoming near $0.12.
Source: (X)
The base of this corrective zone intersects the 0.5 Fibonacci retracement from the entire run, resting near $0.125. Price has repeatedly bounced here, showing macro support. Now hovering just above $0.25, XRP appears to be setting up for Wave (3), often the most aggressive leg in an Elliott structure. If confirmed, Fibonacci projections extend beyond $822. Though ambitious, the path mirrors the structure’s rhythm and long-term historical compression.
Market Timing and Sentiment Point to July Inflection
Observers cite July as critical, with legal catalysts on the horizon. The SEC must update the court by June 16, and the crypto community expects resolution clarity. Analysts are already forecasting levels at $29 and $46 if momentum carries through. Until major support is broken, XRP maintains a technically bullish outlook.
