XRP Price Teeters at Key Breakout Point Amid Wedge Formation

XRP is nearing a critical breakout moment as it trades around $2.19, wedged tightly between a rising support line and a long-term descending resistance. After spending months in a descending triangle pattern, the asset now sits at the tip of a converging wedge — a setup that often precedes a sharp price move. The ascending trendline, active since early April, continues to support bullish sentiment, while the resistance, which has capped gains since January, looms near $2.23.

This price compression, marked by falling trading volume, hints at an imminent volatility spike. Historically, such “volatility pinches” tend to resolve in explosive breakouts or sharp breakdowns. The Relative Strength Index (RSI) hovers around 52, signaling a neutral stance between buyers and sellers. Additionally, the 50, 100, and 200-day EMAs are tightly clustered, reinforcing the market’s indecisiveness and the potential for a big move.

A breakout above $2.23 on strong volume could validate the wedge pattern and push XRP toward the $2.70–$3.00 range, presenting a high-probability bullish setup. However, if the price fails to hold above the ascending support at $2.17, or faces rejection near resistance, a short-term dip toward $1.98 is likely. This would test the 200 EMA and possibly flush out weaker hands before any sustained upward momentum resumes.

As XRP approaches a make-or-break technical point, traders are watching closely for a decisive move. Whether it results in a bullish surge or a bearish pullback, the next few sessions could set the tone for XRP’s trajectory in the coming weeks.