Usman Salis
XRP finds itself at one of those make-or-break moments that crypto traders love to see. After riding high earlier this year, the token has been playing it coy around the $2.80 level, forming a classic wedge pattern that's got everyone on edge. These setups are like coiled springs – when they finally snap, the move can be explosive. The big question now is whether XRP has what it takes to finally crack that stubborn $3 barrier or if we're headed for another disappointment.
XRP Price Forms Wedge Ahead of Major Move
Following its impressive run earlier this year, XRP has settled into a consolidation phase that's forming a descending wedge on the daily charts. Right now, it's trading around $2.80, getting dangerously close to the tip of this pattern where things tend to get interesting fast.
Market analyst @Steph_iscrypto has been tracking this setup closely, pointing out that XRP is sitting at a make-or-break moment. Even though we're seeing lower highs, the coin has done a decent job holding the line around $2.70 support, which keeps the bulls hopeful for a positive outcome.
Here's what traders are keeping their eyes on:
- Support zone: $2.70 – $2.75
- Breakout confirmation: A solid close above $3.00
- Bullish targets: $3.20 and $3.50 if momentum kicks in
- Bearish risk: A drop below $2.70 could send it tumbling toward $2.50
If XRP manages to punch through the top of this wedge, we could see some serious bullish fireworks. But if that support gives way, it might get ugly pretty quickly.
Outlook for XRP Price: Bulls vs Bears
XRP is literally sitting on a knife's edge right now. Wedge patterns like this one have a reputation for leading to explosive moves, and with Ripple continuing to push for mainstream adoption while regulatory clouds seem to be clearing, the bulls might just have the edge they need.
That said, traders shouldn't get too comfortable. Until we see a convincing break above $3, XRP could easily get stuck in this pattern longer or even head south. The next few sessions are likely to be bumpy, so keeping risk in check is absolutely crucial.
Usman Salis
