Alex Dudov
⬤ XRP is holding steady near the $1.80 support level after a prolonged downward correction. The chart shows this price point has been defended multiple times, establishing it as a critical foundation. Right now, XRP is trading inside a falling wedge pattern that's been forming over the past several weeks.
⬤ The wedge shows descending resistance meeting converging support lines. What's interesting here is that each dip has produced weaker follow-through, suggesting sellers are losing steam rather than gaining control. The $1.80 zone has repeatedly absorbed selling pressure without breaking down, which points to stabilization at these levels rather than panic selling.
⬤ Recent price action shows XRP respecting the wedge support while bumping against the descending resistance trendline. The setup presents two scenarios: either a quick retest of $1.80 support or a rally if the upper wedge line breaks. A clean move above resistance would signal a shift in market structure and potentially kick off a new directional phase. Until that happens, price remains locked inside the pattern.
⬤ Falling wedges typically mark transition zones where volatility expands once resolved. Holding $1.80 keeps the bullish setup alive and maintains breakout potential. A break below this support, however, would invalidate the pattern and shift attention to lower price zones. With the wedge narrowing, the next few sessions should be critical for XRP's near-term direction.
Alex Dudov
