Eseandre Mordi
⬤ XRP has found its footing after sliding back from the $2.40 mark, and the technical setup still looks promising. The price is hanging onto the $1.90 zone, which has been acting as a solid floor during this cooldown period. That's actually a good sign—it means the falling wedge pattern that's been building since October is still intact and hasn't fallen apart.
⬤ The wedge itself tells an interesting story. You've got lower highs and lower lows squeezing together between two converging lines, which typically means sellers are running out of steam. The upper edge of this wedge sits right around $2.70, and that's where things could get interesting if the pattern plays out the way these formations usually do.
⬤ Recent price action near the bottom of the wedge shows XRP trying to bounce back after testing that $1.90 support. The fact that it's stayed above this level after dropping from $2.40 suggests the technical structure is holding up well. While it hasn't challenged resistance yet, maintaining this support keeps the door open for upside movement.
⬤ Falling wedges often represent a coiling spring—pressure builds until something gives. For XRP, staying above $1.90 keeps the bullish scenario alive with $2.70 as the next meaningful target. If that support breaks though, the whole pattern loses credibility and traders will need to rethink their short-term outlook.
Eseandre Mordi
