Saad Ullah
XRP is cooking up something big right now. Ripple is forming what he calls a "monster of a wedge" on the daily chart - and these kinds of patterns usually mean fireworks are coming.
The chart shows XRP sitting around $1.68, all squeezed up inside this symmetrical triangle that's been building since XRP hit its peak near $3.30. We're talking about a multi-year wedge here, stretching from those $3.30 highs all the way down to lows around $1.00.
XRP Wedge Pattern Ready to Explode
What's got traders excited is that this wedge is getting tighter and tighter. The apex is right around the corner, which usually means the big move is about to happen. @AltcoinGordon isn't mincing words about it either - "When this breaks, it will FLY," he posted, telling his followers to "stay ready."
The setup is pretty straightforward. If XRP can punch through that upper trendline around $2.00, bulls could be looking at a run back to those previous highs around $3.30. That's nearly a 100% move from current levels.
XRP (Ripple) Price: Make or Break Time
But here's the flip side - if XRP breaks down below support at roughly $1.50, this whole bullish setup goes out the window. That's the risk with these wedge patterns. They can go either way, but when they break, they usually break hard.
Right now, XRP is just hanging out at $2.61558, right in the middle of this whole formation. Everyone's watching to see which way it's gonna go. The tension is building, and honestly, it feels like we're getting close to finding out what XRP has in store.
The bottom line? This wedge has been years in the making, and we're finally at the point where something's gotta give. Whether it's up or down, XRP traders better be ready for some serious volatility.
Saad Ullah
