Key takeaways:
XRP’s falling wedge pattern signals a bullish reversal; 48% price surge potential.
SEC’s review of WisdomTree’s XRP ETF could spark investor interest as approval odds jump to 84% on Polymarket.
XRP price is forming a falling wedge pattern on the daily chart, a technical chart formation associated with strong bullish momentum following an upward breakout. Could this technical setup, coupled with the SEC’s review of a spot XRP ETF application by WisdomTree, signal the start of a rally to $3.40 and higher?
XRP falling wedge pattern targets $3.40
From a technical perspective, XRP (XRP) price could gain significant momentum if it breaks out of this falling wedge pattern.
In technical analysis, a falling wedge is a bullish reversal chart pattern that comprises two converging trend lines that connect lower highs and lower lows. This convergence indicates a weakening downward momentum.
XRP price is currently retesting the resistance provided by the upper trendline