XRP Army Alert: Ripple’s Wedge Pattern Hints at a Major Move Ahead

XRP trades near $2.53 as analysts track a wedge pattern with breakout potential. Whale activity, support zones, and partnerships in focus.
Olivia Stephanie

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XRP is trading in a tight range after a recent pullback, while traders wait to see which direction the next breakout may take.

At the time of writing, the token is priced at $2.53, up 2% in the past 24 hours, though still down 12% over the past week, based on CoinGecko data.

Pattern Suggests Two Possible Scenarios

Crypto analyst EGRAG CRYPTO pointed to a descending broadening wedge on the chart. Based on this structure, there is a 57% chance of a break to the upside and a 43% chance of a move lower.

XRP price chart
Source: EGRAG CRYPTO/X

If the lower outcome plays out, EGRAG mentioned a possible retest of the $0.50 area, based on measured move projections. On the other side, a successful breakout to the upside could take the price toward the $9 region.

They also referenced earlier trades where some sold around $2.70 to $2.80, and XRP is now sitting near $2.50 to $2.60. EGRAG noted,

“If you want to sell now, go ahead, no hard feelings… Just don’t come back to me later saying you wish you had sold.”

Long-Term Structure Still Holds

Analyst ChartingGuy shared a monthly chart showing that XRP is still trading above the $1.61 support. This level lines up with the 0.786 Fibonacci retracement and a former resistance zone from 2021. While Ripple’s token recently failed to hold above $3.31, the 0.886 Fibonacci level, it continues to print higher lows.

Notably, the same chart shows potential future levels near $3.31, $8, $13, and $27, based on standard Fibonacci extensions. These levels may act as price targets if XRP holds its current structure. Referring to the larger time frame view, ChartingGuy said,

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Whale Activity Linked to October Drop

As reported by CryptoPotato, large wallets began moving XRP to Binance in the first half of October. This followed a quiet period in September. The timing of these transfers matched a 20% drop in price, adding pressure during the decline.

Meanwhile, open interest across XRP futures fell sharply from $9 billion to around $4.17 billion. This move came as broader crypto markets saw forced selling and deleveraging across several major tokens.

Partnership Announcement Supports Sentiment

Ripple confirmed a new partnership with Immunefi, launching a security testing program for the XRP Ledger. The test includes a $200,000 bug bounty, set to run from October 27 to November 24.

This announcement came as XRP slid through key levels, offering a short-term lift in sentiment. Traders are now watching price levels closely as the wedge pattern nears a potential breakout point.

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About the author

Olivia Stephanie is a FinTech enthusiast with a sharp insight into financial markets. Her deep interest in economics and finance drives her exploration of blockchain innovations and the evolving world of cryptocurrencies.