HomePrice PredictionsXRPXRP Consolidates as Falling Wedge Signals Breakout Potential!

XRP Consolidates as Falling Wedge Signals Breakout Potential!

Date:

XRP Technical Analysis: 5 MAY 2025

Alt Coin Beacon - XRPUSDT_2025-05-05_14-41-17

XRP holds the intra-day supports. Source: TradingView

General View

XRP has been moving in a controlled pullback after facing rejection from the intra-day resistance zones near $2.35. In response, bulls have stepped in at the intra-day support around $2.10, helping the price stabilize. This has now created a narrow range between $2.10 to $2.35, where both bulls and bears are in a stand-off. Interestingly, a falling wedge pattern is also starting to take shape on the chart, hinting at a potential breakout to the upside.

On The Upside

The first hurdle for bulls remains the $2.20 intra-day resistance, followed by $2.25. Both of these are challenging levels for the session. As for the major hurdle, that remains at the $2.35 level. XRP has faced recent rejection from this level, and as long as bulls continue to reject off this level, sustainable upside remains questionable.

On The Downside

The session’s primary support is at the $2.125 level, followed by $2.05. Both these are decent supports and have been holding the price above them since mid-April. However, if bulls fail to demonstrate any strength, this support comes under stress.

Alt Coin Beacon - XRPUSDT_2025-05-05_14-44-13

XRP is in a falling wedge pattern. Source: TradingView

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Usman Ali
Usman Ali
A writer and market analyst with expertise in cryptocurrencies. He focuses on delivering clear, insightful, and well-structured content, emphasizing advanced trading strategies and in-depth market analysis. His writing style prioritizes clarity and professionalism, ensuring that complex market trends are easy to understand. He is keen on keeping his work organized, direct, and valuable for his audience.

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