XRP Replicates This Historic Bullish Pattern—What to Anticipate

crypthub

1 day ago

Technical Parallel to 2017

The present XRP chart mirrors the pattern that preceded its 2017 surge. Both periods show a long consolidation that ended with a sharp pull‑back forming a falling wedge. In 2017 the wedge compressed lower highs and weakened selling pressure before breaking upward. Today’s weekly chart exhibits the same descending resistance and tightening structure.

Wedge Completion and Market Shift

Falling wedges usually signal exhaustion rather than continuation, and XRP’s decline has lost momentum. The price has recently breached the upper boundary of the wedge, indicating buyers are stepping in earlier. This breach changes the stance from correction to a potential expansion phase. Analysts note the structure resembles the “final reset before the breakout” seen in 2017.

Potential Breakout Outlook

If XRP holds above the former wedge resistance, the corrective phase is considered invalidated and upward momentum may resume. Historical precedent suggests a rapid rally could follow the breakout, pushing the asset to higher levels. Traders are expected to reassess risk and look for bullish positioning. The analysis is informational and not financial advice.