Ripple's XRP has recently experienced a significant technical breakthrough, with the price breaking above the crucial falling wedge's upper boundary after intense buying pressure. The asset benefited from support provided by the 100-day moving average and the wedge's lower boundary near $2.7, fueling a fresh spike that culminated in a breakout above the pattern.
This move marks a clear bullish market structure shift, though analysts warn of a potential temporary pullback to the broken level at $2.9, which could serve as a retest zone. If this level holds, Ripple's next upside targets remain the critical $3.4 and $3.6 resistance thresholds.
However, the rally appears shaky as Bollinger Bands show the momentum slowing down. XRP failed to hold above the upper band near $3.14, which often signals that bull momentum is fading. The asset is currently trading around $3.09, caught between the top of the bands and the middle line, with technical indicators suggesting the market tends to drift lower before buyers step in again without a clear breakout.
The weekly chart shows more stability, with XRP holding its 20-week average around $2.64, though it hasn't reached the higher $3.52 band yet. Shorter-term charts are already softening, as XRP pulled back from just under $3.20 to test the $3.05 area. The key factor remains whether XRP can turn $3 into solid support, as failure to do so risks sliding back into the $2 range.