Crypto analysts are highlighting significant technical patterns forming in XRP's price structure that could signal an imminent bullish breakout. Two prominent analysts, Egrag Crypto and Ali Martinez, have identified distinct formations that suggest a potential major price movement for the cryptocurrency.
Egrag Crypto has drawn attention to a long-term "Bent Fork" structure that he claims most traders are missing. This geometric pattern, visible only on a macro scale, has historically appeared during critical phases in XRP's history, each time leading to a notable price reaction. Egrag argues this isn't about short-term hype but about geometry and long-term cycles. He suggests that if this pattern holds, XRP could see a steady rise in value, potentially reaching a price target of $3 or higher. His analysis focuses on key resistance and support levels, particularly between $0.20 and $3, where XRP has historically consolidated before breakouts.
Simultaneously, analyst Ali Martinez has identified a falling wedge pattern on XRP's 4-hour chart, a formation often signaling a strong bullish reversal. The technical setup points to a potential price surge, with a target of $2.23, should XRP break through its immediate resistance at $2.05. Martinez notes the pattern is marked by converging trendlines, indicating a narrowing price range that typically precedes a sharp breakout.
Technical indicators appear to support the bullish outlook. The Bollinger Bands suggest XRP is nearing the lower end of its trading range, potentially indicating an oversold condition. The Relative Strength Index (RSI) stands at 42.28, showing room for upward movement before hitting overbought levels. While XRP's price remains below key moving averages—generally a bearish signal—the convergence of the falling wedge pattern and other technical factors adds weight to the analysis of a potential breakout.
Both analysts emphasize the importance of looking beyond daily price noise. Egrag Crypto stresses that understanding these long-term cycles and geometric formations is key to making informed, strategic decisions. The critical juncture now is whether XRP can decisively break through the identified resistance levels, particularly the $2.05 mark highlighted by Martinez, which could trigger the predicted rallies.
