- XRP breakout sparks optimism as traders eye $3.60 target.
- Falling wedge pattern signals bullish reversal, momentum builds rapidly.
- Ripple ETF speculation boosts market confidence, odds soar to 93%.
XRP is once again at the center of attention after breaking out from a falling wedge structure that traders closely monitored for weeks. According to Hardy, a crypto analyst who shared his outlook on X, the breakout could act as a springboard toward the $3.60 level if momentum continues.
The token had been constrained by persistent lower highs through August. However, price action in early September highlighted a strong rebound from the $2.70 to $2.90 support zone, which has now become an important foundation for potential gains.
This reversal has drawn renewed optimism among traders who consider the wedge a classic bullish setup when paired with volume growth.
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Traders Track Technical and Market Signals
The falling wedge is often interpreted as a signal of market exhaustion before a reversal. Hence, XRP’s move outside the pattern is being closely evaluated by chart watchers who want to confirm the trend shift.
Hardy pointed out that the breakout is visible on the 12-hour timeframe, which strengthens the view that further upside may follow. His projection places the next key level around $3.60, marking a significant climb from current prices.
Market participants are also paying attention to resistance points at $3.20 and $3.40. Clearing these hurdles would open the way to the $3.60 target. However, traders acknowledge that if the breakout loses strength, the $2.70 to $2.90 band remains the crucial zone to hold.
Growing Confidence From ETF Speculation
In addition to chart signals, sentiment has been bolstered by speculation around a Ripple-related exchange-traded fund. Data from prediction platform Polymarket shows a 93% chance that a Ripple ETF could receive approval in 2025. The odds recently climbed by 22 percent, reflecting stronger confidence among market observers.
This rising expectation of institutional involvement adds weight to the bullish view around XRP. While technicals drive near-term activity, the potential of an ETF approval offers a broader narrative that supports longer-term interest in the asset.
XRP’s breakout from the falling wedge has sparked optimism that price momentum could extend toward $3.60. Combined with heightened speculation about a possible ETF approval in 2025, the token has regained attention as one of the most closely watched assets in the crypto market.
Also Read: Trump Family Net Worth Surges to $7.7 Billion Fueled by Crypto Holdings
