- XRP nears the top of a multi-month wedge pattern, hinting at a possible breakout.
- Analyst Jaydee says a full candle close above $2.24 could signal major upside ahead.
- RSI momentum aligns with price action, increasing the chances of a trend reversal.
XRP is now hovering around $2.23, sparking renewed speculation about a significant upward move. The token has reached a crucial resistance level, testing the upper boundary of a falling wedge pattern that has kept prices trapped since late 2024.
According to respected crypto analyst Jaydee (@jaydee_757), XRP is on the verge of a significant technical breakout. In his updated chart, the token is shown against the trending lines of decline that have taken the shape of a wedge over days. This structure has since tightened, and XRP occupies the head of this mess, trying to escape.
Jaydee adds that the three-day candlestick has a wick above the resistance line but remains closed above it. A clear upside candle right above this wedge would confirm a breakout, leaving the bulls with a higher price target.
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Technical Indicators Align with Breakout Hopes
Besides the price action, the Relative Strength Index is showing notable movement. RSI currently stands at 50.66 and is testing its own descending trendline, which has restricted upward momentum for some time. A breakout here could support the price breakout narrative and validate bullish momentum.
Jaydee, who previously predicted XRP’s surge to $3.37 with high accuracy, hinted at new take-profit levels, although none were revealed. He stressed that it was necessary to concentrate on confirmation to proceed with further actions, and traders should not be impulsive.
The chart patterns and RSI are finally lining up, which indicates that XRP might be on the verge of a strong movement. However, until a full upper candle close is observed above the wedge, the breakout is not confirmed yet.
Source: X
Sentiment traders are monitoring the XRP trend closely over the next few days, as there is an emerging overall bullish case around the token in July. The following close of candles may be critical to the future direction of XRP, which may go into a powerful rally or remain range-bound.
With XRP testing critical resistance and momentum indicators flashing, all eyes are on the next move. A confirmed breakout could trigger a sharp rally and validate growing bullish expectations.
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