<ul><li>XRP shows positive momentum in a falling wedge, indicating a potential 55-60% breakout to $0.75-$0.80.</li><li>A falling wedge breakout is accompanied by an increase in trading volume.</li><li>XRP, valued at $0.4706 at press time, has gained 15.43% in the past week.</li></ul>Ripple’s XRP is demonstrating positive momentum, after a period of correction. According to World Of Charts, a notable analyst on X, the cryptocurrency has <a href="https://x.com/WorldOfCharts1/status/1811654040666931403" rel="noopener noreferrer nofollow">formed</a> a falling wedge pattern, which is typically a bullish reversal indicator. This pattern has been developing since mid-April, characterized by two converging trendlines with the price making lower highs and lower lows.<img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcdMpdrygQ_HcY4vByWX1yxxHecjMSE1PvUGkSwaebozsNcrL8q_hYpmVAmgFTrBiWg7ynws4DpF4PRXH94PU-avJ4wyE0QACyoUMXRld7Bgg8Yh3EFJZQMdM9j5Avu-BPo0xpf98RvPmZoJYuT4hBG75UN?key&#61;WLnWtW0yueAt9d0I8dgl-Q" />The falling wedge pattern in XRP&#39;s chart is clear, with the price action tightening towards the end of the formation. As of the latest data point, <a href="https://cryptotale.org/bullish-trends-emerge-for-xrp-doge-and-xlm/" rel="noopener noreferrer nofollow">XRP</a> is trading at approximately $0.4596. This consolidation suggests a potential breakout above the upper trendline, which could lead to a significant bullish move. The analyst predicts a breakout target marked by a vertical distance of approximately 61.96% from the breakout point. This projection indicates a possible price increase to around $0.75 to $0.80.<a href="https://cryptotale.org/xrp-shows-signs-of-bullish-breakout-amidst-forming-falling-wedge/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

XRP Shows Signs of Bullish Breakout Amidst Forming Falling Wedge

CryptoTale

Other articles published on Jul 13, 2024

Spot Bitcoin ETF Inflows Reach 2-Month High – Here’s How Much They Bought

ORDI Bounces Back 15% This Week: Is $50 Mark Next

Is Ethereum (ETH) Price Inclined to Go High?

Altcoin Season Is Imminent – Complete Guide for a 50-120X Portfolio

US SEC Closed Door Meeting: Implications For Ripple, Binance, Crypto Market

TOP 5 Blockchains To Invest In For JULY 2024

Join our free newsletter for daily crypto updates!