Bullish Bias: The chart suggests a bullish outlook with a breakout from a multi-year wedge and Fibonacci targets as high as ~$16.8.
Current Pullback: The price is pulling back after breakout (possibly retesting previous resistance as support).
Risk Area: Orange box shows a potential invalidation or pullback zone before another rally.
Descending Broadening Wedge (Pattern)
A large wedge spans from 2017–2025, marked by two converging black trendlines.
XRP has broken above the wedge (bullish breakout).
Fibonacci Levels (Orange horizontal lines on the right)
0.618: ~$5.91
0.786: ~$17.87
0.88: ~$32.06
These levels are likely drawn from the ATH (All-Time High) to a major low.
Current Pullback: The price is pulling back after breakout (possibly retesting previous resistance as support).
Risk Area: Orange box shows a potential invalidation or pullback zone before another rally.
Descending Broadening Wedge (Pattern)
A large wedge spans from 2017–2025, marked by two converging black trendlines.
XRP has broken above the wedge (bullish breakout).
Fibonacci Levels (Orange horizontal lines on the right)
0.618: ~$5.91
0.786: ~$17.87
0.88: ~$32.06
These levels are likely drawn from the ATH (All-Time High) to a major low.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.