XRP Forms Bullish Falling Wedge Amid Correction; Traders Eye Breakout Toward $3.66

Market Context

XRP has mirrored resilient altcoin activity throughout September, with positive price movement in crypto markets and growing optimism around institutional drivers like potential spot ETFs and Ripple’s regulatory clarity.
 

Technical Details

• Pattern Formation: XRP’s sharp rally ended at $3.66, followed by a consolidation into a falling wedge—a structure frequently preceding bullish reversals.
• Support & Resistance: Critical support resides around $2.70–$2.69, tested multiple times and holding steady. A successful breakout above the $3.00–$3.10 zone may pave the way for a rally back to $3.65 or beyond.
• Targets: Analysts liken the current setup to XRP’s 2017 cycle, forecasting potential moves toward $5–$7 if a breakout materializes.
• Exchange Flows: Notably, exchange balances—particularly on Binance—surpassed 3.55 billion XRP, possibly signaling mounting selling pressure if unlocked.
   

Analyst Perspectives

Market watchers regard the falling wedge as a constructive technical development, implying the post-rally dip may be a consolidation phase rather than trend exhaustion. Yet, concerns remain over elevated exchange reserves that could amplify downside. A confirmed breakout past key resistance points is needed to consolidate a bullish revival.

Global Impact Note

A breakout could reignite altcoin momentum and underscore XRP’s relevance in global crypto infrastructure—particularly for cross-border settlement and liquidity strategies. Conversely, failure to break resistance may warrant caution among global investors relying on technical momentum. Regulatory clarity and ETF developments remain pivotal catalysts.