XRP/BTC Chart Signals Potential Bullish Reversal Amid Falling Wedge Pattern

XRP has shown renewed strength against Bitcoin, with the XRP/BTC pair climbing over 7% in the past 24 hours. However, beyond the short-term spike, technical analysts are watching a more significant development: a falling wedge formation on the daily chart—often a precursor to a bullish breakout.

A falling wedge is a bullish chart pattern characterized by lower highs and lower lows converging into a narrowing range. While the downtrend may appear bearish, this setup typically indicates waning selling pressure and a buildup toward a potential breakout. According to TradingView, XRP/BTC has been declining for nearly two years, but recent months show tightening price action and lower trading volume—both classic signs of a nearing breakout.

On May 11, XRP/BTC surged nearly 9% from the wedge’s lower boundary to around 0.00002472 BTC. This upward move, while not a full breakout, suggests early bullish momentum. Supporting indicators include a Relative Strength Index (RSI) of 58, signaling growing buying interest, and a bullish crossover in the Moving Average Convergence Divergence (MACD).

Traders are now closely watching for a decisive breakout above the wedge’s upper resistance line. A confirmed move, ideally with increased volume, could open the door to significant gains for XRP against Bitcoin. Some analysts believe this shift could even propel XRP toward the $3 mark in the near future.

While the breakout has yet to materialize, current technical signals point to a critical inflection point for the XRP/BTC pair. If bulls take control, XRP could begin a sustained upward trend, challenging Bitcoin’s recent dominance and rewarding long-term holders.