XRP Technical Analysis: Descending Wedge Points to $9.50 Target

The current technical landscape for XRP presents a stark contrast between long-term bullish formations and immediate bearish pressure. Analyst EGRAG CRYPTO has identified a Descending Broadening Wedge pattern on a 2-week chart, a formation characterized by a series of lower highs and lower lows that typically precedes periods of high volatility. According to the analysis shared by EGRAG CRYPTO, this setup suggests a breakout is imminent. The potential outcomes are binary and extreme: a successful break above the pattern’s upper trendline projects a staggering move to $9.50—a 360% increase from current levels—while a failure and break below support points to a downside target around $0.50.

Adding another layer to the analysis, Rose Premium Signals posted a 2-day chart showing XRP bouncing off the lower trendline of an ascending channel, a level that has provided support multiple times in recent months. This bounce, if it holds, outlines a series of upside targets at $2.3, $2.6, $3, $3.57, and $4.1. The chart from Rose Premium Signals also notes the possibility of a short-term dip to the $1.5–$1.6 zone before a potential rally, with one longer-term projection pointing to a move as high as $4.87 over the coming months, contingent on price stability and broader market strength.

Despite these optimistic long-term patterns, XRP faces significant short-term headwinds. As highlighted by CryptoWZRD in a daily outlook, the asset is currently trading just below a key resistance zone at $2.27 and is testing the $2.07 level as short-term support. A reversal from this area could trigger a move toward that resistance, but both XRP and the XRP/BTC pair ended the recent trading day with bearish candles. The $2.00 level is widely noted as the main downside support to watch.

This technical pressure is compounded by on-chain and social metrics. Analyst Steph Is Crypto reported a notable drop in the percentage of XRP held by addresses for 6–12 months, from 26.18% to 21.65%, indicating distribution from this cohort. Furthermore, data tracked by Ali Martinez shows that approximately 140 million XRP were recently moved or sold by large wallets, signaling substantial selling pressure. The sentiment backdrop has also deteriorated. Data from Santiment reveals that social media sentiment toward XRP has turned more negative, with fear-driven commentary reaching its highest level since October.

The convergence of these factors sets the stage for a potentially volatile period for XRP. The technical patterns identified by EGRAG CRYPTO and Rose Premium Signals suggest that the asset is coiling for a major directional move, with wildly different outcomes depending on which key level breaks first. The immediate battle will be fought between the $2.00 support and the $2.27 resistance. A decisive break above $2.27 could provide the initial momentum needed to challenge the higher targets outlined in the ascending channel analysis.

Conversely, a sustained break below the crucial $2.00 support level would not only invalidate the short-term bullish structure but could also trigger the bearish scenario of the Descending Broadening Wedge, opening the path toward much lower prices. With Bitcoin dominance showing signs of softening and traditional markets approaching a weekly close, analysts expect more random price action in the near term. The next major trend for XRP will likely be determined by whether it can withstand the current selling pressure and negative sentiment to capitalize on its bullish chart formations, or if the weight of distribution pushes it toward testing lower supports.