Crypto analyst CryptoBull (@CryptoBull2020) has released a bullish forecast for XRP based on a long-term chart pattern. In a post shared on X, the analyst highlighted a bullish falling wedge on the 1-day XRP chart, accompanied by a broader bullish triangle that incorporates wick movements.
The chart implies that XRP is nearing a breakout, with the price expected to reach as high as $5 before settling near $3.85, just above its all-time high of $3.84.
#XRP Update: huge bullish falling wedge with an even bigger bullish triangle covering the wicks. We will break out soon and price will wick up to $5 and close around $3.85. pic.twitter.com/rqbIASYRpl
— CryptoBull (@CryptoBull2020) April 21, 2025
Bullish Patterns Identified and Timeline
The falling wedge shown on the chart consists of lower highs and lower lows, a pattern that is often interpreted as bullish in technical analysis. It indicates that downward momentum is weakening, which can eventually lead to an upside breakout.
CryptoBull reinforces this view by outlining a larger triangle formation that contains all the candle wicks, suggesting strong long-term accumulation and consolidation.
The convergence of these two structures enhances the credibility of the forecast. According to the analyst, once XRP breaks above the wedge’s resistance line, a price move up to $5 is likely, though the final daily close may settle closer to $3.85.
When asked for possible timeline to watch, CryptoBull sets this bullish action for the end of April.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Measured Move Supports Target Range
Other analysts have predicted a move to $5, and CryptoBull’s projected price range appears to be derived using the measured move technique.
This involves taking the vertical height of the triangle or wedge and projecting it upward from the breakout point. It’s a standard method used in chart analysis to estimate potential price targets following a confirmed breakout.
While the breakout has not yet occurred, XRP is positioned near the upper trendline of the wedge, suggesting that a resolution is close. A confirmed breakout would require a strong daily close above this line, ideally supported by an increase in trading volume.
The digital asset is trading at $2.08. Notably, CryptoBull has been tracking this falling wedge for weeks, and with the asset close to a breakout, we could see a new all-time high soon.
CryptoBull’s post adds to a growing body of technical analysis pointing to a potential move in XRP. Recent analysis suggests the asset could reach as high as $70, and CryptoBull’s chart does not rely on speculation but instead uses well-established charting principles to support the forecast. For traders and investors, the setup offers a defined technical scenario to monitor over the coming days.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on X, Facebook, Telegram, and Google News
