Main takeout:
The falling wedge pattern of XRP signals optimistic reversal. 48% price surgeot potential.
SEC’s WisDomtree’s XRP ETF can be interested in investors as the probability of approval increases to 84%in the polymarket.
The XRP price forms a wedge pattern that falls on the daily chart, which is a technical chart forming related to strong optimistic momentum after the upward wave. With the review of the SEC for WisDomtree’s SP SPOT XRP ETF application, can this technology settings know the start of the rally to more than $ 3.40?
The XRP fall wedge pattern is $ 3.40
From a technical point of view, XRP (XRP) prices can get significant propulsions when they get out of this falling wedge pattern.
The wedge falling from the technology analysis is a strong reversal chart pattern that includes two convergence trend lines that connect the lowest and low minimum lines. This convergence indicates that the downward momentum weakens.
XRP Price is currently testing the resistance provided by the top trend of wedges to $ 2.42. If you increase this level, the price can rise rapidly, and Bulls has a $ 3.40 technical goal of Wedges, up 48% from the current price.
The relative robbery index (RSI) rose from 31 to 47 on April 8, indicating that optimistic momentum is accumulating.
However, in order to maintain ongoing recovery, the price of the XRP must first be supported at $ 2.20, and then overcome the resistance between $ 2.60 and $ 2.80.
Some analysts are optimistic about the recoil, and the evident merchant Cryptowzrd said that the XRP can be $ 2.90 due to the falling wedge verification.
Trader added to X in the post on May 28:
“This wedge will lead to a $ 2.80 resistance, which will be higher than that resistance.
As reported by COINTELEGRAPH, XRP prices must first organize the route for the highest in violation of the major $ 2.48 resistance level.
Are you coming to XRP ETF?
Us Securities and Exchange Commission (Sec) officially began to review the Spot Exchange-Traded (ETF) application by official Wisddomtree XRP Trust.
∎ New: The SEC officially reviews the proposed place of WisDomtree. $ XRP ETF is currently accepting public opinion. pic.twitter.com/3b4uwj6n4s
-COINTELEGRAPH (@coingraph) May 28, 2025
The notification announced by the SEC on May 27 will start the 21 -day public opinion period and the 240 -day review timeline, reflecting the structural evaluation of investor protection and market manipulation risks.
This product traces the price of XRP through the CME CF Ripple-Dollar Reference ratio, providing indirect exposure to investors without having to own assets.
By December 31st, the probability of betting on XRP ETF approval is now 84%in Polymarket. Over the last month, the probability of approval has increased 21% to YES from about 63% on April 22.
Bloomberg’s chief ETF analyst predicted the 85% chance of approval of XRP ETF after changing the leadership of the SEC.
The approval of this fund can unlock institutional capital to amplify the demand for XRP and potentially lead to price to 3-$ 8. Some analysts predict that if a major player like BLACKROCK comes in, the XRP price will increase to $ 50.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.