Date: Fri, June 13, 2025 | 10:20 AM GMT
The cryptocurrency market has just experienced a brutal shake-up. Ethereum (ETH) took a sharper 8% hit, now hovering near $2,500, following mounting geopolitical tensions, as Israel reportedly launched large-scale airstrikes on Iran. Unsurprisingly, altcoins weren’t spared — and Xrp (XRP) is among the notable names facing a pullback.
$XRP is currently down by more than 4%, trading at $3.13. But a closer look at the daily chart suggests that this decline might not necessarily spell doom. In fact, it might be part of a classic technical retest following a bullish breakout.
Source: Coinmarketcap
Retesting Falling Wedge Breakout
XRP had been consolidating within a falling wedge pattern since mid-May after a sharp 27% rally from $2.07 to $2.65. The wedge—a pattern typically viewed as a bullish reversal setup—finally saw a breakout on June 8, with price surging to a local high of $2.3379.
XRP 4H Chart/Coinsprobe (Source: Tradingview)
However, as market-wide weakness set in, XRP has pulled back to retest the former wedge resistance trendline. It’s now sitting near the $2.13 mark, just above a strong horizontal support zone at $2.08—a level that previously served as a launchpad for upward moves.
What’s Next for XRP
The current setup leaves XRP at a technical crossroads:
Bullish Scenario: If the $2.08 horizontal support and the retested wedge trendline hold, a bounce back toward the measured target of $2.80 remains in play. This level is derived from the wedge's height at its widest point, projected from the breakout.
Bearish Breakdown: On the flip side, failure to hold $2.08 would invalidate the breakout, possibly opening the door to deeper corrections toward $2.00 or below.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always perform your own due diligence before making any investment decisions
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
XRP Retesting Key Breakout – Will It Make a Bounce Back?
Date: Fri, June 13, 2025 | 10:20 AM GMT The cryptocurrency market has just experienced a brutal shake-up. Ethereum (ETH) took a sharper 8% hit, now hovering near $2,500, following mounting geopolitical tensions, as Israel reportedly launched large-scale airstrikes on Iran. Unsurprisingly, altcoins weren’t spared — and Xrp (XRP) is among the notable names facing a pullback. $XRP is currently down by more than 4%, trading at $3.13. But a closer look at the daily chart suggests that this decline might not necessarily spell doom. In fact, it might be part of a classic technical retest following a bullish breakout.
Source: Coinmarketcap Retesting Falling Wedge Breakout XRP had been consolidating within a falling wedge pattern since mid-May after a sharp 27% rally from $2.07 to $2.65. The wedge—a pattern typically viewed as a bullish reversal setup—finally saw a breakout on June 8, with price surging to a local high of $2.3379.
XRP 4H Chart/Coinsprobe (Source: Tradingview) However, as market-wide weakness set in, XRP has pulled back to retest the former wedge resistance trendline. It’s now sitting near the $2.13 mark, just above a strong horizontal support zone at $2.08—a level that previously served as a launchpad for upward moves. What’s Next for XRP The current setup leaves XRP at a technical crossroads: Bullish Scenario: If the $2.08 horizontal support and the retested wedge trendline hold, a bounce back toward the measured target of $2.80 remains in play. This level is derived from the wedge's height at its widest point, projected from the breakout. Bearish Breakdown: On the flip side, failure to hold $2.08 would invalidate the breakout, possibly opening the door to deeper corrections toward $2.00 or below. Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always perform your own due diligence before making any investment decisions