- XRP breakout from falling wedge pattern signals strong bullish momentum ahead.
- SEC approval of XRP futures ETFs boosts investor confidence and market activity.
XRP is gaining market attention as analysts show signs of a strong bullish trend. Captain Faibik reported that XRP is setting up for a significant rally. Following a key breakout pattern, a midterm price target of $5 has been suggested.
Crypto trader Captain Faibik shared a chart showing XRP breaking above a long-term descending resistance line. The chart highlights a falling wedge pattern, commonly linked to bullish reversals.
According to Faibik, the breakout suggests buyers are regaining control after months of consolidation. The chart’s background gradient from blue to yellow visually supports the bullish outlook.
XRP had been trading in a tightening range, forming lower highs with steady lows. As the price neared the wedge’s apex, buying pressure intensified. Momentum surged once the resistance line was breached, indicating strong buyer interest.
Faibik emphasized that historical breakouts of this nature often lead to extended rallies, encouraging traders not to miss the move. Based on his analysis, a midterm target of $5 remains reasonable.
XRP Price Action Points to Continued Gains
Further analysis of XRP shows consistent bullish momentum with the formation of multiple triangle patterns. The chart reveals an expanding triangle followed by several symmetrical triangles, all suggesting a healthy uptrend. Each breakout has seen XRP establish higher lows, supported by an ascending trendline.
The most recent breakout targets a short-term range between $2.40 and $2.60. Analysts noted that XRP’s structure hints at minor pullbacks followed by steady gains. Maintaining the ascending trendline could drive XRP towards the midterm price projections.
The technical setup remains favorable, signaling ongoing buyer control and potential further upside if resistance levels are cleared.
XRP Futures ETFs Approved, Spot ETF Launches in Brazil
The U.S. Securities and Exchange Commission (SEC) approved the launch of multiple XRP futures ETFs under ProShares Trust. Products include the ProShares UltraShort XRP ETF, ProShares Ultra XRP ETF, and ProShares Short XRP ETF.
These ETFs offer leveraged and inverse exposure based on XRP futures pricing. While U.S. traders await the green light for spot ETFs, progress is happening elsewhere. Brazil’s first-ever XRP spot ETF launched on the B3 stock exchange.
According to an official press release, the listing marks a key development for XRP’s adoption outside the U.S. Markets are closely watching how futures and spot products will impact XRP’s overall liquidity and price dynamics in the coming months.At the time of writing, XRP is priced at $2.30, marking a 1.86% increase over the past 24 hours.
