• XRP/BTC forms a falling wedge pattern with an inverted hammer, signaling possible bullish reversal.
• RSI shows weakening bearish momentum, holding near long-term support at 44.75.
• Price targets align with Fibonacci levels, setting up 0.00009200 BTC as potential breakout zone.

After months of sideways price action, the XRP/BTC trading pair is showing technical signs of life, leading analysts like EGRAG CRYPTO to believe a major trend reversal is soon to happen.

According to the analyst, a combination of classic chart patterns on the XRP vs. Bitcoin chart suggests that after a long downtrend, a breakout may be setting up.

The analyst’s latest XRP/BTC chart shows an inverted hammer candlestick forming after a prolonged downtrend. This pattern appears near the top of the wedge, often signaling a reversal in trend. The analysis also presents a falling wedge, a structure that suggests price compression and usually ends with a breakout to the upside.

The falling wedge began after XRP/BTC peaked and started forming lower highs and lower lows. The price currently moves inside this narrowing…

The post Is XRP/BTC Preparing to Rally? Wedge and RSI Say It Might appeared first on Coin Edition.

• XRP/BTC forms a falling wedge pattern with an inverted hammer, signaling possible bullish reversal.
• RSI shows weakening bearish momentum, holding near long-term support at 44.75.
• Price targets align with Fibonacci levels, setting up 0.00009200 BTC as potential breakout zone.

After months of sideways price action, the XRP/BTC trading pair is showing technical signs of life, leading analysts like EGRAG CRYPTO to believe a major trend reversal is soon to happen.

According to the analyst, a combination of classic chart patterns on the XRP vs. Bitcoin chart suggests that after a long downtrend, a breakout may be setting up.

The analyst’s latest XRP/BTC chart shows an inverted hammer candlestick forming after a prolonged downtrend. This pattern appears near the top of the wedge, often signaling a reversal in trend. The analysis also presents a falling wedge, a structure that suggests price compression and usually ends with a breakout to the upside.

The falling wedge began after XRP/BTC peaked and started forming lower highs and lower lows. The price currently moves inside this narrowing…

The post Is XRP/BTC Preparing to Rally? Wedge and RSI Say It Might appeared first on Coin Edition.