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.
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.
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.
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