XRP Charts 'Rising Wedge' To Signal Price Plunge: Technical Analysis

Quick Summary:

The breakdown suggests the attempted recovery from the April 7 lows has likely ended.

The cryptocurrency has also fallen below the Ichimoku Cloud, a momentum indicator, on the hourly chart, reinforcing the bearish outlook indicated by the rising wedge breakdown.Tuesday's high of $2.18 is the level for bulls to beat to invalidate the bearish outlook.

This convergence suggests that upward momentum is weakening.

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Article Details

Author / Journalist: Omkar Godbole

Category: Crypto

Markets: United StatesCuba

Topics: XRP Technical Analysis Research Reports Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-16 @ 05:04:46 (5 days ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 167 words

Reading Time: 1 minutes read

Sentences: 22 lines

Sentence Length: 8 words per sentence (average)

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Copyright Owner: © CoinDesk

News ID: 27941813

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