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Analysis: XRP has fallen below the "rising wedge" support and may face potential pullback risks in the near future.
The breakout of the "rising wedge" pattern of XRP in the technical pattern suggests that the recent rally at $1.60 may be over and sellers are back in control of the market, and the pattern consists of a gradual convergence of highs and lows, which usually signals a weakening of upward momentum and could trigger further declines if the price breaks below the lower band. XRP has now broken below the Ichimoku cloud support, reinforcing the bearish signal, and failure to break above the recent high of $2.18 could put the price at risk of falling back to the $1.6 support level. （CoinDesk）