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Momentum is building for $XRP within a multi-month falling wedge, with a breakout holding the potential for an over 2x rally.
Market analyst Crypto Michael identified this trend in his July 1 X post. His commentary sees $XRP finally breaking free from a pattern that has compressed its price action since November 2024 to retest prior highs.
$XRP Building Momentum for a Breakout
Michael revealed that he has been accumulating $XRP at the current levels, taking advantage of the dip to buy at a lower price. Notably, $XRP has dropped over 70% from its July 2025 all-time high of $3.66. Yet for the experienced market trader, the asset has not lost its appeal, particularly due to a formation on the weekly chart.
The shared chart shows that $XRP has started tightening within a falling wedge. The coin began to form this pattern during the historic November 2024 bull run. $XRP established the structure’s support trendline around $2.10, then consolidated for months before starting to form the upper trendline in July 2025.
$XRP Nears Wedge Breakout/Crypto Michael
Since the peak at $3.66, $XRP has consistently formed lower highs and lower lows. Amid the downtrend, the structure’s upper and lower resistance began to tilt closer to each other, forming a more constricted consolidation.
Notably, when price action becomes more compressed within a structure, it signals that momentum is building. Buyers and sellers are beginning to find a balance, which precedes a violent breakout. It is in anticipation of this decisive move that the analyst noted he was buying $XRP here.
Breakout Targets Major Support
Last week, $XRP tested the lower trendline of this falling wedge, with buyers stepping in to defend the support. A strong start to July has seen the asset bounce from the support, up 6% from the lows to $1.06.
Michael expects a breakout soon towards the $1.90 to $2.10 price region, a 79% to 98% bounce from the current market price. Notably, this is a strong support region for $XRP. During the 2021 bull run, $XRP peaked around this price level, specifically at $1.96.
After breaking above in November 2024 to peak at $3.39 in January 2025, $XRP also pulled back to the $2 support region and built a base there for several weeks. From there, it rallied to its current ATH.
This makes reclaiming the $1.90-$2.10 support crucial. A wedge breakout to this region and a sustained trend above open the path for a moonshot to much higher prices.
Bullish Network Activities Boost Breakout Prospect
The breakout prospect receives a boost from the recent growth in network activity around the $XRP ecosystem. For context, newly activated addresses on the $XRP Ledger reached 6,000 daily, a 3-month high.
$XRP active addresses also increased 36% in two weeks, reflecting renewed network usage. On top of this, the Whale vs. Retail spread across all exchanges rose by 24.9%, showing that whales are rapidly moving $XRP off exchanges more than retail users.
A string of these strong on-chain developments could provide the required fuel for the wedge breakout.
