XRP (Ripple) is capturing traders’ attention as it breaks free from a falling wedge formation, a classic bullish pattern that typically signals strong upward moves. This technical development has many market participants eyeing the $3.65 target as XRP’s next significant milestone.

XRP’s daily chart shows months of consolidation within a narrowing wedge pattern, characterized by declining highs and lows. The token recently pushed above the wedge’s descending resistance line, confirming what appears to be a legitimate bullish breakout. Famous analyst STEPH IS CRYPTO identified this setup and highlighted the $3.65 upside target, which would deliver a 22.43% gain from the breakout level.

This technical development suggests XRP may be entering a new phase of upward momentum after its extended consolidation period.

• Immediate resistance at $3.20 where price is currently consolidating
• Technical target of $3.65 based on measured move projections
• Support zone between $2.80-$2.90, marking the former wedge base

The formation of higher lows since early September suggests bulls are steadily gaining control of the price action.

Several fundamental factors are reinforcing XRP’s technical picture. Ripple’s ongoing legal victories against the SEC have improved investor confidence and provided clearer regulatory standing compared to other altcoins. Meanwhile, Ripple’s payment infrastructure continues expanding through new partnerships, maintaining XRP’s relevance in institutional and cross-border finance. The broader crypto market’s recent stability, led by Bitcoin’s consolidation, has also created space for altcoin breakouts to develop.

The falling wedge breakout establishes $3.65 as the primary upside objective. Should momentum accelerate beyond this level, XRP could challenge the psychological $4.00 barrier last reached during previous strong rallies. However, any failure to maintain support above $2.80 would undermine the bullish scenario and potentially force XRP back into sideways consolidation.