XRP’s Great Escape: Will It Leap Past $3 or Face the Wedge of Doom? 🤑

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Well, I say, old bean, XRP seems to be in a bit of a pickle, what? After losing its zest in September, it’s been pottering about in a tightening range, like a chap trying to decide between a spot of tea and a stiff drink. Both the USDT and BTC pairs are teetering on the brink, poised to make a move that could either send the markets into a tizzy or leave them as flat as a pancake. 🥞

Technical Analysis

By Shayan, the fellow who’s been staring at charts until his eyes crossed.

The USDT Pair

Against the trusty USDT, XRP is clinging to $2.98 like a chap holding onto his last quid at the club bar. It’s bounced back from the $2.60 zone, where the 100-day MA and the lower boundary of the falling wedge pattern played the role of a sturdy umbrella in a sudden downpour. ☔

Now, the price is having a go at the upper boundary of the wedge, which has been as stubborn as a mule since mid-July. If it manages to break above $3.00, it could be off to the races toward the $3.60 resistance. But, heavens above, if it’s rejected, it might find itself back in the $2.60 zone, or worse, flirting with the 200-day moving average or the lower boundary of the large ascending channel. Talk about a rollercoaster! 🎢

The BTC Pair

Over on the BTC pair, things are just as thrilling. It’s perched just above the 2,500 SAT zone, snugly aligned with the Fibonacci retracement golden zone, like a chap trying to balance a tray of champagne flutes. 🥂 The price is consolidating after running out of puff at the 3,000 SAT level, and now it’s facing the 100-day and 200-day moving averages as critical support. Talk about a cliffhanger!

A decisive break below the 2,500 SAT area could send the pair tumbling toward the 0.618 retracement level at 2,350 SAT, or even lower to the imbalance around 2,250 SAT. On the flip side, if it holds the 0.5 level and regains its footing around 2,700 SAT, it might just fancy another crack at the 3,000 SAT high. But, as they say, caution is the better part of valor, so best to wait until the price shows its hand. 🃏

XRPBTC Chart: The Great Wedge of Uncertainty

 

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2025-10-02 19:22