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This Wednesday, the U.S. will release May CPI data — a key test for rate cut expectations. Cleveland Fed forecasts 2.4% YoY CPI (up from 2.3%), with core CPI flat.
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💬 Could stablecoins be - Trading Myth vs Reality: Rising Wedge
❌ Myth
"A rising wedge is a bullish signal; buy immediately once the pattern completes."
✅ Reality
Proper rising wedge trading requires confirmation:
1.A clear break below the lower line (2 confirmed closes)
2.Volume increase on the break
3.A pullback that doesn't break above the lower line
💡 How to trade correctly:
· Wait for the pullback after the break
· Set stop-loss above the upper line
· If price breaks above upper line, volume must confirm or it's a false breakout
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XRP Price Hits $2.28 as Falling Wedge and Inverse H&S Patterns Align for $2.63 Target
XRP forms inverse H&S and falling wedge patterns, signaling a potential breakout toward $2.63.
Derivatives data shows $8.5M in long liquidations as volume rises and Open Interest drops 4.6%.
Golden cross on XRP’s MVRV and 200-day SMA may support bullish momentum before the SEC conference.
XRP is trading near a key technical convergence point again, with the price structure tightening within a narrowing range. Analysts tracking price behavior and derivative trends are pointing to a potential shift in momentum. XRP was priced at $2.28 at press time, and the setup may indicate a near-term breakout.
Technical Pattern Signals Recovery Potential
According to a chart analysis by BitGuru on X, XRP has formed an inverse head-and-shoulders pattern after falling from $2.45 to a low of $2.22. The price has now rebounded and is testing the neckline resistance, suggesting a potential trend reversal. A confirmed breakout above the neckline could establish $2.63 as the next target.
Source :BitGuru(X)
The falling wedge pattern on the 4-hour chart is also supporting the recovery case. This structure, defined by converging downward-sloping trendlines, points to waning sell pressure. Trading volume needs to increase alongside a break above the wedge’s upper boundary for the pattern to validate. If confirmed, XRP could see a 14% move toward $2.63.
Derivatives Data Show Mixed Sentiment
According to CoinGlass data, XRP’s Open Interest fell by 4.6% to $4.67 billion in the past 24 hours. Meanwhile, trading volume rose 50% to $4.45 billion, reflecting elevated short-term activity. The increase in volume alongside declining Open Interest signals profit-taking and long liquidations.
Liquidation data shows long positions worth $8.5 million were closed, compared to just $713,000 in shorts. This imbalance suggests that bulls are adjusting risk exposure. Analysts are now watching whether the narrowing wedge and reduced selling pressure will allow a clean breakout above $2.30.
Source :AliMartinez(X)
According to Ali Martinez, a golden cross on XRP’s MVRV ratio and 200-day SMA could also support upward momentum. With the SEC's June 5 conference nearing and market structure tightening, traders are preparing for heightened volatility.
The post XRP Price Hits $2.28 as Falling Wedge and Inverse H&S Patterns Align for $2.63 Target appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.