BULLISH 📈 : XRP prints falling wedge that preceded 2024 rally, signals potential breakout
Blacksea spots a bullish setup on XRP. Celal Kucuker agrees on upside, but flags a dip first.
On June 6, analyst Blacksea said XRP has printed the same falling wedge seen earlier in 2024 on X. That pattern preceded a move from roughly $0.50 to above $1.5, with claims of a 600% upside during the run-up via Bitcoinist and NewsBTC.
Price action then showed a brief false breakdown below the wedge, which flipped momentum and ignited the rally via Bitcoinist. Blacksea says XRP is again compressing inside a wedge with repeated declines, echoing that setup via NewsBTC. A breakdown, if it comes, could be the final shakeout before a reversal, similar to 2024 via NewsBTC.
The analyst expects this to fuel a fresh recovery and attempts at new highs, while warning to manage risk if the pattern fails via Bitcoinist.
Celal Kucuker shares a similar bullish path but after a deeper pullback. He points to a Cup & Handle forming and targets the 1.618 Fib extension above $14 on X and via NewsBTC.
He warns the downtrend may extend first, eyeing a drop toward $0.9; further weakness could invalidate the structure and open $0.48 via NewsBTC and Bitcoinist.
If $0.95 holds and rebounds, his map shows $1.5, then $3.66 (about 282% from $0.95), and finally ~$14.1 (about 1,378% from $0.95) on X.
- Pattern setup: Falling wedge repeat, possible false breakdown before reversal source.
- Bullish path: Recovery and attempts at new highs if pattern plays out source.
- Risk path: Dip toward $0.9, invalidation near $0.48 before any rally source, source.
- Upside targets: $1.5, $3.66, then ~$14.1 if supports hold source.
Headline: Blacksea flags XRP falling wedge; Kucuker eyes $14 after potential drop to $0.9