XRP Primed for Breakout? Analyst Says Panic Sellers Are Ignoring the Bigger Setup
Panic is going through the roof in the crypto market, with some traders calling for a sharp XRP breakdown. But analyst Evan Clegg sees the opposite playing out on the charts.
Instead of a collapse, XRP appears to be coiling inside a classic tightening wedge, a compression phase that often precedes a decisive move.
Trading at $1.36 per CoinCodex data, price action is pressing above the apex of a tightening wedge at the $1.33 region, where volatility has steadily contracted over recent weeks.
Clegg notes that this kind of structure typically reflects a market in balance since buyers and sellers are locked in a narrowing range, with pressure building beneath the surface.
More notably, the closer the price gets to the tip of the wedge, the more likely the market is preparing for expansion rather than continuation of sideways drift.
Importantly, the broader structure has held firm despite rising bearish sentiment on social media. In Clegg’s view, much of the current fear is driven by short-term volatility rather than any meaningful technical breakdown.
What is Happening Behind the XRP Scenes?
Momentum indicators are also leaning toward stabilization rather than collapse. XRP’s Relative Strength Index (RSI) is sitting near 37, a level historically associated more with accumulation phases than sustained downtrends, where selling pressure often begins to fade and longer-term buyers quietly re-enter.
If the structure resolves upward, Clegg’s roadmap points first to $1.60, with a further extension toward $1.94 if momentum accelerates. A move through these levels would reinforce the idea that the recent pullback is part of a larger bullish continuation rather than a trend reversal.
On the downside, the key invalidation zone remains around $1.13. A decisive break below this level would significantly weaken the current structure. Until then, the sideways movement may simply represent consolidation within an intact trend rather than early signs of distribution.
Supporting the bullish case, recent on-chain signals show increased activity whereby whale wallets reportedly accumulated over 71 million XRP in the past week, while more than 4,300 new addresses were created within 24 hours.
Furthermore, large withdrawals from Binance are in overdrive mood and have fueled speculation that bigger players may be repositioning ahead of a potential move.
What can be deduced from the current scenario? Well, XRP remains caught between fear and anticipation. But Clegg’s view is that the chart is less about panic, and more about pressure building for the next decisive shift.
