XRP Now Trading Within a Similar Wedge That Lifted Prices to $1.96 and $3.66

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XRP is currently trading within a falling wedge that has appeared only twice in its history, with each previous occurrence leading to a subsequent price surge.

This comes as the asset continues to face downward pressure alongside the rest of the crypto market. This year, XRP has collapsed 43.8%, currently trading for $1.03, as bears look to breach below the psychological $1 mark. 

Since October 2025, when this downtrend began, XRP has recorded only two monthly gains, each just above 2%. Within this period, XRP has witnessed eight monthly losing candlesticks.

However, the falling wedge structure suggests that the downtrend may now be close to an end, and XRP could secure a bullish recovery if it follows its historical pattern.

XRP Historical Price Action Within the Falling Wedge

For context, the first falling wedge started playing out when XRP dropped from the $3.31 peak in January 2018. From here, XRP witnessed a steep decline, losing most of the earlier gains and dumping below the $1 mark.

Within the falling wedge, the price action resolved into an xyz corrective wave before a breakout ensued. Specifically, the x Wave involved the price crash from $3.31 in January 2018 to a low of $0.2451 by August 2018, retesting the lower trendline of the wedge.

After this, Wave y brought a relief bounce to $0.50 by June 2019, but this high aligned with the resistance at the upper trendline of the wedge, leading to another pullback. This pullback pushed XRP to the $0.11 low by March 2020, again aligning with the support at the lower trendline and culminating in the final z Wave.

Following this xyz structure, XRP broke above the upper trendline of the wedge and eventually soared to a high of $1.96 in April 2021. However, the asset could not exceed the $3.31 peak due to increased selling pressure from the SEC vs. Ripple case, which began in December 2020.

Notably, from the $1.96 high in 2021, XRP collapsed and entered another falling wedge structure. After finishing the xyz corrective wave at $0.33 by January 2023, XRP broke above the wedge and eventually claimed the $3.66 all-time high in July 2025.

XRP Slips Into the Third Wedge

The drop from $3.66 has now resulted in the third bullish wedge, as XRP continues to suffer steep declines in the ongoing market-wide downtrend. 

So far, XRP has only completed Waves x and y of the corrective structure, with the current pullback attempting to finalize the pattern. Notably, Wave x involved XRP’s decline from $3.66 to $1.37 in October 2025. Meanwhile, Wave y triggered a recovery from $1.37 to $2.41 by January 2026.

Now, Wave z has led to a corrective phase from the $2.41 high to the current price of $1.03. However, data shows XRP may still record steeper declines, possibly dropping toward the $0.80 to $0.90 range before Wave z officially ends. 

Once this happens, the ensuing rebound push could take XRP above the upper trendline of the wedge, leading to a breakout. This would mark the end of the downtrend, with XRP possibly soaring to a new all-time high once market momentum returns.

However, it is important to note that, while a recovery to new highs is feasible, the timeline remains uncertain. For instance, after the breakout above the second wedge, XRP took over two years to reach a new all-time high.