XRP has declined 11.6% since May 14 amid broader altcoin market weakness. Analysts are monitoring a descending broadening wedge pattern on its charts, with trader EGRAG Crypto stating the token must break above $3 to confirm strength. The analyst projected a potential range of $7 to $11 following a confirmed breakout, while a failure to hold the $1.11 support level could lead to a decline to $0.32.
XRP has faced renewed pressure, falling 11.6% since mid-May alongside broader altcoin weakness. Analysts are closely watching its price action within a volatile descending broadening wedge pattern.
The pattern has seen XRP make lower lows at $1.61, $1.37, and $1.11 from April 2025 to February 2026. These tests placed the token at a critical technical juncture according to market observers.
Technical analysts state that for bullish momentum to build, XRP must first break above the wedge’s upper trendline. EGRAG Crypto identified a key resistance level of $3 as the necessary confirmation point for renewed strength.
Regarding a potential breakout, the analyst suggested there is a 53% probability XRP could eventually move toward the $7 to $11 range. This projection remains conditional on the token first reclaiming key resistance levels.
Conversely, the $1.11 level is now considered critical support for the altcoin. A breakdown below this support could potentially lead to a decline toward $0.32 based on the technical structure.
