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XRP Faces Bearish Setup as Riley Flags Rising Wedge Formation Risk - Blockonomi
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XRP Faces Bearish Setup as Riley Flags Rising Wedge Formation Risk - Blockonomi
TLDR Patrick L Riley warned XRP traders about a rising wedge pattern that may signal weakening momentum. XRP was trading at $3.07 when the warning was issued with macroeconomic conditions still favorable. The chart shows narrowing upward trendlines with volume compression indicating a possible breakout or breakdown. On-chain data revealed large holders bought nearly 900 million XRP and sold $1.9 billion worth within 48 hours. Former support lev…
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