XRP Holds $1.80 Support as Falling Wedge Pattern Narrows

2026-01-23 10:33:43

⬤ XRP’s consolidating after its earlier push higher, with price settling around $1.80—a zone that’s been holding as long-term support. The chart shows a falling wedge taking shape, with both resistance and support lines squeezing tighter as the market takes a breather.

⬤ Here’s what stands out: the wedge pattern’s textbook stuff—descending trendlines converging while XRP prints lower highs. Thing is, the selling pressure’s been fading near wedge support, and $1.80 hasn’t cracked. That level’s proving itself as structural defense, not just a temporary floor.

⬤ The chart projections suggest XRP’s gonna keep coiling inside this wedge before making its next move. Wedge resistance is clearly marked—that’s where traders’ll be watching to see if momentum shifts. Until then, we’re looking at corrective price action, basically digesting the earlier run-up.

⬤ Why this matters: when you get prolonged compression at major support, volatility usually follows. XRP keeping that $1.80 base intact means the bigger picture structure’s still solid. Lose that level though, and the technical story changes fast. With the wedge tightening, XRP’s next significant move could ripple across the broader crypto market.

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