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The XRP market is currently experiencing heightened attention due to significant chart patterns indicating strong bullish potential.
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Despite a recent price drop of nearly 40% from its three-month high, underlying technical support is suggesting a possible recovery phase.
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According to insights from COINOTAG, the upcoming Coinbase XRP futures launch might catalyze a renewed bullish sentiment in the market.
Analysis of XRP’s market movements highlights bullish chart patterns and a key upcoming futures launch that could reshape investor sentiment.
Coinbase XRP Futures Set to Launch, Expanding Market Opportunities
The impending launch of XRP futures contracts on the Coinbase Derivatives platform, scheduled for April 21, is a significant development for the cryptocurrency. This initiative is under the supervision of the US Commodity Futures Trading Commission (CFTC), which adds a layer of regulatory assurance for investors.
Such futures contracts are expected to facilitate increased liquidity and draw institutional interest, which could play a pivotal role in confirming the bullish technical breakouts that some analysts anticipate.
XRP’s Chart Shows Signs of a Wyckoff Reaccumulation Phase
Technical analysis indicates that XRP is currently in a reaccumulation phase consistent with the Wyckoff methodology. Analyst Charting Guy highlights this as a classic structure, often forming before the next major price movement up.
Phases A and B of the Wyckoff pattern began as XRP found support late in 2024. By early April 2025, the price action demonstrated a “Spring” followed by a successful “Test”, which suggests a potential exhaustion of selling pressure.
As the market anticipates the April 21 breakout, XRP is striving to surpass the descending trendline known as the “Creek”. Should this breakout occur, a “Jump Across The Creek” is possible, leading XRP into Phase D, where a projected rally towards $3.55 may materialize.
Falling Wedge Signals Potential for Further Bullish Action
The bullish forecast is further supported by the appearance of a falling wedge pattern, identified by chartist Jobcfx. This pattern has been consolidating since February 2025 and indicates a potential reversal in the trend.
A breakout above the wedge’s upper trendline, currently positioned in the $2.20 to $2.40 range, is positioned to trigger a new upward movement. Typically, falling wedge formations anticipate price targets equivalent to the formation’s maximum height.
If XRP successfully breaks through the $2.20 threshold, a target near $4.00 is projected, demonstrating alignment with the bullish breakout zone outlined in the Wyckoff reaccumulation pattern.
Additionally, the overall market sentiment could be influenced by similar patterns forming in Bitcoin (BTC). A breakout in Bitcoin may well act as a catalyst for renewed bullish momentum across the altcoin landscape, further amplifying XRP’s performance.
Conclusion
As XRP navigates through these pivotal technical developments, the upcoming futures launch and strong chart patterns indicate a potential bullish turnaround. Investors should remain alert to the unfolding scenarios that could significantly impact market dynamics. Should key resistance levels be breached, especially the $2.20 mark, XRP may be set for considerable upward movement, potentially reaching targets harbored by both Wyckoff analysis and the falling wedge formation.
