A major $XRP breakout may be approaching after a difficult first half of the year, during which the token lost 27.1% in Q1 and another 22.4% in the second. Technical charts and seasonal data have now produced a rare alignment for the breakout to happen.
On the daily TradingView chart, $XRP is trapped inside a descending broadening wedge, a pattern considered a classic late-stage accumulation formation. The exhaustion of selling pressure is also confirmed by the RSI indicator, which has formed a bullish divergence, while buyers continue to defend the local bottom at $1.05.
Historical data from CryptoRank confirms that Q3 has traditionally been the most stable period of the year for $XRP. Over the past seven years, Q3 has not closed in negative territory once.
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