XRP Retesting Key Breakout – Will It Make a Bounce Back?

Date: Fri, June 13, 2025 | 10:20 AM GMT

The  cryptocurrency  market has just experienced a brutal shake-up. Ethereum (ETH) took a sharper 8% hit, now hovering near $2,500, following mounting geopolitical tensions, as Israel reportedly launched large-scale airstrikes on Iran. Unsurprisingly, altcoins weren’t spared — and Xrp (XRP) is among the notable names facing a pullback.

XRP is currently down by more than 4%, trading at $3.13. But a closer look at the daily chart suggests that this decline might not necessarily spell doom. In fact, it might be part of a classic technical retest following a bullish breakout.

Source: Coinmarketcap

Retesting Falling Wedge Breakout

XRP had been consolidating within a falling wedge pattern since mid-May after a sharp 27% rally from $2.07 to $2.65. The wedge—a pattern typically viewed as a bullish reversal setup—finally saw a breakout on June 8, with price surging to a local high of $2.3379.

XRP 4H Chart/Coinsprobe (Source: Tradingview)

However, as market-wide weakness set in, XRP has pulled back to retest the former wedge resistance trendline. It’s now sitting near the $2.13 mark, just above a strong horizontal support zone at $2.08—a level that previously served as a launchpad for upward moves.

What’s Next for XRP

The current setup leaves XRP at a technical crossroads:

Bullish Scenario: If the $2.08 horizontal support and the retested wedge trendline hold, a bounce back toward the measured target of $2.80 remains in play. This level is derived from the wedge’s height at its widest point, projected from the breakout.

Bearish Breakdown: On the flip side, failure to hold $2.08 would invalidate the breakout, possibly opening the door to deeper corrections toward $2.00 or below.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always perform your own due diligence before making any investment decisions