XRP (XRP) is showing signs of a potential short-term breakout toward $1.50 as a bullish falling wedge converges with a large concentration of leveraged short positions above its current price.
XRP Falling Wedge Points to $1.50
XRP is consolidating inside a falling wedge on its four-hour chart after its sharp August rally.
The pattern has developed since XRP peaked near $1.58 on Aug. 22, with the price forming lower highs and lower lows between two converging descending trendlines.
Falling wedges are generally considered bullish reversal or continuation patterns. They typically confirm when the price breaks decisively above the upper trendline.
As of Aug. 31, XRP was trading near $1.38, while the wedge’s upper resistance sat around the $1.40 area. The level also overlaps with XRP’s short-term exponential moving averages, making it an important breakout barrier.
A convincing move above $1.40 could open the path toward approximately $1.50-$1.52, representing roughly 9%-10% upside from current levels.
However, the bullish setup would weaken if XRP breaks below the wedge’s lower trendline near $1.33. The 100-period EMA, currently around $1.32, would then become the next key support.
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See all Ripple forecastsXRP Short Liquidations Create a $1.48 Magnet Zone
XRP’s Binance liquidation heatmap on CoinGlass reinforces the technical upside target by showing substantially more leveraged liquidity sitting above the current price.
The closest major “magnet zone” is around $1.482, almost directly overlapping with the falling wedge’s $1.50-$1.52 target area.
About $6.28 million in short-liquidation leverage is concentrated around $1.482. Cumulative short liquidations could reach approximately $58.44 million if XRP climbs to that level.
Liquidation zones are price areas where leveraged traders can be forcibly closed out. Large clusters can sometimes attract price because they represent substantial pools of available liquidity.
The imbalance becomes even larger at higher prices.
A rally toward $1.60 could expose roughly $116.42 million in cumulative short liquidations. In comparison, a decline toward $1.29 would put approximately $32.31 million in cumulative long liquidations at risk.
That leaves roughly 3.6 times more liquidation liquidity at $1.60 than at $1.29.
Thus, the falling wedge and the liquidation imbalance put the $1.48-$1.52 region in focus as XRP’s next potential upside target, provided the token can first break decisively above $1.40.
