• XRP creates a falling wedge formation, a bullish technical formation often seen before a big rally.
•  Apple is said to acquire $1.5 billion in XRP, the largest corporate crypto deal since Tesla’s bitcoin purchase in 2021.
•  A key point of resistance at $3.13 could trigger a breakout and accelerate upward movement.

Ripple’s native token, XRP, is showing a potential for a surge in its value as the market is picking up steam with BTC’s upsurge. The XRP is currently moving inside a falling wedge pattern, which hints at a strong bullish reversal ahead.

At the time of writing, XRP is trading at $3.00 with a 24-hour trading volume of $4.75 billion and a market capitalization of $179.37 billion. The XRP price over the last 24 hours is showing stability, but over the last week it is up by 5.27%.

Source: CoinMarketCap

Also Read: XRP Faces Throwback Test as Market Eyes $3.40 Signal

XRP Eyes Mainstream Adoption With Apple Rumors

According to the crypto analysis, LohnSquire, Apple is rumored to acquire Ripple’s virtual currency XRP for $1.5 billion. If true, it’d be a record corporate crypto deal since Tesla’s 2021 Bitcoin purchase. 

Because XRP is made for real-time, low-cost cross-border payments, the acquisition may have something to do with Apple’s broader payments strategy in Apple Wallet and Apple Pay, implying a larger move in virtual currency.

Such a move would not only increase XRP’s liquidity but also mark a historic change in mainstream corporate sentiment towards crypto. A probable entry from Apple could prove a watershed moment, revealing that digital assets are entering mainstream infrastructure.

XRP Price Eyes Breakout With $3.13 Key Level

A prominent crypto analyst, EGRAG CRYPTO, highlighted that XRP traders are watching the charts closely as the token nears a potential breakout from a downtrending falling wedge formation, a technical pattern generally indicating a subsequent rally.

Current market attention in the case is centered on the $3.13 resistance level. If buyers are able to overcome the structural barrier, XRP could start a fresh leg higher and a more durable rally.

Source: X

The setup has caused optimism in the broader XRP ecosystem. A downtrending falling wedge formation typically indicates a period of consolidation before the bulls regain control, and XRP token holders are getting ready for what could turn out to be a historic event. 

A ceiling breakout not only can produce higher short-term activity but also can revitalize market optimism, setting up additional appreciation.

Social sentiment in particular is very high, with the XRPFamily calling for unity and patience in difficult times. Community sentiment’s old familiar refrain is to stay steady, stay strong, and come out together. That kind of resilience is a hallmark of the XRP ecosystem, and it’s done a lot to preserve optimism in the difficult times.

Also Read: XRP Targets $4.00 Amid Bank of America Ledger Integration Update