Technical analysis suggests a significant bullish move for XRP, as the cryptocurrency displays a clear falling wedge pattern on its weekly chart. This pattern, historically reliable in leading to explosive breakouts, signals a potential surge from its current price of around $2.00. After reaching highs above $3.50, XRP entered a corrective phase characterized by declining volume and lower highs. Now, the price is nearing its apex within this wedge formation, suggesting an imminent breakthrough. 700% rallies are possible if history repeats, similar to a breakout in July 2024 when XRP surged from around $0.33 to $2.70. This bullish setup aligns with strong momentum oscillator readings that have bottomed out near historical lows and are now showing upward movement, signaling an end to oversold conditions and a return of bullish strength. The price is tightening in this falling wedge formation before a potential breakout, which usually precedes powerful rallies. If accompanied by increased trading volume above the $3.50 resistance level, a breakout confirmation could occur soon.