Analyst Has a Message for XRP Holders: The Chart Disagrees

XRP continued to trade near a critical technical level this week as chart analyst Evan Clegg (@cleggzonehq) pointed to a tightening wedge structure that still favors upside continuation. His latest chart placed XRP at $1.33 while maintaining bullish targets at $1.60 and $1.94.

The setup arrives as traders continue to debate XRP’s next move after weeks of compressed price action. Volatility has narrowed across the daily chart, but the structure highlighted by Clegg remains intact above major support. In his post, Clegg said, “This is not a breakdown. This is compression before the next move.”

Good morning crypto world.

Everyone calling for a $XRP dump right now.

The chart disagrees.

$1.33 sitting right at the apex of a tightening wedge. RSI at 37 — historically a buy zone not a panic zone.

The yellow trajectory is still pointing up. $1.60 then $1.94.

$1.13… pic.twitter.com/dTN28Hln2K

— Evan Clegg (@cleggzonehq) May 23, 2026

XRP Tests the Apex of a Tightening Wedge

The chart shared by Clegg showed XRP trading directly near the apex of converging trendlines. Price action has continued to tighten since March, with higher lows forming against descending resistance.

According to the chart, XRP currently sits above a major support region near $1.29 while the larger structural support remains near $1.13. Clegg believes XRP is now building toward a breakout, and argues that traders calling for a deeper selloff are focusing on short-term price fluctuations rather than the broader structure.

The daily RSI also featured prominently in the analysis. XRP’s RSI sat near 37 at the time of the post. Clegg called it “historically a buy zone, not a panic zone.” The indicator remains above oversold territory, which often begins below 30. Traders usually monitor this range closely during consolidation periods because momentum can shift quickly once buying pressure returns.

The First Major Target

Clegg’s chart projected a move toward $1.60 as the first major resistance target if XRP breaks upward from the wedge formation. The chart also marked $1.94 as the next level above that zone. A highlighted resistance block between roughly $1.60 and $1.76 appeared on the chart. XRP would need to reclaim that area before challenging the higher target near $1.94.

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The analyst also included a projected breakout path that extended sharply upward after the asset exits the wedge. Price compression often precedes expansion phases. Traders usually watch for a decisive move once an asset’s price reaches the apex of formations, such as wedges or triangles.

Support Structure Still Holds

Despite recent weakness, XRP has continued to hold above the ascending support trendline shown on the chart. That level has supported price action multiple times during the past several months. Clegg identified $1.13 as the key structural support level below the current price. As long as XRP remains above that zone, the broader bullish formation stays active.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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