XRP may rebound to around $2 as it enters the final stage of a falling-wedge pattern that has extended for months.

On July 3, blockchain outlet The Crypto Basic reported that market analyst Crypto Michael said in a post on X, formerly Twitter, that XRP could break out of a price-convergence range that has continued since November 2024.

Crypto Michael said he is accumulating XRP at current levels. He sees the recent pullback as a buy-the-dip opportunity and judged that the structure formed on the weekly chart remains valid. XRP is down more than 70 percent from its July 2025 all-time high of $3.66, but he said XRP has not lost its appeal.

The key on the chart is the falling wedge. XRP began forming this pattern in November 2024 during a bull-market phase, and support formed around $2.10. After months of sideways trading, the upper trend line became clearer from July 2025 and the price range gradually narrowed. After the $3.66 peak, both highs and lows continued to fall, and the gap between the upper and lower resistance lines also narrowed.

Such convergence is typically interpreted as a precursor to expanding volatility. Crypto Michael also saw it as a zone where buyers and sellers are starting to find balance, and said a strong directional breakout could follow. He said he is buying XRP because the market is approaching a decisive move.

XRP last week tested the lower trend line of the falling wedge and confirmed support. Buying interest flowed in and a rebound began in early July, and it has recovered to around $1.15. Crypto Michael set $1.90 to $2.10 as the next target zone. That implies 79 to 98 percent upside from current levels, he calculated.

He said the zone matters more because it is not just a rebound target but a price band that previously served as support. XRP climbed to around $1.96 during the 2021 bull market, then rose to $3.39 in January 2025 after breaking higher in November 2024. It later returned to the $2 support area, built a base for several weeks, and then advanced further to an all-time high. Crypto Michael said it is important to reclaim $1.90 to $2.10, and judged that if the trend holds above it, a bigger upside path could open.

On-chain indicators were also cited as factors that raise expectations for a breakout. The number of newly activated addresses on the XRP Ledger rose to 6,000 a day, the highest in three months. The number of active addresses also increased 36 percent over two weeks, suggesting network use is picking up again.

The spread between whales and retail investors across exchanges widened 24.9 percent. That was presented as a sign that whales are moving XRP off exchanges faster than retail investors. The market is watching whether this on-chain trend continues, as it could provide the momentum needed for a falling-wedge breakout.

The article said the key inflection point is clear. It is whether XRP can go beyond a short-term rebound, reclaim the $1.90 to $2.10 zone, and then hold the trend above it. If the rebound and improving network indicators continue, the months-long convergence on the chart is more likely to end and the next direction is more likely to be determined.

"I've been accumulating XRP here. You're about to see why. pic.twitter.com/HYK5nHQPCC"