Wasteland had been trending down in price since March of 2014, and took a hit even further when it was confirmed in Eternal Masters. At that time the card dropped from about $50 to slightly sub-$40. The price is slightly above $40 right now, though what I find more interesting is the price graph for the Eternal Masters printing.
What we see here, is that the price briefly dropped to the low $30s and rebounded promptly, with the reprint currently sitting at $45. This could be explained in a few different ways.
Perhaps the demand for Wasteland at $35 is high enough that copies are bought out immediately causing the price to increase again. Given that the card is sought after for Cube, Command, and Legacy, this could definitely be the case.
Alternatively, the demand could be new rather than slumbering. Given that Wasteland is featured in several of the more affordable Legacy decks, perhaps Eternal Masters has succeeded in driving interest in Legacy after all.
One way or another, even with a reprint as a regular rare Wasteland looks to be maintaining a significant percentage of its value. Given that Force of Will from EMA is selling for more than the original printing was just before it was announced as a reprint, I'm inclined to believe that these values will be sticking.