Key Takeaways:
- XRP remains in a bullish cycle as long as prices hold above the $1.75 support level.
- Breaking above $2.33 and $2.65 could confirm a strong bullish continuation.
- Long-term projections suggest potential gains toward the $9–$10 range, provided critical supports are maintained.
XRP continues to attract attention in the cryptocurrency market, with analysts highlighting strong bullish signals despite recent price fluctuations. Currently trading at $1.98 with a 24-hour trading volume of $5.08 billion, XRP remains above key technical levels that suggest the uptrend could persist. Here’s what traders and investors should watch in the coming weeks.
XRP Holds Above Key Support in Bullish Channel
Renowned crypto analyst Egrag Crypto recently reaffirmed that XRP is still within a bullish cycle. The token remains above the upper edge of the Gaussian Channel, currently near $1.75. This positioning supports the continuation of XRP’s upward momentum, though a drop back into the channel could signal a short-term correction.
If XRP maintains its position above $1.75, the bullish narrative remains intact. However, a sharp dip below this level may indicate increased bearish pressure, potentially disrupting the current trend.
21 EMA and Resistance Levels Shape Market Sentiment
Another key technical indicator, the 21-day Exponential Moving Average (21 EMA), is providing important signals. A close below the 21 EMA could trigger bearish sentiment, while sustained trading above it—with full-body candle closes—would reinforce the bullish outlook.
Investors are also closely monitoring major resistance levels at $2.33 and $2.65. A confirmed breakout above $2.33 would suggest continued bullish consolidation, while surpassing $2.65 could ignite the next major rally for XRP.
Also Read: XRP Futures Hit $3.96B in 24 Hours as Bulls Target Breakout Above $2.14
Long-Term Targets: Elliott Wave Predicts $9–$10 Potential
According to Elliott Wave analysis, XRP could reach between $9 and $10 as Wave 5 unfolds, mirroring previous historical trends. However, achieving this long-term target depends on the token maintaining essential support levels and clearing critical resistance zones in the short term.
Ripple’s current market structure and technical indicators remain favorable. As long as XRP continues to trade above key levels and breaks through resistance, the token is well-positioned for further growth.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
