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XRP: Coiled and Ready? A sleeping giant stirs above its 20-month EMA. This critical threshold is more than just a line; it’s the launchpad for the next explosive surge. Bulls are quietly amassing strength, patiently defending key levels. Keep your eyes glued; the breakout is brewing.
XRP Maintains Bullish Structure Above $1.75 Support
XRP’s chart: Still bullish? Crypto analysts at More Crypto Online see a familiar pattern emerging. While the price hasn’t made dramatic moves, it’s consolidating within a larger bullish structure. They point to continuing three-wave pullbacks, a sign that the uptrend is still in play. The key level to watch? $1.75. As long as XRP holds above that, the bulls remain in control.
As long as bulls fortify this critical line, the market’s architecture hints at a continued climb. These recurring three-wave dips suggest a market pausing for breath, not collapsing completely – a controlled calm before, potentially, another surge upward.
XRP’s bulls are knocking, but the door’s still locked. Between $2.69 and $2.84 lies a formidable barrier, a price ceiling stubbornly capping upward surges. Until XRP shatters this resistance, expect choppy waters and market-wide hesitation. The breakout is the key; without it, uncertainty reigns.
More Crypto Online suggests that shattering the $2.84 barrier with a five-wave surge could unleash a new wave of bullish momentum, paving the way for substantial gains. Keep an eye out for a potential rally towards $3.40, which could act as a launchpad for a daring assault on the $5.00 mark.
XRP’s 20-Month EMA Emerges As The Line Between Strength and Struggle
XRP’s bulls might still have a pulse! ChartNerd spots a critical long-term EMA – the 20-month – currently hovering around $1.94 and steadily ascending. Historically, this moving average has acted as a powerful compass, guiding XRP’s trend. Its upward climb hints that the larger bullish pattern might just be hanging on.
ChartNerd believes XRP could be gearing up for a major bull run if it can cement its 20-month EMA as a launchpad. A successful hold here wouldn’t just signal upward momentum; it would pave the way for XRP to blast through resistance levels in the coming days. The analyst’s bullish outlook hinges on this EMA becoming XRP’s new bedrock for growth.
ChartNerd, however, fired a warning flare: a plunge beneath the $1.94 EMA could rip the bullish sails, sending XRP into a deeper sea of retracement. Yet, the ship hasn’t fully set sail, he observed. XRP’s treasure voyage remains unmapped, demanding patience as traders scan the horizon for the true wind direction.
Featured image from Adobe Stock, chart from Tradingview.com
Thanks for reading XRP Holds The Line As Bulls Eye $340 — Can 20-Month EMA Power Next Breakout?
