- XRP is trading above $2.10 and the 21-week EMA.
- A close above $2.25 may confirm the bottom set on April 7.
- XRP’s failure to meet key levels could lead to renewed selling pressure.
XRP is trading above $2.10 and its 21-week exponential moving average (EMA), levels closely watched by traders.
But according to analyst Egrag Crypto, a weekly close above $2.25 may confirm a reversal from the April 7 low. If these conditions are not met, XRP may face renewed bearish volatility.
XRP Holds Key Support, But What Level Confirms a Bottom?
XRP is trading at $2.17, a 1.8% rise in the past day. The token has risen by 16.2% in the past week, reclaiming its 21-week EMA. This level has acted as resistance in recent months, making its reclaim a significant technical development.
Related: April 15 XRP Forecast: Analysis Focuses on $2.10 Support Holding Firm
Egrag’s analysis highlights this progress but stresses only a full-body weekly candle close above $2.10, the 21-week EMA, and especially $2.25 provides strong confirmation that the dip to $1.64 on April 7 marked the cycle bottom. Securing that close suggests XRP may avoid revisiting those lows any time soon.
What Happens if XRP Fails to Close Above $2.25 Weekly?
Meanwhile, Egrag warns that failure to close above all three key levels, $2.10, the EMA, and $2.25, could lead to further downside. In such a case, XRP could revisit support zones near $1.96 or even $1.58.
The chart also shows future resistance levels at $2.51 and $2.60, with longer-term targets reaching up to $3.30 if bullish momentum continues.
Furthermore, Egrag humorously noted that missing the close above $2.25 might revive negative narratives. He compared the potential volatility to the regulatory uncertainty seen in 2013, when China frequently shifted its stance on crypto mining.
Contrasting XRP Outlooks: Egrag’s Caution vs. Steph’s Rally Call
Notably, Egrag has previously predicted a dip for XRP before any surge. He warns of a possible short-term dip to as low as $1.40 before any major rebound. However, his long-term bullish sentiment suggests XRP could reach $7.50, $13, and $27.
Related: XRP Data Clash: Bearish $300M Outflows Battle Bullish ‘Golden Cross’
Complementing this view, analyst Steph pointed to a “Golden MACD Cross” on XRP’s chart, arguing a 486% rally could follow. He backs this bullish perspective with XRP’s historical performance, suggesting the trend is repeating. He expects a similar rally over the next four to five weeks.
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