XRP: Sleeping or Skyrocketing?
$XRP is stuck
The next big move of XRP may be determined by this pivotal moment. The 100-day EMA is a key technical level that XRP is currently hovering around, indicating life after weeks of slow trading and difficulty gaining momentum. According to the chart, XRP has successfully broken through the upper limit of the descending wedge in which it had been stuck for several months.
Usually bullish, this pattern suggests a possible breakout. However, the 100 EMA level, a barrier that XRP has been fighting for days without winning, is a formidable obstacle to the cryptocurrency. The fact that volume levels are beginning to increase indicates that traders are getting ready for a more significant move. A wave of buying pressure could push XRP’s price sharply higher toward the next resistance zone, which is around $2.50, if it can maintain a breakout above the 100 EMA.
Conversely, if XRP is unable to overcome this level, it may revert to consolidation or even experience a corrective pullback with support levels at $2.18 and $2.00 reentering the market. Because of the RSI indicator’s current neutrality, XRP has ample opportunity to rise without encountering overbought conditions right away.
