Saad Ullah
After weeks of going nowhere, XRP is finally making a move. But there's a catch - the 200EMA is still acting like a brick wall, and whether XRP breaks through or gets rejected here could set the tone for the next leg.
What the Chart Shows
Analyst DustyBC Crypto thinks the Elliott Wave correction might be done, which would be huge for bulls. The 8-hour timeframe is telling an interesting story. That Elliott Wave (E) pattern looks complete - price dipped below Wave (C) but snapped back fast, leaving just a wick. That quick recovery could mark the bottom of this correction phase. But here's the problem: the 200EMA is sitting right overhead, capping every rally attempt. Bulls need to punch through this level to prove they're serious. The safer play? Wait for a move above $3.12, which lines up with Wave (D). That's your confirmation zone with less risk of a fake-out. On the downside, $2.57-$2.60 is the line in the sand - lose that and the bears are back in control.
Why This Matters
XRP's been stuck in a descending channel for a while now, and breakouts from these patterns tend to be explosive. The problem is jumping in too early. If you're overleveraged before confirmation, one fake move can wipe you out. But if XRP does clear $3.12, the next target sits around $4 based on Elliott Wave projections. That's a meaningful upside if the setup plays out.
XRP is at a make-or-break point. The bullish signals are there, but they don't mean much until the 200EMA and $3.12 resistance get taken out. Smart money is waiting for confirmation above that level while keeping an eye on the $2.57 support zone. If both boxes get checked, we could see XRP make a real run toward $4 and shift market sentiment in a big way.
Saad Ullah
