Peter Smith
XRP has hit a crucial technical junction that could make or break its recent momentum. After rallying strongly, the cryptocurrency now faces a key test that will likely determine whether it pushes higher or slides deeper into correction mode.
XRP Price Analysis: Testing the 200 EMA Resistance
Trader @TheDustyBC points out that XRP is consolidating near the 200 EMA on the 4-hour chart—a level it's already tested once. The current structure suggests XRP may still be working through its higher timeframe correction wave (4), meaning the correction isn't over yet.
Trading around $3.01 currently, XRP could drop to the projected $2.75 target if selling pressure builds. This support zone will be crucial to watch.
The technical picture leans bearish despite recent positive news. If the 200 EMA continues acting as resistance, a move down to $2.75 becomes more probable.
That said, if buyers can flip this resistance level into support, XRP could invalidate the bearish outlook and spark a fresh rally. It all comes down to whether there's enough buying power to break through.
Conclusion: A Critical Moment for XRP
XRP stands at a crossroads. While sentiment remains relatively positive, the technicals favor more downside before any significant upward move. Traders should watch closely to see if XRP can hold above key moving averages or if a breakdown confirms the correction scenario.
Peter Smith
