XRP News Today: XRP Bulls Defend 21-Day EMA at $3.15 Amid Hopes for $11 Rally

XRP’s recent price action has drawn attention from technical analysts, with bulls defending the 21-day Exponential Moving Average (EMA) at $3.15 as a key support level. The cryptocurrency has formed long lower wicks on daily candles, signaling persistent buying interest despite declining trade volume. This stabilization has sparked discussions about potential bullish scenarios, including a measured move toward $11 and the possibility of a logarithmic overshoot to $22, according to a detailed analysis from Egrag Crypto [1].

The 21 EMA has become a critical psychological threshold for XRP. Price remains pinned above this level, with declining volume suggesting a temporary retreat by sellers. However, the absence of a definitive breakout above the EMA complicates near-term projections. Analysts emphasize that renewed volume momentum is essential for XRP to challenge the descending resistance trendline and validate a sustained uptrend [1].

Egrag Crypto’s analysis highlights the completion of an ABC corrective pattern, which followed a peak near $3.68 in Wave 3. The subsequent decline to $1.60 (Wave 4) appears to have resolved, with the market entering a consolidation phase above the 21 EMA. Traditional Elliott Wave theory now positions XRP for a potential Wave 5 rally, with price targets ranging between $4.00 and $4.50 depending on the projection anchor used [1].

The measured move model, adjusted for logarithmic growth, projects a stronger target of $11, based on patterns observed in March 2023. However, this forecast assumes the market replicates historical underperformance, which could trigger an overshoot to $22. Such volatility underscores the inherent unpredictability of crypto markets, particularly when technical indicators are applied to logarithmic structures [1].

Crucially, the success of these bullish scenarios hinges on volume reacceleration. While the 21 EMA remains intact, buyers must overcome the descending trendline in trade volume to confirm a breakout. Failure to do so could leave XRP vulnerable to renewed selling pressure, with the $1.60 support level—coinciding with the Wave 4 base—serving as a critical fallback [1].

The on-chain activity of XRP, including a recent $1.4 billion in inter-account transfers, aligns with broader utility-driven narratives. While this data suggests growing adoption, it remains decoupled from immediate price performance. Analysts caution that sustained volume without a corresponding price rise may indicate speculative positioning rather than intrinsic value accumulation [1].

For now, XRP’s technical outlook balances between consolidation and potential breakout. The 21 EMA acts as both a floor and a psychological battleground, with bulls needing to reclaim volume dominance to transform stabilization into momentum. Traders and investors will likely monitor the 50-day EMA as a secondary reference point for assessing longer-term trends, though this metric is not explicitly detailed in the current analysis [1].

Source:

[1] [XRP Bulls Defend Key EMA Zone as $11 Move Gains Momentum, Says Analyst](https://cryptofrontnews.com/xrp-bulls-defend-key-ema-zone-as-11-move-gains-momentum-says-analyst/)