XRP Trades Above $2.10, Bullish Trend Awaits Weekly Close

Prominent crypto analyst EGRAG Crypto recently shared a technical update on XRP, focusing on its position relative to the 21-week Exponential Moving Average (EMA). According to the analysis, XRP is currently trading above the 21-week EMA and the critical price point of $2.10. This positioning is significant as it suggests a potential bullish trend for the cryptocurrency.

EGRAG emphasized that for a macro bottom to be confirmed, XRP must close a full-bodied weekly candle above $2.10, the 21-week EMA, and particularly above $2.25. This confirmation would validate that the bottom was reached on April 7, as identified by the analyst. The importance of these levels cannot be overstated, as they serve as key indicators of market sentiment and potential future price movements.

The analyst's chart, published via TradingView, highlights several significant Fibonacci levels, with the 1.0 extension noted at $1.96282. XRP is currently trading above this threshold, with the weekly candle at approximately $2.15. The $2.10 marker, represented by a red horizontal dotted line, is crucial for bullish continuation. Additionally, the yellow 21-week EMA line has been closely tracked by the price in recent weeks, further emphasizing its importance.

EGRAG also provided historical context, comparing current market behavior to past volatility in the crypto space. He referenced events from 2013, when inconsistent regulatory stances, such as China’s alternating bans on crypto mining, caused abrupt shifts in market momentum. This historical perspective serves as a reminder that XRP’s momentum remains vulnerable if the necessary confirmation levels are not achieved. Failure to meet all three conditions—a weekly close above $2.10, above the 21 EMA, and $2.25—could lead to renewed destabilizing narratives.

The chart also marks additional price levels that EGRAG likely views as future targets should the bullish case play out. These include resistance areas at approximately $2.51 and $2.60, and Fibonacci extensions at 1.166 ($2.69993) and 1.272 ($3.30959). These levels indicate where XRP could find resistance if positive momentum continues. Conversely, lower support is at the 0.888 level ($1.58290) and the 0.786 retracement zone ($1.30128). These levels could act as price floors if the current structure fails to hold.

The sentiment shared in the post concluded with a motivational message to the XRP community, encouraging holders to “stay steady & strong,” a call to patience during a potentially pivotal technical juncture. The emphasis on closing the week above all key resistance lines indicates that the coming days are critical for determining the direction of XRP’s next move. As always, traders and investors are advised to conduct their due diligence, as technical patterns remain subject to rapid change in a market shaped by both price action and macro narratives.