HomeCryptocurrencyAnalyst Says This XRP Decision Could Dictate the Next Big Move

Analyst Says This XRP Decision Could Dictate the Next Big Move

XRP now sits at a technical level that could determine its next major move. Crypto analyst ChartNerd says XRP remains compressed between the 20-week and 50-week exponential moving averages (EMAs), with the 50-week EMA acting as resistance and the 20-week EMA providing support.

His latest analysis explains why traders need to watch both levels closely as XRP approaches another test of the 50-week EMA.

XRP Tests the 50-Week EMA Again

ChartNerd said XRP remains below its 50-week EMA while holding above its 20-week EMA. He described this setup as a critical decision zone because XRP has moved between the two averages without establishing a decisive direction.

According to ChartNerd’s tweet, the 50-week EMA currently sits around $1.52 and represents a major resistance level for the current trend. XRP previously dropped from the $1.30-$1.50 range and eventually swept below $1. After reaching a local low around $0.98, XRP climbed sharply to hit $1.70.

However, XRP continued to close below the 50-week EMA during that move. The cryptocurrency then entered a three- to four-week correction and moved back toward the 20-week EMA. ChartNerd said XRP found support around $1.25 before closing near $1.40 and moving toward the 50-week EMA again.

$1.80 Remains Important for the Bullish Thesis

ChartNerd said XRP could strengthen its short-term bullish setup if it records a weekly close above the 50-week EMA. He also identified $1.80 as an important level because XRP has not yet returned to retest the previous support base around that price after losing it.

In his view, XRP could strengthen the case for the $0.98 low as a significant bottom if it breaks above the 50-week EMA and moves toward $1.80. He said such a move could eventually lead to another retracement before XRP attempts a larger breakout.

However, ChartNerd also stressed that a break above the 50-week EMA would not guarantee that XRP had established a lasting bottom. He pointed to previous XRP cycles in which the price moved above the 50-week EMA before later falling to new local lows.

Losing $1.31 Could Change the Setup

ChartNerd said XRP could face a deeper retracement if it fails to break the 50-week EMA and then loses the 20-week EMA. He placed the current 20-week support floor around $1.31 and said a break below that level could send XRP back toward $0.98.

He also noted that XRP remains below the 50-week EMA, keeping another move below the previous low within his analysis. ChartNerd stressed that XRP traders should consider both outcomes rather than assume XRP will continue higher.

ChartNerd Maintains His Midterm DCA Strategy

ChartNerd also discussed his dollar-cost averaging strategy for the second half of midterm years. He said historical XRP cycles have rewarded accumulation during this period. He acknowledged that the pattern has exceptions and that no indicator works perfectly.

He also identified the 20-month EMA, which he placed around $1.56, as another important level. XRP would need to reclaim both the weekly 50-week EMA and the monthly 20-month EMA to strengthen the case for a move toward $1.80.

For now, ChartNerd said XRP remains compressed between two important weekly moving averages. He said traders should watch for either a break above the 50-week EMA or a loss of the 20-week EMA, as either move would provide the confirmation he is waiting for.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over seven years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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