XRP is back above, $ 2, and the bullish momentum gradually crawls compared to its price action at the end of March and early April. The Crypto Egrag Crypto analyst thinks that this week could highlight a turning point for a full flip in the bullish momentum, and how the XRP price ends the week will be very important.
Depending on the analyst’s prospects, which was published on the X-social media platform, the current XRP candle on the weekly deadline hangs just above $ 2.10 and the 21-week exponential mobile average (EMA). However, he noted that real confirmation lies in if XRP could be able to close the week with a full -bodied candle greater than $ 2.25.
Why are $ 2.25 important for the price of XRP?
The level of $ 2.25 has now become more than just short -term resistance. This is what Egrag considers the final barrier to the validation of the recovery structure after the retracement of March and April. Its weekly graph shows that XRP escapes from a significant hollow after rebounding on the level of FIB extension of 0.888 and now stabilizing above the 21-week yellow EMA line.
The alignment of the price of XRP higher than the price of $ 2.10 and this mobile average adds credibility to the potential for optimistic continuation, but Egrag clearly indicates that a weekly fence greater than $ 2.25 is the “locked” point. From a technical point of view, this would mark the first weekly candle full-bodied above the EMA 21W for the past four weeks. If it is reached, this can be interpreted confirmation that the bulls have resumed domination and that a background was established on April 7.
In addition, this suggests that the bottom of April 7 will continue to keep as support for the future. The graph also describes narrow price targets at $ 2.51 and $ 2.60, with Fibonacci extension levels projecting even higher zones to $ 2.69 on the way to $ 3.
Do not close above $ 2.25 could reintroduce unwanted stories
Egrag also published a warning note in the event of a clean helmet. If XRP did not close the weekly candle above $ 2.25, he warned that he could trigger a return of the lowering stories, including what he described as a possible “price problem”. This refers to the recent tariff in the United States between the United States and China in the last month, which has unbalanced the investment markets.
A strong rejection could see the XRP price translated into the fibonacci level of $ 1.96 or even more in the larger support strip of $ 1.58 to $ 1.30. The white box region on the above graph would then become the main battlefield for bulls and bears if a fence greater than $ 2.25 is not secure by the end of the week.
