XRP Technical Analysis Suggests Upward Trend Over Next Six Months

XRP has seen a recent price pullback to $2, but technical analysis by Egrag Crypto suggests the market remains favorable for further upside within the next three to six months.

  • The current market structure supports a continuation of the upward trend rather than a reversal.
  • XRP's breakout from a multi-year base around $0.5 last year marked a shift from accumulation to expansion.
  • The recent price action is viewed as consolidation, not distribution, indicating a pause rather than a top.

Chart Image from X

  • EMA analysis shows XRP maintaining a bullish bias, trading above its long-term exponential moving average, despite short-term weakness below the 9 EMA.
  • Fundamental developments, such as Ripple's conditional approval for a national trust bank charter, support longer-term appreciation.

XRP would need to record a sustained monthly close below the $1.80 to $1.60 region to turn bearish. The overall analysis concludes that XRP is more likely to move higher over the upcoming months, though volatility may occur.