XRP Consolidation Ahead? Market Watches $2.60 Close for Bullish Confirmation
- XRP trades near $2.20 as the market works through a cooling phase after a failed breakout.
- Critical supports sit between $2.02–$1.97, with deeper protection around $1.75 if sellers increase pressure.
- A monthly close above $2.60 or $3.40 would mark major bullish continuation levels highlighted by market watcher EGRAG Crypto.
XRP is moving through a decisive phase on the monthly chart, trading around $2.20 after failing to hold its recent breakout zone.
Market participants encountered substantial price fluctuations throughout this month because buyers worked to sustain their price gains while sellers fought to drive costs down to crucial support levels.
The extended price drop has not affected XRP because it maintains its position above all significant long-term indicators, which confirms the continuing upward market trajectory.
EGRAG Crypto provided specific technical indicators that most traders now use as reference points. The analyst explained that an XRP monthly close past $2.60 would lift the price above Fib 0.5 and keep the market direction positive.
The asset would experience solid upward momentum through the Fib 0.888 barrier if the price closes above $3.40. The analyst determined that the 21-EMA breach would create a high-risk scenario for the chart.
Also Read: XRP Consolidation Mirrors 2017 Bull Run, Potential 263% Gain
XRP’s Strong Multi-Layered EMA Support Structure
XRP’s long-term structure remains firm, supported by major exponential moving averages. The 20-EMA sits at $1.93, the 50-EMA at $1.29, and the 200-EMA at $0.86, building a strong multi-layered foundation.
XRP maintains its position in the upper band area, according to the Bollinger Bands indicator. The market shows strong momentum, but the upper band rejection indicates declining buying pressure, which often results in price consolidation.
The Ichimoku Cloud adds more clarity. The market has identified support between $2.02 and $1.97, which serves as the initial protective barrier. The cloud support level at $1.75 serves as the main support area because it will become the critical level if sellers manage to push the price down further.
Indicators Suggest Consolidation Phase Ahead
Momentum data analysis shows contradictory results in the current situation. The monthly RSI is at 57, down from the earlier high near 67.
The indicator shows that the power is decreasing, but it has not reached the point where it would indicate a bearish market. It will show signs of recovery if it reaches above 60.
The MACD line stays above the signal line, which indicates that the long-term trend remains positive, but the declining histogram reveals that the upward momentum has decreased.
Another important reading comes from the BBTrend indicator, currently at -21. The current data shows that bullish dominance has decreased from earlier periods, which supports the theory that XRP is stabilizing in a consolidation phase unless there is a significant buying surge.
