Amid fluctuating trends in the cryptocurrency market, fresh analyses of XRP have emerged.
Experts assert that XRP possesses strong upward potential in its current cycle, with expectations of the price reaching double-digit levels. Technical analyses emphasize noteworthy indicators, especially pointing towards July, suggesting that price movements are supported by specific metrics. Investors are advised to closely monitor both technical signals and market structure.
XRP’s Cyclical Peak Points to July 21
Crypto analyst Egrag Crypto posits that XRP’s price could peak around July 21 within its market cycle. The analyst highlights the significance of the 21-week exponential moving average (EMA), noting its crucial role in price movements. According to Egrag, as the price progresses towards double digits, it appears to be nearing a cyclical peak.
Moreover, the analyst recalls that the recent reversal phase for XRP lasted 147 days, after which a peak was reached within 21 days. If this pattern repeats, July could represent a critical threshold for XRP. Nevertheless, there is also a consideration that the cyclical peak could be postponed until November 9, 2025, should the 110-day offset continue.
Technical indicators are providing signals that support this scenario. Particularly, mid-term averages and volume analyses indicate a sustained upward trend. However, the analyst emphasizes the necessity for investors to account for potential deviations.
Elliott Wave Analysis: Resistance Levels Become Clear
Another analyst, CasiTrades, shares technical analyses suggesting that XRP may exhibit volatile behavior in the short term. Yet, the analyst believes that regaining the 0.786 Fibonacci retracement level would establish significant support. This situation indicates that XRP might be preparing for a new upward wave.
CasiTrades notes that XRP’s sub-wave structures have aligned better with the larger Elliott wave count. This technical development is interpreted as a signal that previous downtrends have concluded and a new upward momentum has commenced. The analyst highlights the strong resistance zones at $2.70, $3.05, and $3.80, stating that surpassing these levels could trigger a sharp upward movement.
Based on wave structure analysis, it is anticipated that XRP could experience increased upward momentum in the medium term. However, it is crucial to recognize that volume support plays a critical role in such scenarios, and investors should consider liquidity levels when taking positions. Moreover, market psychology is expected to significantly affect pricing.
