XRP Holds The Line As Bulls Eye $3.40 — Can 20-Month EMA Power Next Breakout?

XRP continues to defend key support levels as bullish momentum builds beneath the surface. Traders are watching closely as the price hovers above the rising 20-month EMA, a crucial line that could determine whether the next leg higher unfolds. XRP Maintains Bullish Structure Above $1.75 Support Providing an update on the XRP chart, More Crypto Online highlighted that the situation remains largely unchanged, with price action still developing within a broader bullish structure. The analyst emphasized that the ongoing movement continues to follow a pattern of three-wave pullbacks, suggesting that the uptrend remains intact as long as XRP holds above the critical $1.75 support level. According to his analysis, as long as buyers continue to defend this zone, the structure points toward an eventual continuation of the upward trend. The repeated three-wave corrections indicate that the market may still be in a controlled consolidation phase rather than a reversal. However, the analyst highlighted that a confirmed breakout has yet to occur. The key resistance zone between $2.69 and $2.84 continues to act as a ceiling, limiting XRP’s upward momentum. Until the price breaks above this range decisively, the broader market will likely remain in a phase of consolidation and uncertainty. More Crypto Online added that a five-wave breakout above the $2.84 level could signal renewed strength and open the door to higher targets. The next major objective in that case would be around $3.40, which could serve as a staging point for another push toward the $5 region. XRP’s 20-Month EMA Emerges As The Line Between Strength and Struggle In an XRP post, ChartNerd pointed out that the 20-month Exponential Moving Average (EMA) is positioned around $1.94 and is gradually climbing. This long-term moving average has historically served as a strong indicator of trend direction, and its current trajectory suggests that the broader bullish structure could still be intact. ChartNerd emphasized that turning the 20-month EMA into solid support would be a significant confirmation of continued upside momentum, paving the way for XRP to push toward higher resistance zones in the coming sessions. The analyst remains optimistic that the EMA will act as a reliable foundation for further gains. However, ChartNerd also cautioned that a decisive drop below the $1.94 EMA could weaken the bullish outlook, triggering a deeper retracement. Still, he noted that “the boat is yet to raise its sails,” implying that XRP’s next major move has yet to unfold, and patience may be key as traders await confirmation of the next trend direction.