XRP continues to trade below its key monthly 20 exponential moving average (EMA), a level that chart analyst ChartNerd described as pivotal earlier this year. While the 20-month EMA now stand
XRP continues to trade below its key monthly 20 exponential moving average (EMA), a level that chart analyst ChartNerd described as pivotal earlier this year. While the 20-month EMA now stands near $1.54, XRP is trading around $1.04, marking a pronounced decline from the start of the year.
In January, ChartNerd emphasized that XRP needed to close the month above $1.91, the monthly 20 EMA at the time. Historically, monthly closes below this indicator have suggested further downside during macro uptrends.
XRP failed to achieve that close, leading to intensified selling pressure and pushing prices sharply lower. The asset has since remained under the 20-month EMA, which continues to act as a central technical barrier for the market.
Never ignore the 20 month EMA. Whether breaking above or below, this level often shapes the next trend.
Current charts indicate the 20-month EMA is still positioned well above XRP’s price, highlighting its ongoing significance for traders and market observers.
XRP’s decline accelerated in June, with a sharp move downward concentrated in the early part of the month. This additional selling drove XRP towards $1.04, where the price has since stabilized in a narrow trading range. Several recent monthly candles reflect this period of compression as XRP consolidates near current levels.
Simultaneously, the 20-month EMA has continued trending lower, further increasing the distance between the average and current price.
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To signal a meaningful recovery, XRP would need to post a monthly close above the 20-month EMA, now set at approximately $1.54. This would mark a key structural shift after an extended period below the indicator.
Until such a move occurs, technical traders are fixated on the gap between XRP’s current price and the 20-month EMA. Several analysts anticipate the possibility of further declines before the trend reverses, while others watch for signs of regained momentum if the indicator is reclaimed.
XRP has maintained support above $1 for over 600 days, but momentum must build soon for the uptrend to remain intact.
A confirmed monthly close above the EMA would reinforce XRP’s price structure and could shift sentiment decisively. For now, the 20-month average remains the most closely monitored level on the chart as the market awaits a potential catalyst for the next major move.
The post XRP trades at $1.04, sits 45% below monthly 20 EMA after technical warning appeared first on COINTURK NEWS.
