The post Testing Key $2.20 EMA for Next Move appeared on BitcoinEthereumNews.com.

XRP is battling to reclaim its 50-day EMA at $2.198, with a breakout target up to $2.80. A $126M whale transaction could signal growing institutional interest and brewing volatility. Technical indicators like Bollinger Bands and MACD hint at an imminent strong move. XRP has started showing signs of momentum shift after a relatively stagnant trading session. Trading at $2.19, XRP posted a moderate 6% gain over the past week while claiming a daily high of $2.22 in the past 24 hours.  According to CoinMarketCap data, XRP is now trying hard to break above its 50-day Exponential Moving Average (EMA), which sits right around $2.198. This is a key technical spot that could signal XRP’s next big price direction. Nearby, the 20-day EMA around $2.13 is acting as immediate support for the price. Why Did $126 Million in XRP Move Off Bitstamp? Adding to the interest, a huge amount of XRP was recently moved off the Bitstamp exchange. Reports, citing crypto tracking service Whale Alert via X reported that 57,304,617 XRP, valued at approximately $126.79 million, was transferred from Bitstamp to an unknown wallet.  Moves this big always make traders wonder: is this accumulation by a major player, preparation for OTC deals, or simply an internal reshuffle? Regardless, such whale movements tend to precede notable price volatility. XRP Chart Pattern Hints at Potential Breakout From a technical standpoint, XRP is currently trading within a well-defined descending channel pattern, a setup typically considered bullish if the price breaks to the upside.  Analyst Alek pointed out that XRP has been consolidating between the crucial $1.95 to $2.08 support zone, making this area pivotal for the coming days. $XRP in been on the major support of $1.95 – $2.08 also travelling within the channel pattern or a bull flag pattern. A breakout will decide…

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Filed under: News - @ April 26, 2025 10:23 am