Analyst EGRAG says only a weekly close above a certain level would flip XRP’s long-running descending channel bullish.
XRP is attempting to push above the 200 EMA and the $1.55 level, a move that market analyst EGRAG CRYPTO says would signal short-term strength if confirmed with a weekly close.
Despite the attempted rally, the token remains trapped inside a descending channel that has defined its price action for months, leaving the broader trend corrective until a breakout above $2.20 flips the structure bullish.
XRP Tests 200 EMA
In a post published on X on March 4, EGRAG CRYPTO said XRP is “pushing above 200 EMA” but warned that the price is still trading inside a descending channel on the weekly timeframe.
According to their breakdown, a weekly close above $1.55 would weaken the current downward trajectory, while a close above $2.20 would invalidate the bearish structure and open the path toward $2.70 to $3.60.
If XRP fails to reclaim $1.55, the analyst outlined a move toward $1.26, with a possible sweep of macro support between $0.95 and $0.85. In a separate post, they assigned a 55% to 65% probability to a deeper sweep and a 35% to 45% chance of an early breakout reclaim.
“Structure > Emotion,” they wrote, arguing that the descending channel still defines the trend. The technical standoff comes at a time when derivatives and spot activity are contracting. Analyst Amr Taha previously noted that XRP futures open interest had dropped 70% since October 2025, falling to $203 million.
Binance open interest slipped below $270 million, levels last seen in April 2025 before a major rally. Historically, such resets have coincided with local bottoms as leverage is cleared out, though they do not guarantee a rebound.
You may also like:
Price Action Reflects Fragile Recovery
At the time of writing, data from CoinGecko showed that XRP had gained about 4% in the last 24 hours and roughly 3% over the past week, bouncing from a recent low near $1.27.
Even so, the token remains down more than 12% over 30 days and about 40% across the past year. Furthermore, it is still more than 61% below its July 2025 all-time high of $3.65.
The recent rebound has occurred within a 24-hour range between $1.34 and $1.42, with market capitalization holding near $86 billion.
For now, the weekly close relative to $1.55 is the immediate focus. A decisive break above $2.20 would alter the chart structure described by EGRAG, while rejection below the 200 EMA will keep the descending channel intact and leave lower supports in play.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
The content published on Finance Insider Today is for informational and educational purposes only. It does not constitute financial advice, investment advice, or any other form of professional advice. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. Finance Insider Today is not responsible for any financial losses resulting from decisions made based on information published on this website. Past performance is not indicative of future results. Financial markets carry significant risk. Never invest more than you can afford to lose.
