XRP Price Prediction: XRP Breaks 100 EMA Support While Analysts Debate $8 Surge

After initially breaking above the EMA at $2.32 last week and gaining nearly 7%, XRP faced renewed selling pressure, leading to a 5.74% drop by Thursday. As of Friday, the token continued its decline, trading at around $2.23, reinforcing concerns about a deeper correction.

A failure to regain support at this level could push XRP toward its next major support zone at $1.96. Technical indicators also suggest growing bearish momentum, with the Relative Strength Index (RSI) dropping below its neutral 50 level, currently standing at 46. This weakening RSI signals increased selling pressure and a potential extension of the ongoing downtrend.

Despite the short-term weakness, some market pundits are optimistic about XRP’s long-term future. Crypto analyst Dark Defender recently forecast a potential run-up to $8, driven by increasing speculation of an XRP Exchange-Traded Fund (ETF) and Ripple’s Initial Public Offering (IPO). XRP is currently in a consolidation phase and could experience a breakout if overall market conditions are positive, the analyst says.

XRP price has broken the 100 EMA but is still holding the horizontal support at $2.20. Source: TradingView

“When you zoom out, you can see a clear bullish momentum,” Dark Defender noted, emphasizing the importance of XRP’s 3-month time frame chart, which indicates that movement to $5.85 and $8.07 is near-term imminent.

Growing anticipation of a possible Ripple IPO has also helped markets to be optimistic. Although there has been no word from Ripple executives, including CEO Brad Garlinghouse, analysts believe a public listing can be expected in the next 12 to 18 months. Meanwhile, an XRP ETF approval—now assigned an 85% likelihood by Polymarket—can also support a long-term bullish case for the token.

While some analysts are hopeful, others feel XRP is vulnerable to further declines. Crypto analyst CryptoBull has identified a symmetrical triangle pattern on the XRP daily chart, which could break either way. If the positive momentum is regained, XRP could rally up to $5.30, a 125% increase from current levels. Failure to breach resistance, however, could continue to keep the digital currency under selling pressure.

XRP’s consolidation signals resilience and a strong underlying structure, but a highly volatile market may lie ahead. Source: Prophecy_Trading on TradingView

Similarly, veteran chart technician Peter Brandt has seen a head-and-shoulders pattern in the price action of XRP, a typically bearish technical indication. XRP could fall as low as $1.07, he cautions, which represents some 55% fall from current levels.

Other market indicators present mixed signals. XRP futures open interest has risen from $2 billion to $4 billion since mid-March, reflecting high market participation. Additionally, trading volume in derivatives has increased by 24% to $5.35 billion. These figures indicate renewed interest in XRP, though whether this translates to a sustained rally remains uncertain.

As XRP remains at its 100-day EMA, investors and traders are still in doubt about what to do next. If XRP breaks above the broken support level, it could lay the foundation for a move higher towards $2.72. But if it fails to hold above key levels, it will experience prolonged losses towards $1.96 or worse.

XRP was trading at around $2.22, down 5.8% in the last 24 hours at press time. Source: XRP Liquid Index (XRPLX) via Brave New Coin

With events unfolding in the Ripple lawsuit, prospects of an XRP ETF, and rumors of a Ripple IPO, market players will be watching regulatory moves and institutional adoption patterns very closely. The next couple of weeks could be the tipping point in XRP’s price action, whether it continues to slide or tries to pull off a dramatic reversal towards its bull targets.