Ethereum Price Eyes 200-Day EMA Break While XRP Sparks Fresh Momentum

Ethereum is testing the 200-day EMA near $2,500, with signals indicating fragile bullish strength. If it falls, it might drop to near $2,000. Meanwhile, XRP has risen above its 26-day EMA, showing renewed buyer interest and aiming for resistance around the 200-day EMA. Both cryptocurrencies are poised for volatility as they hit significant technical levels.

Ethereum (ETH) is currently at a pivotal point as it approaches the 200-day exponential moving average (EMA) at around $2,500. The second-largest cryptocurrency recently slipped below both the 50- and 100-day EMAs; however, it has managed to recover some ground. Yet, trading volumes remain low, and the previously established June ascending-triangle setup has faltered. This is raising concerns about the strength of bullish sentiment. The relative strength index (RSI) is hovering in neutral territory, and any firm rejection at the 200-day EMA could lead to a drop toward the psychologically significant $2,000 mark, which would effectively erase a large chunk of the rally seen in April and May, reinforcing a bearish outlook.

On the flip side, a strong daily close above the 200-day EMA, particularly with robust volume support, could reignite bullish sentiment and possibly drive prices up to the $2,600–$2,800 range. Moving onto Ripple’s XRP, there’s been a notable technical breakthrough as it has surged past its 26-day EMA, now trading above the 26-, 50-, and 100-day EMA averages as well. This positive development follows several weeks of lacklustre performance and indicates a rise in buyer interest. The RSI has crossed above the 50 line, although it has not yet entered overbought territory.

Volume growth is also adding weight to this bullish scenario, especially as XRP now targets the resistance posed by the looming 200-day EMA. If buyers can sustain this upward momentum and defend the recent breakout, XRP might revisit the $2.28–$2.32 range, which had previously restrained its attempts. Nonetheless, should it fail to maintain its position above the 26-day EMA, there’s a risk of a pullback toward $2.00.

While Bitcoin continues to hold sway over market sentiment, both Ethereum and XRP are at critical junctures. The focus in the near term will be on how Ethereum responds to its long-term trend line and whether XRP can maintain its newly found momentum. As traders gear up for potential volatility, the performance of these assets could very well set the stage for the broader cryptocurrency market’s trajectory this summer.