XRP Hits 45 Day High With 'Guppy' Momentum Indicator Pointing to More Gains Ahead: Technical Analysis

XRP's price rose to a high of $2.83 during the early U.S. hours Wednesday, hitting levels last seen on May 23, according to data CoinDesk data.

The move happened as the Guppy multiple moving average indicator, flashed a bullish signal. The ribbon indicator comprises six short-term exponential moving averages (EMAs) with periods ranging from three to 15 days showing short-term trend. It also includes six long-term EMAs with periods between 30 days and 60 days, representing long-term trend.

A bullish signal occurs when the six short-term averages cross above the long-term averages, as can be seen on XRP's daily chart below.

The bullish crossover of the Guppy averages indicates that the path of least resistance is now on the higher side, with potential for a rally to $2.649, the high registered on May 14.

Trade Setup: Breakout or Pullback Re-Entry (250 Words)

Here’s how I’m viewing the XRP setup as of today:

We’re looking at a classic channel breakout trade. The price is coiling just below resistance, supported by a strong structure, bullish EMAs, and volume slowly increasing. This gives us two potential strategies—either trade the breakout or buy the dip.

Option 1: Bullish Breakout Trade

• Entry: Break and 1-hour close above $2.3531

• Stop-loss: Below $2.30 (channel support + 50 EMA)

• Target 1: $2.38

• Target 2: $2.40+ if momentum holds

The 50 EMA continues to act as dynamic support, and RSI is climbing near 68, suggesting the trend still has gas left, even if a short pullback occurs.

Option 2: Dip Entry Play

If XRP rejects $2.35 with a clear bearish signal—like a shooting star, bearish engulfing, or long upper wick—then short-term traders could look to enter long on a retest of $2.30.

• Entry: Buy near $2.30 if support holds

• Stop-loss: Below $2.27

• Target 1: $2.35

• Target 2: $2.38

In my experience, these clean EMA-supported channels don’t need to be overtraded. Just wait for price to confirm, follow the trend, and manage risk.