XRP is defending a critical support level near $1.40, with analyst ChardNerd forecasting a potential 30%-40% rally in the coming weeks. The cryptocurrency recently bounced from $1.43 after testing its 200-week EMA, currently at $1.41.
ChardNerd noted that XRP’s current price action mirrors its 2021 cycle, when it rebounded from the 200 EMA to rally toward the 20 and 50 EMAs-levels now aligned between $1.80 and $2.00. A sustained move above these could mark a critical inflection point.
The analyst emphasized that Bitcoin’s stability may influence the rally’s timing. If momentum holds, the upward move could extend into April or May, followed by a deeper correction toward $0.70.