According to analysis shared by EGRAG CRYPTO, XRP has just printed a bullish Hammer candle on the 2-week timeframe, with the candle body closing above the 100 EMA.
This is not being interpreted as a random bounce, but as a structured technical reaction at support.
The higher-timeframe context matters here. While the reaction is constructive, XRP remains inside a broader macro corrective structure, meaning confirmation has not yet been secured.
2-Week Hammer at Key Support
On the 2W timeframe, the Hammer formation signals that buyers stepped in aggressively after downside pressure. A bullish Hammer at support typically reflects absorption rather than continuation selling.
The additional detail that price closed above the 100 EMA strengthens the signal. In higher timeframes, reclaiming a major moving average often marks the beginning of a stabilization phase.
EGRAG identifies $2.20 as the next probability move if upside follow-through continues. That level represents the next structural test within the broader corrective pattern.
Confirmation Still Requires $2.40
Despite the constructive reaction, the macro picture remains incomplete.
The key confirmation level sits at $2.40 on a weekly closing basis. Until XRP secures a decisive weekly close above that threshold, the move is categorized as part of a larger corrective phase rather than a confirmed trend expansion.
According to the structure outlined, current volatility fits within what is described as Wave-4 behavior, a corrective swing rather than a breakout impulse.
Descending Broadening Wedge Still in Play
The broader structure remains defined by a Descending Broadening Wedge, which continues to hold.
Price is still searching for a confirmed macro bottom rather than actively breaking out of the formation. The wedge structure suggests expansion is possible, but only after confirmation conditions are met.
Conclusion
XRP has delivered a technically constructive response at support. However, the macro corrective phase remains active until key resistance is reclaimed.
For now, structure favors cautious optimism, with confirmation still required before declaring a broader trend shift.
