Steph Is Crypto, a market analyst and prominent social media commentator focusing on XRP, has challenged widespread bearish sentiment among XRP holders. In a recent commentary, Steph responded to investors who claim the latest price action is merely a bull trap, presenting his position that the market may have found its bottom.
Historical EMA ribbon signals
Steph’s analysis centers on the monthly chart of XRP, specifically the asset’s behavior around the exponential moving average (EMA) ribbons. In 2020, XRP touched the lower boundary of the EMA ribbons and went on to stage a significant bull run. This pattern repeated in 2022, as a touch of the same technical level preceded another major rally.
The pattern repeated once more in 2024, with XRP again interacting with the ribbon’s lower limit before a sharp price surge later that year. According to Steph, these instances have consistently marked the end of bear markets and the establishment of market bottoms for XRP. Currently, the asset has again bounced from the lower edge of the EMA ribbons, which Steph interprets as a potential signal that the lowest point of the current cycle has already occurred.
Each time XRP has rebounded from the lower boundary of its monthly EMA ribbons, the price established what became the bear market floor, supporting the view that a similar bottom may now be in place.
Mini dictionary: EMA ribbon – A series of exponential moving averages often used together on price charts to identify potential support and resistance zones.
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Steph also highlights the relevance of Fibonacci retracement levels on the daily chart. XRP is currently fluctuating near the 0.382 retracement level, after a strong upward move. He identifies a significant support area between $1.31 and $1.129, anchored by the 0.5 Fibonacci retracement level, a zone where XRP previously bounced in March and April.
Should XRP break below this support, Steph points to $1.20—aligned with the 0.618 Fibonacci level—as a potential downside target. The asset saw sharp price rebounds from that area earlier in the year. The EMA ribbons on the daily chart remain beneath the current price, which Steph views as confirmation of short-term bullish momentum.
| Fibonacci Level | Price Range | Recent Behavior |
|---|---|---|
| 0.382 | Current | Near-term holding level |
| 0.5 | $1.31–$1.129 | Support, bounced in March/April |
| 0.618 | $1.20 | Major bounce in February |
XRP is holding above key daily Fibonacci levels, with $1.20 as the lowest identified target if multiple supports fail to hold.
Retail sentiment and market opportunity
The analyst adds that search interest in XRP, which saw a surge alongside recent price moves, has rapidly declined back to near-term lows. Steph believes this reduced online attention indicates retail traders are stepping back from the market, suggesting that most investors remain offside from the asset’s possible next move.
Such subdued retail involvement, he argues, could mean there is room for significant price appreciation if broader participation returns.
Long-term perspective
Zooming out, Steph observes that overall search interest in XRP remains well below its levels from one year ago. Despite recent rallies, retail demand has yet to recover fully. Steph maintains that historical and technical signals from the EMA ribbons show XRP is following a familiar structure, repeating cycles from past bear market recoveries. He suggests that the market may already have established its bottom, setting the stage for a potential longer-term recovery.
