XRP has recently broken out of an 'Adam and Eve' pattern and moved above the $1.5 resistance line.

On March 19, local time, The Crypto Basic, a blockchain media outlet, reported that XRP is rising after posting its highest daily close in 30 days. That suggests buying has returned to the market, but it said XRP must break above three key exponential moving averages (EMAs) to shift into a full-fledged uptrend.

Market analyst Chart Nerd said the short-term target could be $1.8 if XRP secures $1.5 as support and maintains upward momentum. The 'Adam and Eve' pattern consists of two recovery structures: a V-shaped rebound after a sharp drop (Adam) and the formation of a gradual bottom (Eve). XRP has held its gains after completing the pattern.

XRP fell from $1.54 in early last month to a low of $1.33 on Feb. 12. The Adam structure formed when it recovered to around $1.5 on Feb. 15. XRP then held about $1.33 from late February to early March, forming the Eve structure, before gradually rising and breaking above $1.5 on March 16. Chart Nerd noted that despite a recent decline, XRP has continued to hold the neckline after the breakout.

If XRP fails to hold $1.5, the next support level is around $1.42, where the rising trendline is located. Chart Nerd said the U.S. Securities and Exchange Commission's recent classification of XRP as a digital commodity supports a short-term rise.

To extend its gains, XRP must break above the 10 EMA at $1.56, the 20 EMA at $1.8 and the 50 EMA at $2, in that order. The 20 EMA in particular is a level XRP held as support for 13 months and is seen as a key point for reversing the current downtrend. If XRP fails to break above all three major EMAs, the downtrend is likely to continue, the outlet said.