XRP price maintaining strength above $2, forming a bullish trend
Price recently peaked at $2.24 before slight correction
Technical indicators show bullish momentum with support at $2.10
Analysts predict potential 30% move to $2.60 if current support holds
Some experts forecast XRP could reach $5.50 by late 2025
XRP, the cryptocurrency associated with Ripple, has been showing promising price action recently, maintaining its position above the crucial $2 mark. The digital asset has caught the attention of traders and investors as it displays signs of a fresh upward trend despite broader market uncertainties.
The price of XRP started a new increase after successfully holding above the $1.88 support zone. It climbed past several resistance levels including $1.98 and $2.00, demonstrating buying pressure in the market.
On its recent upward move, XRP formed a high at $2.24 before entering a corrective phase. During this correction, the price dipped below $2.12 but found strong support near the $2.08 level.
Currently, XRP is trading above $2.10 and the 100-hourly Simple Moving Average, which is considered a positive sign by technical analysts. A bullish trend line has formed with support at $2.10 on the hourly chart.
The cryptocurrency gained 1.41% on April 14 alone, showing resilience in the face of overall market uncertainty. This price behavior suggests that market participants maintain confidence in XRP’s long-term growth potential.
Technical Analysis and Support Levels
On the technical front, the MACD indicator for XRP/USD is gaining pace in the bullish zone. The Relative Strength Index (RSI) is currently above the 50 level, indicating positive momentum.
If we look at the chart pattern, XRP has established several key support levels. The first major support lies near $2.10, coinciding with the trend line. Another important support is at the $2.08 level.
Should the price break below these supports, the next major level to watch would be the $2.00 mark. If further selling pressure emerges, support at $1.92 could come into play.
XRP rebounded impressively by 14.28% on Wednesday, surpassing the 200-day Exponential Moving Average at $1.95. After a 4.24% pullback the following day, it regained momentum and climbed back toward its recent high of $2.23.
The daily RSI currently stands at 50 and is pointing upward, which is considered a neutral to slightly bullish signal. Maintaining the RSI above 50 will be crucial for sustaining the current recovery.
Resistance Levels and Upside Potential
Looking at the resistance levels, XRP might face its first challenge near $2.17. The more important resistance sits at $2.20, followed by $2.25.
If buyers manage to push the price above $2.25, the next targets would be $2.32 and potentially $2.45 or even $2.50 in the near term. The $2.55 level represents a major hurdle that would require substantial buying pressure to overcome.
According to analyst Ali Martinez, XRP is showing bullish signs as it maintains its position above the critical $2 threshold. If this support continues to hold, some analysts predict a potential 30% move that could take the price to around $2.60.
If $XRP can stay above the key $2 level, a 30% move toward the channel’s upper boundary at $2.60 could be next! pic.twitter.com/tBXV0Y28De
For more substantial gains, XRP would need to break above $2.40, which could potentially open the path toward the $3 mark. This would represent a major milestone for the cryptocurrency.
Under favorable macroeconomic conditions and continued momentum, some experts believe XRP could climb as high as $5.50 by late 2025. This target was previously predicted by Standard Chartered.
However, it’s worth noting that open interest in XRP has declined by 3.78% according to Coinglass statistics. This reduction indicates that some traders are closing their positions, reflecting a degree of uncertainty in the market.
As with any cryptocurrency investment, traders should proceed with caution. While the technical indicators and price action currently favor the bulls, market conditions can change rapidly.
The future price movement of XRP will likely depend on broader market trends, developments in Ripple’s ongoing legal matters, and institutional adoption of the technology. Investors should stay informed and manage their risk accordingly as the year progresses.
To summarize, XRP is in a bullish trend above $2 with potential for further gains if it can clear key resistance levels at $2.20 and beyond.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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