XRP currently trades at $2.07, maintaining crucial support at $2.00
Technical analysis shows a symmetrical triangle pattern with a potential 73% gain target at $3.51
Ripple’s RLUSD stablecoin integration could boost XRP’s utility and price
An “odd filing” in the SEC vs. Ripple lawsuit might increase price volatility
Coinbase plans to launch XRP futures on April 21, potentially attracting institutional investors
XRP (XRP) has been showing mixed signals in recent days, with the cryptocurrency currently trading at $2.07 and maintaining crucial support at the $2.00 level. Market analysts are closely watching several key developments that could determine the direction of XRP’s price in the coming weeks.
The digital asset is currently in a consolidation phase, trading between support at $2.00 and resistance near $2.50. Technical indicators show a neutral Relative Strength Index (RSI), suggesting an equilibrium between buyers and sellers in the market.
On the daily timeframe, XRP has formed a symmetrical triangle pattern between January 16 and April 3. This pattern often precedes a major price movement. The price is currently retesting the lower trendline of the triangle at $1.98, a level from which it has successfully rebounded multiple times in the past.
If XRP follows historical patterns and breaks above the triangle’s descending trendline at $2.40, analysts project a potential target of $3.51. This would represent a substantial 73% gain from current price levels.
Ripple’s Stablecoin Integration
Ripple, the company behind XRP, recently announced the integration of its RLUSD stablecoin into its cross-border payments system, Ripple Payments. This development, announced on April 2, could have major implications for XRP.
RLUSD is a USD-pegged stablecoin launched in December 2024. It works in tandem with XRP, providing stability for transactions while XRP serves as a fast, liquid bridge currency.
This dual-asset strategy targets the $230 billion cross-border payments market and aims to increase demand for both assets. The market capitalization of RLUSD has grown to $244 million, with 87% growth in March alone, according to data from rwa.xyz.
As adoption of Ripple Payments grows, financial institutions may rely more heavily on XRP for liquidity, especially in volatile corridors. This increased utility could drive up demand for the cryptocurrency.
The pairing of RLUSD with XRP on the XRP Ledger (XRPL) and various exchanges could also increase trading volume and activity on XRPL’s decentralized exchange, potentially tightening XRP’s supply.
Legal Developments and Future Catalysts
XRP price might experience increased volatility due to recent developments in the ongoing SEC vs. Ripple lawsuit. An individual known as Justin Keener has submitted what was described as “decisive evidence” in favor of Ripple through an emergency request.
While details about this evidence remain limited, it reportedly relates to Keener’s physical investment contracts. This filing comes as the XRP community awaits the final statement in Ripple’s case on April 16, which could potentially mark the end of years-long legal battles between Ripple and the regulator.
Adding to potential price catalysts, Coinbase has filed with the CFTC to launch XRP futures on April 21. This product could drive institutional interest in XRP and make it more appealing to risk-averse investors who seek ways to mitigate exposure to crypto volatility.
Despite these potentially positive developments, the technical picture shows some concerning signs. The descending triangle pattern visible on the daily chart indicates prevailing bearish pressure. If XRP breaks below the $2.02 support level, some analysts warn it could trigger a 48% drop to $1.04.
The RSI indicator currently sits at 39, suggesting that sellers remain active and XRP is still within bearish territory. For a bullish reversal, XRP would need to break above the 50-day exponential moving average.
Various crypto analysts remain optimistic about XRP’s prospects. Some, like Dark Defender, project ambitious price targets between $5 and $18 in the medium to long term based on Elliott Wave theory. Meanwhile, analyst CasiTrades has identified a bullish divergence on the RSI across multiple timeframes, suggesting a price bottom and a potential upside target of $3.80.
When #XRP hit $3.3999, we set a 5 Elliott Wave Structure and explained that XRP completed the Monthly 3rd Wave and entered into correction, Wave 4.
We set the Wave 4 dip with a precision of $2.02.
B is in action; we also have precise levels for B Wave.
As the market awaits these key developments—the SEC case resolution and Coinbase futures launch—XRP’s price action in the coming days will be crucial to determine whether it can maintain support and stage a recovery, or if further downside is in store.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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By Nermeen Nabil Khear 
