TLDR
- The XRP price hit a weekly low at $1.98, unable to overcome the resistance at $2.23.
- Currently, the price remains beneath $2.10 and is trading under the 100-hour Simple Moving Average.
- Market specialist Egrag anticipates a possible decline into the $1.79-$1.90 region during April.
- There's speculation about a potential upward leap to the $2.80-$3.00 levels this April.
- Post the 'calm before the storm' phase, a significant rally of 62-70% could lie ahead, starting from the lowest point.
XRP, the digital currency tied to Ripple, is under pressure at the beginning of April, trading beneath critical technical barriers. Recently, it has marked a new weekly low at $1.98 after failing to maintain momentum past the $2.23 resistance level.
The cryptocurrency commenced another drop after failing to surpass the $2.23 hurdle. This downward trajectory forced XRP below several crucial supports, including the $2.15 and $2.12 marks.
Short-term signaling tools indicate persisting weakness. The asset trades under the $2.10 line and also below the 100-hourly Simple Moving Average, evidencing bearish dominion.
A short-term decreasing triangle had support at $2.08 on the XRP/USD hourly chart, which was also penetrated, reinforcing the ongoing negative outlook.
Despite a slight rebound above the 23.6% Fibonacci level from $2.23 high to the $1.98 depth, the overall negative sentiment is unchanged.
April Price Prediction
Crypto analyst Egrag has shared projections for XRP in April, shedding light on what traders might prepare for in the upcoming month.
Employing a monthly chart, Egrag postulates that XRP is in a 'boredom phase,' with stagnant trading and reduced trader enthusiasm.
#XRP – April Candle Formation Forecast
April looks to be an exciting time with possible tests near both high and low ranges; here's how it might unfold:
1⃣ Lows Testing: #XRP The price might revisit the lower zone around $1.90-$1.79, part of a wick process.
2⃣ Highs Testing:… pic.twitter.com/6RqfsLX5OS
— EGRAG CRYPTO (@egragcrypto) April 2, 2025
As per the analyst, April could witness a volatile swing for XRP. The chart suggests testing both ends of the price spectrum before the month concludes.
On the pessimistic side, Egrag expects XRP could revisit the $1.90–$1.79 zone, describing such movement as a transient 'wick,' implying any test here might be short-lived.
Conversely, the analyst's chart hints at a likely surge toward $2.80–$3.00 within the month. Like the predicted lower boundary test, any move here might be temporary.
A fascinating aspect of Egrag’s study is the potential 62–70% upward leap from the lowest wick point, likely soaring fast once key technical thresholds are breached.
Support and Resistance Levels
For enthusiasts tracking pivotal price markers: XRP The resistance stands strong near $2.07, with a major resistance threshold at $2.10.
The 50% Fibonacci retracement of the recent downturn also aligns around the $2.10 level, marking this area as crucial for bullish endeavors.
Should buyers propel prices beyond $2.10, subsequent resistance is spotted at $2.17. An evident rise past this mark could drive XRP towards the $2.20 or possibly $2.40 resistance in the short term.
On the dip side, initial support is seen around $2.02, with key support fixed at $2.00. Slipping below this psychological threshold might spark more selling pressure, possibly forcing XRP toward $1.98 or even $1.95.
Current technical metrics signal a bearish tilt. The hourly MACD is gaining momentum in the bearish arena, while the hourly RSI lingers below 50.
Egrag believes current movements arise partly from market participant disillusionment. Many had anticipated a swift rise post-SEC litigation updates, only to face sideways actions.
He recommends perseverance for ‘the mentally resilient’ in this low-excitement, sideways market period. For those who trust XRP's larger promise, accumulating now might prove wiser than timing every brief shift.
At this moment, XRP hovers at $2.14, illustrating the asset's ongoing fluctuations around the $2 level as anticipated in the setup.
