Key Insights:
- XRP maintained its position above the $2.15 support level despite a slight dip in trading volume.
- The token recorded a 0.23% intraday gain while reaching a 24-hour high of $2.18.
- Market analysts suggested that XRP had reached its bottom during the April 7 session.
On Monday, Ripple (XRP) held steady above the $2.15 level, gaining marginal ground in a relatively flat market session.
While the broader crypto space stayed green, XRP’s price resilience sparked fresh debate around a potential bottom.
The XRP crossover happened because experts recognized technical signs and fundamental factors indicating a substantial market movement.
XRP recorded a 0.23% daily change, keeping its price close to the $2.15 support zone as trading activity decreased by 25% to $2.99 Billion.
Despite the dip in volume, XRP maintained its 24-hour high of $2.18 and showed relative strength.
XRP maintained its place among leading cryptocurrency assets because its market value reached $125.33 Billion.
Technical analysts follow potential evidence for establishing a sustainable market floor, even though momentum indicators produce inconsistent results.
Market sentiment became stronger because of technical patterns, ETF speculation, and capital flow patterns.
Resistance Levels Hold Back XRP Price Rally
Analyst EGRAG CRYPTO suggested that XRP may have reached its lowest point during the April 7 trading session.
He noted that for the trend to be confirmed, XRP must close a weekly candle fully above key resistance levels.
The crucial resistance points for XRP price movement include $2.10, the 21-week EMA, and the essential condition of completing a weekly candle fully above $2.25.
Despite the recent uptick, XRP failed to close above the key resistance of $2.25 during the last session.
Under the present market environment, the trend reversal for XRP still needs further confirmation. If XRP breaks above this resistance, it could lead to sustained bullish momentum.
XRP closed the last candle at $2.1462 on Binance, down 2.37% from the session’s peak of $2.2013.
During the session, XRP reached a low value of $1.9555 before climbing back to its highest point at $2.2013. However, it failed to maintain above $2.25.
The asset fought between support and resistance levels, resulting in this market wave motion.
XRP Indicators Signal Neutral Market Trend
The Relative Strength Index reached 49.28, demonstrating market indecision because this figure reflects neither overbought nor oversold levels.
At press time, the RSI showed signs of improvement because it had recently recovered from its low point near 32.70.
The market shows signs of short-term recovery since prices rebounded above oversold levels.
The MACD indicator suggested declining bullish sentiment because its line fell beneath its signal line.
At the time of writing, the MACD line was at -0.0559, but the signal line stood at -0.0457.
Near-term price movements need caution because existing data suggests an upcoming interruption of the ongoing recovery process.
Accumulation mainly occurred in XRP’s market despite the maximum Chop Zone indicator reading, which supported this trendless condition.
This aligns with XRP’s recent price consolidation pattern over the past few weeks.
XRP ETF Speculation Drives Bold Forecasts from Experts
In a separate development, analyst Zach Rector shared a bold price target of $15 for XRP based on potential ETF inflows.
He cited data suggesting inflows of $4 to $8 Billion could enter XRP-based ETFs within the first year of launch.
The analyst states that this inflow of funds would produce substantial growth in market capitalization.
Rector applied a market cap multiplier model, calculating that a $4 Billion inflow could expand XRP’s market cap by $800 Billion.
When the new $125 Billion amount is incorporated, the combined worth of assets would reach approximately $925 Billion.
With 60 billion XRP tokens circulating, this would lead to a price near $15.42.
Real-time evidence demonstrated that the market cap rose by $7.74 Billion, while the inflows amounted to $12.87 Million.
That move represented a 601x multiplier, reinforcing the effect ETFs might have on XRP’s value.
