XRP Maintains Bullish Trajectory, Targets $2.40 as Market Confidence Grows
XRP is maintaining its upward momentum, displaying a strong technical structure characterized by consistent higher lows and higher highs. The recent price action suggests that the asset could see further upside, with traders becoming increasingly optimistic about its potential in the coming months.
On April 12th, XRP surged past the $2.07 resistance level, gaining 13.7% to reach $2.24. This price increase was accompanied by a substantial trading volume of 240 million, showing that market participants remain confident in the cryptocurrency’s bullish trajectory. Experts have begun setting higher price targets for XRP, with some predicting a potential range between $10 and $20 in the near future.
XRP is currently forming an ascending triangle pattern, which historically signals continued upward momentum once the price breaks through key resistance levels. A move above $2.22 could open the door for further price action, with the next potential target around $2.40. Notably, the XRP/BTC chart has shown a bullish crossover similar to the one seen prior to the remarkable 958% rally in 2017, further adding to the optimism surrounding XRP’s future.
With XRP trading around $2.00, the ongoing market recovery provides additional tailwinds for potential upside. As the broader cryptocurrency market strengthens, XRP’s price action is likely to continue following the current bullish trend.
Technical Analysis Overview
- XRP demonstrated impressive strength, rising from $1.93 to $2.24 (13.7%) in the analyzed period.
- The cryptocurrency has formed an uptrend, with higher lows and higher highs, and has established strong support at $2.08.
- The April 12th price surge broke through the $2.07 resistance level with 240 million in trading volume, confirming bullish market sentiment.
- According to Fibonacci extension levels, potential upside targets are set at $2.28 and $2.35.
- XRP is currently consolidating between $2.13 and $2.16, potentially forming a bull flag pattern, which could trigger further gains.
- The price action reflects resilience, with buyers stepping in at every dip, indicating sustained bullish sentiment in the market.
- XRP posted a 0.77% gain in the last 100 minutes, rising from $2.143 to $2.160.
- A breakout at 10:42 saw the price surge above $2.153 resistance, supported by elevated volume, confirming the continuation of the bullish trend.
- The price action has created an ascending channel, with support at $2.148 and resistance at $2.160, suggesting a path to higher levels.
- Significant volume surges during key movements, such as 11:07 and 11:31, further confirm the strength of the bullish trend.
- XRP surged 13.7% from $1.93 to $2.24, establishing a solid support base at $2.08, backed by strong volume during key breakouts.
- The technical setup shows a bull flag pattern, with potential targets of $2.28 and $2.35 based on Fibonacci projections.
- EGRAG CRYPTO, a leading analyst, identified a rare bullish crossover between the 55-week EMA and 155-week MA, signaling a potential surge similar to the 958% rally observed in 2017.
- XRP outpaced the broader market, rising 13%, while the CoinDesk20 index recorded an 8.3% gain.
As XRP continues to surge, traders are closely monitoring key resistance levels. If the price successfully breaks through the $2.22 mark, a move toward $2.40 and beyond is expected, with XRP potentially seeing significant growth in the coming months.
