XRP took off this year. It peaked at a whopping $3.39 in January but dropped nearly thirty percent, and now, prices are on the rise once again.
Right now, the price is at $2.47, which is a 38% increase from the low of $1.79. This surge was due to the news that Ripple resolved its legal battle with SEC, and also that the firm is securing a new license in Dubai.
Looking at the 4-hour chart, the price recently bounced off of a support level at $2.37, which corresponds with the 50-4H exponential moving average (EMA) level.
If the XRP is able to push past the resistance of $2.46 it may reach $2.77, which is a key Fibonacci retracement point.
Crypto analyst Dom in a recent tweet on X, pointed out that XRP needs to stay above $2.50 to maintain its upward trend. “The chart still looks very constructive,” he said, adding that if XRP stabilizes around this level, it could be a great sign for buyers.
Moreover, the Relative Strength Index (RSI), which tracks buying pressure, is sitting above 60, meaning there’s strong demand but it’s not yet in the danger zone of being overbought.
Another signal to consider is the symmetrical triangle pattern forming on longer timeframes. This pattern usually formed after a rally and then a price consolidation before another breakout. This is often a bullish pattern that could lead to a further rise in price after a record peak of 575% ascending price movement from late 2024 to early 2025. If XRP breaks above the upper trendline of the triangle, it could hit $4.20 by May.
Additionally, the Binance liquidation heatmap, which tracks where traders are placing bets, shows that key resistance levels are around $2.66 and $2.98, according to Coinglass. If XRP crosses $2.66, a wave of liquidations could push the price even higher.
Also Read: Why is the SEC silent on closing the Ripple XRP case?
