TLDR
- XRP price has started to increase above the $1.950 resistance level
- The cryptocurrency is currently trading above $1.920 and the 100-hourly Simple Moving Average
- XRP faces resistance near the $2.00 level, with major resistance around $2.050 and $2.0750
- XRP failed to break above the $2.20 resistance level in recent attempts
- Negative funding rates and declining open interest in futures markets suggest bearish sentiment may persist
XRP price has shown signs of recovery after dropping to lows of $1.61 on April 7, but the cryptocurrency still faces challenges in sustaining its upward momentum. Currently trading around $1.99, XRP has managed to climb above several resistance levels but continues to struggle below the crucial $2.00 mark.
XRP Price
The sixth-largest cryptocurrency by market capitalization began a fresh increase recently, moving above the $1.880 and $1.950 resistance levels. This recovery mirrors similar movements seen in other major cryptocurrencies like Bitcoin and Ethereum during the same period.
XRP bulls pushed the price to a high of $2.089 before the cryptocurrency entered a period of downside correction. During this correction, the price dipped below the $2.00 support zone but found stability near the $1.920 level.
Technical Indicators Show Mixed Signals
On the technical front, XRP is currently trading above $1.950 and the 100-hourly Simple Moving Average. A break above a short-term bearish trend line with resistance at $1.9750 was also observed on the hourly chart, indicating some positive momentum.
$XRP failed to get above the range Value Area Low (VAL) at $2.10 on Wednesday
If bulls flip this level into support, we could see a push toward $2.40 🚀
Failure to get above, could see another sweep of the lows pic.twitter.com/gsnDeKAgVk
— Trader Edge (@Pro_Trader_Edge) April 11, 2025
However, the cryptocurrency is struggling to maintain position above crucial moving averages. XRP is trading below both the 50-day and 100-day Simple Moving Averages, which typically signals bearish sentiment in the market.
The cryptocurrency currently enjoys support at $1.86, which aligns with the 200-day Simple Moving Average. This level could prove critical in determining whether XRP can maintain its recovery or face further downside pressure.
The Relative Strength Index (RSI) remains below the midline, suggesting that market conditions continue to favor downside movement. This technical indicator aligns with other bearish signals in the market.
Futures Market Shows Bearish Sentiment
The futures market for XRP paints a concerning picture for bulls. Negative funding rates have persisted since early February, indicating that bearish sentiment dominates the market. In perpetual futures contracts, negative funding rates mean short sellers are paying long holders.
Open interest in XRP futures has declined dramatically from $7.87 billion on January 17 to $3.06 billion as of April 10. This sharp decrease suggests traders are exiting their positions, which could make it difficult for XRP to maintain upward momentum.
Without renewed interest from institutional or retail traders, XRP’s price may struggle to overcome resistance levels and could face further downside pressure if selling intensifies.
Key Price Levels to Watch
For XRP to continue its recovery, the price must first clear the immediate resistance at $2.00. Beyond this level, the cryptocurrency faces additional hurdles at $2.050 and $2.0750.
A decisive move above $2.0750 could potentially push XRP toward the $2.120 resistance level. Further gains might extend to $2.150 or even $2.20. The next major resistance for bulls would be at $2.320.
However, if XRP fails to break above the $2.00 level, another decline could occur. Initial support is near $1.950, with major support around $1.920. A break below these levels could send the price toward $1.90 or even $1.850.
More concerning for XRP holders would be a close below the 200-day SMA at $1.86. Such a move could trigger a retest of the recent low at $1.61 or potentially push the price even lower toward $1.07, as predicted by veteran trader Peter Brandt.
XRP’s failure to break above $2.20 on April 5 and April 9 has reinforced the importance of this resistance zone. The price would need to flip this level into support to increase chances of a sustained recovery.
For a more optimistic outlook, XRP would need to close decisively above $2.20 and later rise above the 50-day SMA at $2.28, with high trading volume to support the move. Such a scenario could see XRP rally toward the 100-day SMA around $2.50.
The current market setup suggests XRP is at a critical juncture. The cryptocurrency has shown recovery strength, but persistent bearish indicators in the futures market and technical resistance levels pose challenges to sustained upward movement.
Traders and investors should watch key price levels closely in the coming days to determine whether XRP can overcome these hurdles or if another period of decline is on the horizon.
