TLDR
- XRP bounced to $1.91 after dropping to $1.61, but faces key resistance at $2.00 and the 20-day EMA at $2.14
- A 200 million XRP transfer worth $355 million to Binance by a whale signals potential volatility
- Analysts are divided: some predict a drop to $1.30 while others see support holding at $1.88
- The $1.80 price level is considered a crucial support zone that needs to hold for bullish momentum
- If XRP breaks through resistance levels, analysts project a possible surge toward the $3.21 target
XRP’s price has experienced significant volatility in recent days, recovering to $1.91 after dropping as low as $1.61 during a broader cryptocurrency market downturn. The digital asset showed resilience with a 7% gain over the last 24 hours, but traders remain cautious as key resistance levels loom ahead.
The cryptocurrency, currently trading at $1.91 at press time according to CoinMarketCap data, faces multiple hurdles before it can regain clear bullish momentum. Most notably, XRP needs to overcome the psychological $2.00 resistance level that has proven difficult to breach.
Technical analysts point to the 20-day Exponential Moving Average (EMA) near $2.14 as another critical barrier. A decisive breakout above this level, supported by healthy trading volume, could potentially trigger a rally toward higher price targets that some analysts have identified.
XRP Price
Whale Activity Raises Concerns
Adding to market uncertainty, on-chain tracker Whale Alert recently detected a large transaction involving XRP. A known Ripple whale transferred 200 million XRP tokens, valued at approximately $355 million, to the Binance exchange.
Such substantial movements to exchanges often precede increased selling pressure or heightened market volatility. This transfer has prompted speculation about potential short-term price corrections, causing many traders to maintain a cautious stance.
The daily trading volume for XRP stands at around $12.09 billion, indicating active market participation despite the recent price fluctuations. With a market capitalization of approximately $104.24 billion, XRP remains one of the larger cryptocurrencies in the market.
Technical indicators currently paint a mixed picture for XRP. The Relative Strength Index (RSI) reads 35.12, suggesting bearish control over recent price action. The cryptocurrency is trading at the lower end of the Bollinger Bands after experiencing a bearish breakout over the past two days.
Analysts Divided on XRP’s Next Move
The outlook among cryptocurrency analysts remains split regarding XRP’s next potential move. Some technical analysts have highlighted a possible head-and-shoulders pattern forming on XRP’s chart, which could signal a decline toward the $1.30 level before any significant rebound.
Crypto analyst Ali Charts has presented this bearish scenario, suggesting XRP might need to test lower support levels before finding solid ground for recovery.
$XRP is breaking out of a head-and-shoulders pattern, setting the stage for a potential move to $1.30! pic.twitter.com/Uqr2SiX6z7
— Ali (@ali_charts) April 7, 2025
In contrast, analyst Dark Defender offers a more stable perspective, emphasizing that a key monthly support at $1.8815 continues to hold firm. This analyst suggests XRP isn’t in immediate danger of collapse as long as this support level remains intact.
There is no change in our #XRP Monthly Frame.
$1.8815 is holding firm.
USD's Chaos is Normal for the #Crypto.
Road to ATH.
Remember, remember. pic.twitter.com/L1SWunWcx7
— Dark Defender (@DefendDark) April 7, 2025
Other market observers suggest the $1.80 level represents a crucial support zone. They theorize that if XRP drops below this threshold, it might trigger fear among investors, potentially leading to increased selling pressure and further price declines.
However, some experts characterize any potential drop below $1.80 as likely temporary or possibly a false signal rather than a fundamental change to XRP’s market position. They anticipate buyers stepping in at this level to prevent further downside, potentially causing a bounce back above this threshold.
Price Targets and Resistance Levels
If XRP successfully holds support and market sentiment improves, several resistance levels come into focus. After the immediate hurdle at $2.00, further resistance lies at $2.05, followed by $2.12 and $2.15.
Some analysts project more ambitious targets, suggesting XRP could reach $3.21 if market conditions turn favorable. This would represent an approximate 70% gain from current levels and signal a broader market recovery from the present $1.80-$1.90 price range.
XRP’s price action in 2024 has featured notable volatility, with substantial gains in previous months before the current market downturn accelerated price declines. The cryptocurrency experienced a 490.25% rise during its last major uptrend, demonstrating the potential for explosive price movements when market sentiment shifts.
For now, investors are watching the $1.80 support zone closely, as it has historically acted as a price floor for XRP. If this level holds, it could establish the foundation for a recovery toward higher resistance levels.
The immediate outlook for XRP largely depends on whether it can maintain support above $1.80 and eventually break through the resistance at $2.00. Failure to clear these hurdles could lead to further consolidation or additional testing of lower support levels in the near term.
