TLDR
- XRP price surged 15.3% to hit $2.08 on April 9, following a multi-month low of $1.6401 on April 7
- The main driver was President Trump’s announcement of a 90-day pause on reciprocal tariffs, excluding China
- Elliot Wave Analysis suggests XRP could drop below $1 before potentially reaching $20 in a Wave 3 rally
- A rare bullish crossover has occurred on the XRP/BTC weekly chart, similar to May 2017 which preceded a 958% surge
- If Bitcoin reaches $170,000, some analysts project XRP could hit $29 based on historical XRP/BTC ratio patterns
XRP has staged a recovery, jumping 15.3% to reach $2.08 on April 9 after hitting a multi-month low of $1.6401 just two days earlier. The price rebound comes amid a broader crypto market recovery following several days of downward pressure.
The recent price surge pushed XRP above the psychologically important $2 mark, though it has since retraced slightly to $1.98 at press time. Despite the impressive 24-hour gains of over 12%, XRP remains down 3.35% over the past week and 5.06% over the last 30 days.
Market volatility has been substantial in recent days, with most cryptocurrencies experiencing sharp declines followed by strong relief rallies. The recovery follows a period of heightened uncertainty that had pushed investors away from riskier assets, including cryptocurrencies.
Trump’s Tariff Announcement Fuels Recovery
The primary catalyst behind XRP’s price jump appears to be an announcement from U.S. President Donald Trump. On April 9, the president issued a statement temporarily halting all ‘reciprocal’ tariffs for 90 days.
This three-month pause applies to tariffs the U.S. had imposed in response to other countries’ trade measures. During this period, the U.S. will lower its reciprocal tariffs to 10%.
China was notably excluded from this relief measure. Instead, the president raised China’s tariffs to 125%, citing “the lack of respect the country has shown the world markets.”
The announcement triggered a positive response across crypto markets. Bitcoin, which had fallen to $74,400 on Monday amid tariff tensions, rebounded to above $82,000 before settling around $81,753.
Elliot Wave Analysis Points to Major Price Movements
Looking beyond the short-term recovery, cryptocurrency analysts are applying Elliot Wave Theory to project XRP’s future price action. One popular analyst, XForced Global, suggests that XRP has completed its first wave, having rallied from $0.50 to $3.40.
According to this analysis, XRP is currently in Wave 2, which could see prices drop to a buy zone between $1.70 and $1.0. Due to market volatility, prices might even briefly dip below the $1 psychological level.
Just a friendly reminder: #XRP is one of the only few coins that has consistently formed higher lows for 7 years, despite relentless backlash.
Also, XRP continues to outpace $ETH in dominance, even in times of market stress. If that’s not strength, I don’t know what is. pic.twitter.com/NVbneHsoWg
— XForceGlobal (@XForceGlobal) April 10, 2025
The analyst predicts that Wave 3, typically the longest and strongest wave in the theory, could push XRP to around $20. At that price point, XRP’s market cap would reach approximately $1.16 trillion based on current supply.
Wave 4 would then trigger a correction to roughly $7 before a final fifth wave potentially propels XRP to $30. However, these projections would likely play out over several years rather than in the short term.
For the immediate future, traders are watching key price levels. Acceptance above $2.11 could signal strength and potentially drive the price to $2.41 and $2.60. These levels represent significant volume zones from the past four months.
Conversely, rejection at $2.11 might lead to an extended correction toward $1.47, which interestingly aligns with the buy zone identified in the Elliot Wave analysis.
Bullish XRP/BTC Chart Pattern Emerges
Adding to the technical picture, analyst EGRAG Crypto has highlighted a rare bullish crossover on the XRP/BTC weekly chart. The 55-week Exponential Moving Average recently crossed above the 155-week Simple Moving Average.
This pattern has only occurred once before in XRP’s history, on May 15, 2017. That previous crossover preceded a massive 958.97% surge in the XRP/BTC ratio, coinciding with XRP’s run to its all-time high of $3.8 in January 2018.
#XRP / #BTC: 55 EMA & 155 MA ($22-$29) but first $1.4:
🟣55 EMA * 155 MA
Has anyone talked about the combination of the 55 EMA and 155 MA on the #XRP / #BTC pair? I doubt it!I know what you are thinking: After yesterday's Bloody day , and you're still talking about double… pic.twitter.com/8OYR19epo8
— EGRAG CRYPTO (@egragcrypto) April 8, 2025
The current setup appears to mirror that historic pattern. Following the February 2025 crossover, the XRP/BTC pair is attempting to retest support levels. If history repeats and the pair achieves a similar percentage gain, the ratio could climb to about 0.000171 BTC per XRP.
Using this projection, if Bitcoin trades at $97,000, XRP could reach approximately $16.5. More optimistic scenarios suggest even higher prices: with Bitcoin at $130,000, XRP could hit $22; at $150,000, it could reach $25; and at $170,000, XRP might touch $29.
EGRAG’s analysis also points to four major bottoms for XRP/BTC since 2014, with the latest forming in early 2025. Each bottom historically preceded a significant upward move, suggesting another breakout could be underway.
At present, XRP trades at $1.98, having lost the $2 mark again after its recent surge. Bitcoin trades for $81,753, down from an earlier intraday peak of $82,743. The current XRP/BTC ratio stands at 0.000024.
