XRP Technical Analysis: 2 APR 2025

output:

Technical Analysis

After a brief pullback that saw XRP pierce through the support range at $1.90, the crypto token has been on a steady rise, breaking through immediate intra-day resistance levels one by one.

Currently, XRP is engaged in an up-channel formation on the 4-hour chart, indicating that buyers are currently in a stronger position and are more likely to push price higher over the next few hours to sessions.

As price action is getting vivid in today’s session with an implication of more moves to come, the key level to watch out for on the upside is $2.25. An strength in price action over this level will be a favorable thing for the bulls if they are to stretch the upside higher towards the $2.35 and $2.40 levels. This is where both horizontal as well as trendline-based resistances are aligned, which can cause short-term profit-takings.

Support is seen as being layered and well-defined. The $2.13 level is the first key line of defense, which aligns with the channel’s support levels, followed by the stronger $2.00 zone. However, as for the session, XRP is taking assistance from the $2.20 level. The longer this support level holds, the better it will be for the bulls.

Moreover, on the lower time periods, the 50-period Exponential Moving Average (EMA) is providing support to the bulls. A break lower will shift the bias back to the bears.

Relative Strength Index (RSI) is heating up in the overbought territory, which can be an early warning sign for a potential reversal in the trend if the overbought levels aggravate further.

Concluding Thoughts

To summarize, XRP is trading inside a bullish ascending trend. Strength is seen at the $2.25, which is the round-level resistance. Support, on the other hand, is preferred at the $2.13, which coincides with the channel’s support, followed by the stronger $2.00 zone.

The 50-period EMA is also an important level to watch out for, as a break lower could shift the bias back to the bears.

For new positions, it is advisable to wait for a candle close and hold off on any immediate entries.

Good luck trading!