- XRP shows bullish momentum with key support at $2.19 and resistance at $2.24.
- MACD crossover and positive histogram indicate strengthening upward momentum.
- Analysts predict XRP could reach $2.66, marking a 19.13% increase in April.
XRP has continued to display strong bullish behavior as it moves deeper into April. Recently priced at $2.23, the token posted a 2.13% daily increase, signaling fresh investor enthusiasm. Besides the price action, other important metrics have painted a promising picture.
The token’s market cap now sits at $130.68 billion, while the 24-hour trading volume recorded a decline of 21.10% to $3.23 billion. Despite the volume drop, technical indicators suggest that the bullish momentum may strengthen further. Consequently, investors and traders are closely monitoring key levels for potential breakout opportunities.
Price Action Highlights Strong Bullish Breakout
The recent price trend has revealed a phase of notable volatility. Initially, XRP followed a mild uptrend before facing several small corrections. Each correction reflected brief profit-taking phases, yet the price repeatedly found stability and rebounded quickly.
Significantly, toward the end of the latest price chart, XRP displayed a strong bullish breakout, pushing its value sharply higher to $2.238. This move highlighted renewed buying pressure and hinted at the potential for further gains if current momentum holds.
Key Support and Resistance Levels
Support levels around $2.19 and $2.21 have proven critical in maintaining XRP’s upward trend. These areas saw multiple price bounces, confirming strong buyer interest near these points.
Hence, any future corrections could again find footing around these zones. On the resistance side, the current price at $2.23 poses an initial challenge. However, if bullish pressure continues, the next minor hurdle appears near $2.24. Additionally, surpassing these levels could open the door for a rally toward even higher price targets.
Indicators Support a Bullish Outlook
Momentum indicators have further boosted positive expectations. The MACD recently flashed a bullish crossover, as the MACD line climbed above the signal line. Besides, the histogram has turned positive, suggesting a rise in bullish momentum.
Meanwhile, the Relative Strength Index (RSI) currently reads 56.35. Consequently, this mid-range position suggests XRP is not yet overbought, leaving room for additional upward movement before any major correction emerges.
Looking ahead into the rest of April, Coincodex analysts forecast estimate XRP could reach as high as $2.66. This would represent a 19.13% increase from its current level. Moreover, projections suggest a potential trading range between $1.86 and $2.66, resulting in an average price around $2.40.
