- XRP faces resistance at $1.96 amid wave 4 downtrend and weakening short-term momentum
- Address growth hits record 6.25M, signaling strong network fundamentals despite volatility
- RSI near oversold and Wave C setup hint at a possible bullish reversal above $2 soon
XRP is facing significant price fluctuations, but several analysts are keeping an eye on key levels that could signal a shift in momentum. While the price struggles to hold support and confirms resistance, XRP’s long-term outlook might still point toward bullish potential.
Price Action and Resistance at $1.96
XRP is currently in a critical phase, testing $1.96, which was previously a strong support level. According to analyst Leb_Crypto, this price point is now acting as resistance during what appears to be a classic bear leg price action in a wave 4 downtrend.
If XRP manages to reclaim $1.96 as support this week, it could indicate the beginning of a bullish April or May. However, the probability of this happening at present remains low.
#xrp back testing and trying to confirm $1.96 as resistance (what used to be strong support). Class bear leg price action in wave 4 downtrend.
— LE₿ C®️YPTO (@leb_crypto) April 8, 2025
If $1.96 is regained as support this week, then this would suggest a bullish April/May. At the moment tho, this is a v low probability.
Growing Network Fundamentals and Long-Term Potential
Despite short-term price pressure, XRP’s network fundamentals are showing signs of strength. Ali Martinez notes that the number of addresses holding at least 1 XRP reached an all-time high of 6,255,795 on April 7, 2025. This indicates growing user adoption and long-term interest in XRP, despite the price volatility.
The chart suggests that key support is near $1.90, while resistance lies around $2.15. If XRP can maintain this upward trend in addresses and break through resistance, it could lay the foundation for a more sustained bullish rally.
Analyst Dark Defender also sees bullish potential in the longer term. XRP is currently oversold on both the 4-hour and daily charts, and Dark Defender suggests that the formation of Wave C may point to an upcoming reversal. The monthly 5th wave and weekly chart indications are expected to turn bullish, indicating that XRP might be ready to push above the $2 mark once conditions stabilize.
Hi all! #XRP on the 4-hour and daily chart is oversold!
— Dark Defender (@DefendDark) April 9, 2025
We have a great Wave C formed already.
So, considering our monthly 5th Wave, weekly chart indications are expected to turn bullish.
XRP is ready to make the move first above $2.
Have a great day,
Dark pic.twitter.com/iBPAvPym7T
As of press time, XRP’s price is hovering around $1.83, and recent data shows a decline of nearly 3% over the last 24 hours, with a broader drop of 13.33% over the past seven days.
The RSI stands at 33.33, approaching oversold territory, which suggests that the asset could bounce back soon. However, the prevailing trend remains bearish, as confirmed by the MACD, which is in negative territory.
