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- XRP may swing between $1.79-$1.90 (support) and $2.80-$3.00 (resistance) in April, with volatile wicks.
- A 62-70% surge could follow the low retest, mirroring XRP’s history of explosive post-consolidation rallies.
- The boredom phase precedes a potential $2 retest and blastoff, but Bitcoin trends and Ripple’s legal case remain wildcards.
Egrag Crypto has posted a bullish outlook for XRP for April with considerable fluctuations. In a recent post on X, the analyst could describe a range-bound movement that might put pressure on the support level before breaking out, or testing the support level after a pullback from the resistance level.
Thus, the given analysis suggests that XRP is in a potential “wicking process” at two critical price levels this month. At the lower end, the price could reach $1.79 – $1.90 with an extreme sell-off that is likely to be met by demand from buyers at this level. At the same time, the upper bull channel border, constituted by approximately $2.80 & $3.00, poses a probable resistance zone that may result in a steep but fleeting reversal.
XRP’s 70% Rally Potential
Egrag also opines that once XRP finds its bottom, the asset could rally by 62% to 70% from the lowest level. This projected upside is in concurrence with past trends, where XRP has most often bounced back after being stagnant. The analyst also highlighted that the market is still in what he formerly described as the ‘boredom stage’, where the price has limited walking space and price swings.
Such phases have previously been followed by a surge in XRP’s price, which has surprised many traders. The analyst further expected a fourth touch of the level of $2.00 before the blastoff takes place. It might serve as the much-needed upward momentum that could see the price of XRP returning to the trend of reaching new highs yearly.
Bitcoin’s Dominant Influence
Thus, the changes in the broader crypto market will mainly be reflecte in the movements of Bitcoin, which is likely to affect XRP. Furthermore, the continuing legal proceedings of Ripple may also affect the regulatory aspect and thus investors’ perceptions. There is a signal from technical analysis that buyers’ interest improves and holds, but the break of the resistance level will determine the confirmation. The price has been in a consolidation stage that might endure for several weeks or months, and the coming week will define further direction. As of press time, XRP is trading at $2.18, showing a 1.08% increase over the past day.
Source: TradingView
The analysis presents a cautiously optimistic outlook for XRP in April, with significant price fluctuations expected within a range-bound market. The analyst anticipates potential support at $1.79–$1.90, followed by a surge in demand, while resistance around $2.80–$3.00 could cause a temporary reversal.
