XRP Recovers 22% After Two-Week Decline, Analysts Predict Surge to $3.80

XRP, the cryptocurrency, has shown signs of recovery after a two-week decline, with analysts predicting a potential surge to $3.80 or even higher to $8, contingent on overcoming key resistance levels. The cryptocurrency experienced a 22% drop between March 19 and March 31, falling from $2.02 to a recent high of $2.20, and is currently trading just above $2.05. Despite the modest recovery, analysts are optimistic about the underlying momentum.

CasiTrades, a prominent analyst, identified bullish divergences across various time frames, from 15-minute to 4-hour charts. This divergence indicates that while the price made lower lows, the relative strength index (RSI) made higher lows, suggesting a shift in momentum. CasiTrades highlighted that if XRP breaks above $2.25 with strong momentum, it would invalidate the need for another support retest, signaling a bullish trend. The analyst aims for targets of $2.70 and $3.80 this month, assuming the bounce holds.

However, not all analysts are bullish on XRP's prospects. Veteran trader Peter Brandt identified a "textbook" head-and-shoulders (H&S) pattern forming. If XRP falls below the neckline at $1.90, Brandt predicts a plunge to $1.07. He cautioned that below $1.90, he would not want to own XRP, as the pattern projects a significant decline. Brandt also noted that the pattern would be invalidated if XRP clears and holds above $3.00.

Meanwhile, analyst Dark Defender maintains a bullish outlook, suggesting that XRP may revisit the $2.04 Fibonacci level before aiming much higher. He predicts that April and May will be hot months for XRP, with targets ranging between $5 and $8. Dark Defender flagged $2.22 as a resistance level that XRP "should break" to confirm a Wave 5 rally.

Macroeconomic factors could also impact XRP's near-term price action. The April 2 U.S. tariffs may stir trader nerves and briefly send XRP toward $1.31, adding uncertainty to the cryptocurrency's short-term outlook.

In summary, XRP is at a critical juncture. A strong push above $2.25 could fuel a rally toward $3.80, but a break below $1.90 might flip the momentum firmly in the bears’ favor. The cryptocurrency's future direction will depend on its ability to overcome key resistance levels and navigate potential macroeconomic headwinds.