XRP Holds at $2.07 Amid Mixed Signals, Potential 73% Gain Awaits

XRP, the cryptocurrency associated with Ripple, is currently trading at $2.07, holding steady at the crucial support level of $2.00. This stability comes amidst a period of mixed signals in the market, with technical analysis indicating both potential gains and risks. The digital asset is currently in a consolidation phase, trading between support at $2.00 and resistance near $2.50. The Relative Strength Index (RSI) shows a neutral reading, suggesting a balance between buying and selling pressures.

On the daily chart, XRP has formed a symmetrical triangle pattern, which is often a precursor to significant price movements. The pattern, which developed between January 16 and April 3, is currently being retested at the lower trendline of $1.98. If XRP breaks above the descending trendline at $2.40, analysts project a potential target of $3.51, representing a 73% gain from the current price. However, if the price breaks below the $2.02 support level, there is a risk of a 48% drop to $1.04, according to some analysts.

Ripple, the company behind XRP, recently announced the integration of its RLUSD stablecoin into its cross-border payments system, Ripple Payments. This development could significantly boost XRP’s utility and price. RLUSD, a USD-pegged stablecoin launched in December 2024, works in tandem with XRP to provide stability for transactions while XRP serves as a fast, liquid bridge currency. This dual-asset strategy targets the $230 billion cross-border payments market, aiming to increase demand for both assets. As adoption of Ripple Payments grows, financial institutions may rely more heavily on XRP for liquidity, especially in volatile corridors, potentially driving up demand for the cryptocurrency.

Legal developments in the ongoing SEC vs. Ripple lawsuit could also impact XRP’s price. An individual known as Justin Keener has submitted what was described as “decisive evidence” in favor of Ripple through an emergency request. While details about this evidence remain limited, it reportedly relates to Keener’s physical investment contracts. This filing comes as the XRP community awaits the final statement in Ripple’s case on April 16, which could potentially mark the end of years-long legal battles between Ripple and the regulator.

Adding to potential price catalysts, Coinbase has filed with the CFTC to launch XRP futures on April 21. This product could drive institutional interest in XRP and make it more appealing to risk-averse investors who seek ways to mitigate exposure to crypto volatility. Despite these potentially positive developments, the technical picture shows some concerning signs. The descending triangle pattern visible on the daily chart indicates prevailing bearish pressure. The RSI indicator currently sits at 39, suggesting that sellers remain active and XRP is still within bearish territory. For a bullish reversal, XRP would need to break above the 50-day exponential moving average.

Various crypto analysts remain optimistic about XRP’s prospects. Some, like Dark Defender, project ambitious price targets between $5 and $18 in the medium to long term based on Elliott Wave theory. Meanwhile, analyst CasiTrades has identified a bullish divergence on the RSI across multiple timeframes, suggesting a price bottom and a potential upside target of $3.80. As the market awaits these key developments—the SEC case resolution and Coinbase futures launch—XRP’s price action in the coming days will be crucial to determine whether it can maintain support and stage a recovery, or if further downside is in store.