XRP news today: XRP's Technical Indicators Suggest Potential 33% Gain to $3.00

XRP, the cryptocurrency associated with Ripple, is currently trading around $2.21, with a strong support level established at $2.20. This support coincides with the 50- and 100-day Exponential Moving Averages (EMAs), suggesting a potential upward movement towards $3.00 in the near term. The technical setup, including the Moving Average Convergence Divergence (MACD) indicator crossing above the mean line, has triggered a buy signal, further bolstering the optimistic outlook.

Despite recent volatility, with XRP experiencing a 29% drop in February and an additional 2.58% decline in March, the cryptocurrency has shown signs of recovery in April. The current consolidation around the $2 range is seen by many market observers as a potential springboard for future gains. Key resistance levels at $2.50, $2.80, and $3.00 are being closely watched for potential breakout confirmations.

However, caution is advised as a rejection from the $2.20 support could trigger increased volatility and deeper drawdowns, potentially testing the 200-day EMA at $1.98 or even April’s low of $1.61. The technical outlook remains positive, but market participants should be prepared for potential downside risks.

Analysts have made bold price predictions for XRP, with some suggesting significant price increases. Market analyst EGRAG Crypto has identified a macro channel pattern on XRP’s monthly chart that suggests a potential surge to $17 in May 2025. This prediction is based on a six-candle pattern that XRP appears to be repeating from its 2017 bull run. According to EGRAG, XRP has completed five of these candles since November 2024, setting the stage for a potential “mega monthly candle” in May 2025 that could drive prices up by 672% from current levels. Even more optimistically, EGRAG suggests that a breach of the upper boundary of this macro channel could trigger another upward move to $55, representing a 223% increase from the $17 target.

Other analysts, including Cryptollica, have identified a two-week chart pattern suggesting XRP may be exiting a multi-year compression zone, mirroring its structure before its last parabolic rally. This setup suggests a potential move to the $9-$10 range if the $1.95 level acts as a trigger zone.

A major catalyst for XRP’s price could be regulatory developments, particularly around XRP ETF approvals. The SEC recently postponed its decision on the Franklin Templeton XRP ETF application, moving the deadline to June 17. However, the probability of final approval has been raised to 85% by the fourth quarter of 2025. The current delay is procedural, and the SEC might act before the final October deadline. The ongoing Ripple lawsuit is also expected to conclude within the year, which would remove a major hurdle for XRP-based ETFs in the United States. International XRP ETF products are already showing success, with Teucrium’s leveraged XRP ETF attracting $55 million in net assets within its first month of trading, while a Brazil-listed Ripple ETF has also gained investor traction.

Ripple’s recent business moves show its ambition to expand its market presence. The company attempted to acquire Circle, the issuer of USDC stablecoin, for approximately $5 billion. This acquisition would have immediately increased Ripple’s stake in the stablecoin market, where it entered in 2024 with the launch of Ripple USD (RLUSD). However, Circle rejected the offer, citing its plans to go public via an IPO. This attempted acquisition follows Ripple’s purchase of Hidden Road, a brokerage firm, for $1.25 billion on April 8 – Ripple’s largest acquisition to date.