Quickly understand the history and background of various well-known coins

XRP's Price Volatility: Surges 10% Then Retreats

Coin WorldTuesday, Apr 22, 2025 12:17 am ET

1min read

XRP, the cryptocurrency associated with Ripple, has recently experienced a volatile period, with its price initially surging above the $2.050 mark before encountering resistance and retracing its gains. The price of XRP began a recovery wave, surpassing key resistance levels at $2.050 and $2.080, similar to the movements seen in Bitcoin and Ethereum. This upward momentum pushed the price towards $2.150, but the bulls faced significant resistance, leading to a downward correction.

The price dipped below the $2.10 and $2.080 support levels, but the bulls managed to protect the 76.4% Fib retracement level of the upward move from the $2.038 swing low to the $2.139 high. Currently, XRP is trading above $2.080 and the 100-hourly Simple Moving Average, with a connecting bullish trend line forming support at $2.080 on the hourly chart of the XRP/USD pair. However, the price faces resistance near the $2.10 level, with the first major resistance at $2.120. A clear move above the $2.150 resistance could potentially send the price towards the $2.20 resistance, and further gains might push it towards $2.220 or even $2.250 in the near term. The next major hurdle for the bulls is at $2.350.

If XRP fails to clear the $2.10 resistance zone, it could start another decline. Initial support on the downside is near the $2.080 level and the trend line, with the next major support at $2.060. A downside break and close below the $2.060 level could see the price continue to decline towards the $2.0320 support, with the next major support near the $2.00 zone. Technical indicators show that the MACD for XRP/USD is losing pace in the bullish zone, while the RSI for XRP/USD is below the 50 level. Major support levels are at $2.080 and $2.060, with major resistance levels at $2.10 and $2.120.

In summary, the recent gains of XRP have faded quickly, with the price struggling to maintain its upward momentum. The cryptocurrency faces significant resistance at key levels, and a failure to clear these hurdles could lead to another decline. Technical indicators suggest a loss of bullish momentum, and the price is currently consolidating above $2.080. The next few days will be crucial in determining the direction of XRP's price movement, as it navigates through these resistance and support levels.

Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.