- XRP price is coming into the buyers' territory on the 2-day chart.
- XRP price looks like an ending diagonal.
- Invalidation of the bullish setup will be a close below $0.62.
XRP price is off with the rest of the crypto market. However, there are a few reasons to believe in a bounce at these levels.
XRP price will bottom eventually
XRP price is currently trading at $0.70, hovering exactly where analysts forecasted it to fall on April 4th. Now that the XRP price has validated the bearish thesis, traders should keep their eyes on the digital remittance token for early signs of a bottom.
Ripple price has added bullish confluence based on the Relative Strength Index, as it is currently falling into ideal buyers' territory. The safest bullish trade setup will be to place a buy stop at the previous consolidation level at $0.78 with a stop loss at the swing low, looking for a significant 30% reversal rally back to $0.93 to commence for XRP price in the coming weeks.
Riskier traders could look for buy signals at the current levels like hammers and bullish engulfing candles and, if they occur, place a stop loss under $0.62.
XRP/USDT 8-Hour Chart
Invalidation of the uptrend possibility is currently $0.62. If the bears can push through this level, the counter-trend rally will take much longer to commence. XRP price could fall to $0.60 and $0.56, resulting in a 20% dip from the current XRP price.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Tether expands reach with Juventus acquisition and new Bitcoin-native public company launch
Tether announced on Thursday that it had acquired additional shares in Juventus Football Club, bringing its total stake to over 10.12% and representing 6.18% of voting rights. Tether, Bitfinex, SoftBank & Jack Mallers also launch Twenty-One, the first Bitcoin-native public company.
Ethereum Price Forecast: Accumulation addresses grab 1.11 million ETH as bullish momentum rises
Ethereum (ETH) saw a 1% decline on Friday as sellers dominated exchange activity in the past 24 hours. Despite the recent selling, increased inflows into accumulation addresses and declining net taker volume show a gradual return of bullish momentum.
Stacks price eyes $1 amid growing interest in Bitcoin layer-2 protocols' DeFi ecosystems
Stacks (STX) price rises, hitting a new weekly high at $0.90 during the Asian session on Friday. The Bitcoin layer-2 protocol shows bullish resilience, trading at $0.88 at the time of writing, reflecting growing institutional interest in the decentralized finance (DeFi) ecosystem.
Bitcoin's surge to $94,000 shows a mix of macro optimism and shifting investor sentiment: Glassnode
Bitcoin (BTC) traded above $93,000 on Thursday as rumors of US-China tariff easing stirred a rebound in price, sending the percentage of supply in profit at current price levels to 87.3%, 5% above 82.7% recorded in March, according to Glassnode data.
Bitcoin Weekly Forecast: BTC holds steady, Fed warns of tariffs’ impact, as Gold hits new highs
Bitcoin price consolidates above $84,000 on Friday, a short-term support that has gained significance this week. The world's largest cryptocurrency by market capitalization continued to weather storms caused by US President Donald Trump's incessant trade war with China after pausing reciprocal tariffs for 90 days on April 9 for other countries.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.