XRP's Stuck in a Rut: The $2.18 Daily SMA Saga
The Situation Now
Stuck XRP Prices: Anticipating a Return of Momentum?
XRP, the fourth-largest cryptocurrency, is struggling to gain ground, with its price clinging to the daily Simple Moving Average (SMA) 50 at around $2.18. After a series of attempts to break above this technical level, the fourth-largest digital asset has been stuck in a consolidation phase since mid-April.
XRP's Past Battles with the Daily SMA 50
During this current cycle, the daily SMA 50 has served as a formidable barrier for XRP. The digital currency lost this support in February and struggled ever since to establish a decisive break above it. Despite brief rallies, XRP has been unable to generate sustained momentum, mainly moving sideways since then.
Bullish Efforts and the Search for Momentum
Bulls are making an effort to reignite the XRP's momentum. Recent positive news regarding XRP-focused ETFs, such as the SEC's approval of ProShares Trust's XRP ETF launch on April 30 and Hashdex's announcement of an XRP ETF on the Brazilian stock exchange, may provide the needed catalyst for a sustained break above the daily SMA 50.
If bulls manage to push XRP beyond the daily SMA 50, it could set the stage for a bull run and aim higher, potentially at $3. However, if XRP fails to break the daily SMA 50 and falls back into consolidation or even declines, it could slide to lower levels like $2 or even lower with sellers regaining control.
Technical Levels and Predictions
According to April 2025 current price levels, XRP is trading around $2.36, having tested monthly highs recently. The price has fluctuated between $1.90 and $3.00 with potential for brief excursions outside these bounds. The Relative Strength Index (RSI) is currently neutral at 42.28, indicating potential for price movement in either direction.
Short-term predictions suggest potential for reaching $2.80-$3.00 due to positive market sentiment or significant news. A consolidation scenario might see the price stabilizing around $2.00-$2.50 without major market-moving events. In a bearish scenario, drops to $1.85-$2.00 are possible if support levels are breached.
Long-term predictions, such as EGRAG's analysis, suggest XRP could potentially reach $27 by summer 2025 as part of Wave 3, with further potential to reach $120 in the longer term. Other factors that might affect XRP's price include ETF approvals, market sentiment, and significant news events.
- Despite XRP being stuck at its daily Simple Moving Average (SMA) 50 of $2.18, bulls are striving to reinstate its momentum.
- An approval of ProShares Trust's XRP ETF launch on April 30 or Hashdex's announcement of an XRP ETF on the Brazilian stock exchange could act as the catalyst necessary for XRP to break above the daily SMA 50.
- If XRP does manage to surpass the daily SMA 50, it might initiate a bull run aiming for $3, but if it fails, the price could slide to lower levels such as $2 or even below.
- As of April 2025 current price levels, XRP trades around $2.36, with potential for brief excursions outside the range of $1.90 to $3.00.
- The Relative Strength Index (RSI) is currently neutral at 42.28, indicating potential for price movement in either direction.
- Long-term predictions suggest XRP could potentially reach $120 in the longer term, with factors like ETF approvals, market sentiment, and significant news events playing a role in its price movement.
