XRP has gained attention in the crypto market, with forecasts suggesting significant price fluctuations in April. Amid short-term volatility, analysts are observing changes that may impact its future dynamics.
Price Forecasts for XRP in April
Forecasts for XRP indicate possible sharp fluctuations throughout April. Analyst Egrag anticipates a temporary drop to the $1.90–$1.79 range, followed by a potential rise to $2.80–$3.00 by the end of the month. These movements are viewed as brief swings rather than sustained price levels.
Price Drops Amid Trading Volume Surge
Despite positive forecasts, XRP's price has decreased by 3.63% over the past 24 hours, currently trading at $2.04. However, the trading volume surged by 83.93% during the same period, reaching $6.85 billion. This increase in volume occurred against a backdrop of price decline following a brief rally above $2.20 on April 2.
XRP Network Activity and Bearish Signals
According to Glassnode report, XRP's active addresses surged by 490% from recent cycle lows, which significantly outpaces Bitcoin's 10% increase. However, technical indicators on the XRP/USDT chart predict additional bearish movements, including weak buying momentum and a declining MACD structure.
XRP continues to be a focal point in the crypto market, with forecasts of significant volatility in April and increased network activity. However, current bearish indicators warrant careful analysis of future trends.
