The cryptocurrency market continues to experience a correction, especially among altcoins. Ethereum has seen a significant drop, while XRP is starting to show signs of recovery.
Market Correction in Cryptocurrency
In the first quarter of 2025, Ethereum (ETH) lost 56% of its value, marking one of the worst performances since 2018. This correction has affected many altcoins, including XRP, which has dropped 12% in the last 90 days. However, recent statements from U.S. President Donald Trump about a 90-day tariff pause have supported the market, triggering price increases.
Comparing XRP and Chainlink
XRP's charts are starting to resemble the price behavior of Chainlink (LINK) before its significant rise in late 2024. XRP is forming a 'head and shoulders' pattern, similar to LINK. It has bounced from a crucial demand zone near $1.54 and reclaimed the $2.00 level. The MACD indicator is printing a bullish crossover, which also signals potential upward movement.
Outlook for XRP
The current chart formations suggest that XRP may undergo further consolidation before a significant breakout. If the price surpasses the resistance level at $2.17, it could pave the way for a larger rally, potentially reaching $3.50 and beyond. Technical indicators are aligning, creating a sense of optimism among traders.
Given the current trends and chart formations, XRP might be on the verge of significant movement. Historical parallels with Chainlink and current technical signals foster optimism among traders.
