XRP shows positive dynamics, reaching the level of $2.13 after a 26% increase in the last week. Investors are focused on a potential breakout in the resistance area of $2.22–$2.25, which could happen in April.
Technical Analysis of XRP
XRP has formed an ascending triangle on the hourly chart with resistance at $2.22. According to analyst Ali Martinez, this pattern indicates rising demand and possible breakout conditions if trading volume increases. The cryptocurrency bounced from $1.85 and is near the 0.618 Fibonacci retracement level, supporting a bullish outlook. Reaching the $2.40 level could be the next target if the resistance is breached.
Key Dates in April
Crypto influencer John Squire noted that April 16 and April 21 are critical dates for XRP. Ripple is expected to file its final response in the SEC case on April 16, which could affect institutional interest in the cryptocurrency. These dates coincide with a lengthy legal battle that has impacted XRP's availability on US exchanges.
Impact of SWIFT on XRP
On April 21, speculation will continue regarding a possible announcement from SWIFT about integrating XRP into its payment system. If confirmed, this collaboration could attract major financial players into the XRP ecosystem and push its price above $3.
Given the positive technical signals and upcoming events, XRP may be on the brink of significant changes. Investors will closely monitor the situation in April.
