XRP's price action has been dynamic recently. Investors keenly observe its movements, focusing on major support and resistance levels.
Weekly Overview
XRP has been in an overall uptrend, recently hitting a high of $3.02 before pulling back. The 200-week moving average between $1.75 and $1.80 is a critical support level. If XRP stays above this zone, it is likely to continue its bullish path. However, a break below this support could signal a deeper correction.
Daily Chart Analysis
The daily chart reveals a developing head and shoulders pattern, often associated with bearish reversals. If XRP fails to hold above $2.00, the next possible support is near the $1.85 mark, aligned with the 61.8% Fibonacci retracement. If it breaks through the $3.00 resistance, the bearish signal would be invalidated, and XRP could resume its upward trend.
4-Hour Chart Insights
On the 4-hour chart, a rounded bottom formation is emerging, indicating potential accumulation. After bouncing from $2.35 to $2.51, XRP could face resistance between $2.52 and $2.55. A drop below $2.38, however, could trigger a bearish shift, leading to a decline in price.
Predictions for the First Week of April
XRP is likely to trade between $2.40 and $2.65 in the first week of April. A bullish breakout above $2.65 could lead to a test of $2.80. On the downside, selling pressure might drive XRP back to the $2.30–$2.35 range. XRP’s movement in early April will depend on its ability to hold key support and resistance levels. With optimism from the SEC vs. Ripple case resolution, XRP could see further gains.
XRP's price remains a focal point due to its volatility. Analysts pay attention to critical support and resistance levels to forecast future moves.
