XRP (XRP) Price: Bulls Eye $3 Target as Token Bounces from Yearly Lows

TLDR

Table of Contents

XRP is trading at $2.26, down 1% but following three consecutive green daily candles
Price maintains above key EMA support levels at $2.20 and $2.22
Derivatives data shows slight increase in Open Interest but more longs being liquidated
No XRP spot ETF launch will occur on April 30, contrary to earlier rumors
Analysts see potential for breakout above $3 if price exits descending channel pattern

XRP price is holding steady around $2.26 following three consecutive days of gains. The cryptocurrency is down just over 1% on Tuesday, mirroring the broader stability in the crypto market. Bitcoin continues to trade above $94,000, supported by strong ETF inflows and easing US-China trade tensions.

The cross-border remittance token has been trading within a descending channel pattern. Since bouncing from its yearly low of $1.61 on April 7, XRP has shown increased potential for a rally that could take it beyond the $3.00 level.

XRP currently maintains its position above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), which are all sloping upward. This configuration confirms the presence of bullish momentum in the market.

The 50-day and 100-day EMAs provide immediate support at $2.20 and $2.22 respectively. Traders may view any pullback to these levels as buying opportunities.

On the technical front, the Relative Strength Index (RSI) sits at a neutral position of 58.11, which still favors the bulls as long as it remains above the midline of 50. This could enhance the chances of a breakout above the descending channel.

Technical Analysis Points to Critical Support Zones

The daily chart shows XRP respecting key technical levels. If buyers maintain the price above $2.20, the bullish momentum could gather strength. This 50-day EMA has emerged as a critical support zone, while the 20-day EMA at $2.17 has proven reliable during previous market pullbacks.

The Moving Average Convergence Divergence (MACD) indicator shows the MACD line still above the signal line, typically a bullish sign. However, the MACD histogram is shrinking, indicating slowing upward momentum.

Bollinger Bands are tightening around XRP’s price, suggesting an incoming period of volatility. The cryptocurrency is trading near the upper Bollinger Band, which often indicates overbought conditions.

Supply zones at $2.40, $2.80, and $3.00 could present resistance and slow any potential rally. Higher trading volumes on upward moves will be crucial for pushing XRP toward the $3.00 target.

Beyond these levels, chart analyst “Charting Guy” has identified additional resistance at $4.20 on the path to a possible longer-term target of $8.00, though he cautions against unrealistic price expectations.

$XRP looks interesting on 4 hour. over this standard deviation and we likely move up quickly to the next one at the $3 area, then one around $4.20 and the last one at the top around $8.. coincidently my main target this cycle. pic.twitter.com/SlCypUG6fR
— Charting Guy (@ChartingGuy) April 26, 2025

Fundamental Factors Supporting XRP’s Outlook

Several developments could support XRP’s bullish outlook in the coming weeks and months. Ongoing settlement talks between Ripple and the Securities and Exchange Commission (SEC) remain a key focus for investors.

Earlier this month, Ripple and the SEC were granted a temporary stay of the appeals process, allowing for settlement negotiations and enabling the SEC’s commissioners to vote on the matter.

The recent approval of futures XRP Exchange-Traded Funds (ETFs) could help bolster the token’s prospects. However, contrary to some reports, ProShares confirmed there will be no XRP spot ETF launch on April 30.

A Bloomberg ETF analyst and ProShares spokesperson clarified that while a launch is expected in the short to medium term, no official date has been set. The upcoming ETFs will offer exposure to XRP via futures contracts, including leveraged and inverse options.

Ripple’s expansion into the stablecoin market and tokenization services has also improved market sentiment toward XRP.

Derivatives data from Coinglass highlights a slight increase in Open Interest of 0.09% to $4 billion, indicating that new positions are being opened and reflecting growing trader interest.

However, the long/short ratio of 0.9559 currently favors shorts rather than longs, suggesting waning confidence among traders. Over $350,000 was liquidated in long positions compared to approximately $59,000 in short positions in the past four hours.

This imbalance in liquidations suggests bulls are being tested, which could potentially weaken the short-term bullish outlook. The most immediate support remains at the 50-day and 100-day EMAs, with deeper support at the 200-day EMA near $1.98 should selling pressure increase.

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