XRP (XRP) Price: Token Surges 7% as Bulls Take Control of $2.24 Level

TLDR

Table of Contents

XRP price is up 7% to $2.24, breaking above the 50-day EMA
Crypto expert EDO FARINA suggests holding at least 10,000 XRP tokens for potential financial freedom
Analysts predict possible breakout to $2.70 if XRP maintains support at $2.15
XRP recorded $37.7 million in weekly inflows, now ranking third in year-to-date fund flows for 2024
Technical indicators suggest bulls are gaining control with RSI crossing above 50

XRP (XRP) has shown impressive price action over the past day, climbing 7% to reach $2.24 as broader cryptocurrency markets trend upward. The sixth-largest cryptocurrency by market capitalization has broken above key technical resistance levels, drawing attention from traders and analysts alike.

On April 23, XRP successfully flipped the 50-day Exponential Moving Average (EMA) at $2.19, suggesting a potential shift in market structure. The daily Relative Strength Index (RSI) has crossed above the 50 mark, indicating growing bullish momentum.

Crypto expert EDO FARINA recently shared advice for XRP investors on social platform X. FARINA suggests traders should consider holding at least 10,000 XRP tokens, equivalent to roughly $22,400 at current prices.

According to FARINA, this amount could potentially lead to “financial freedom” if XRP outperforms the broader cryptocurrency market in the coming months.

Several technical analysts have shared optimistic price targets for XRP. Analyst DonAlt expects Ripple’s token to be among the top performers in the current market cycle after bouncing from recent lows.

DonAlt suggests that if XRP maintains support at the $2.15 level, it could fuel a breakout toward $2.72.

Technical Analysis Shows Strength

Chart patterns also suggest potential upside. Ali Charts notes that XRP is forming an inverse head and shoulders pattern, typically considered bullish.

$XRP appears to be forming an inverse head and shoulders pattern, potentially setting the stage for a bullish breakout toward $2.70. pic.twitter.com/LnhRA0zUqV
— Ali (@ali_charts) April 23, 2025

According to this analysis, a decisive break above the pattern’s neckline at $2.40 could confirm a move toward $2.70.

The current RSI reading is at its highest level in nearly two months, further supporting the case for continued upward momentum.

For the rally to gain traction, XRP needs to convert the $2.22 resistance level into support. Multiple daily closes above this threshold would strengthen the bullish case.

Investment Flows Show Growing Interest

Beyond price action, institutional interest in XRP appears to be growing. According to CoinShares’ latest weekly report, XRP recorded inflows of $37.7 million last week while the broader crypto investment products market saw only modest net inflows of $6 million.

This recent performance has elevated XRP to third place in year-to-date fund flows for 2024, with a total of $214 million in net inflows since January.

This stands in contrast to Ethereum, which has experienced outflows for eight consecutive weeks, totaling $772 million during this period.

Regional trends in cryptocurrency investment were mixed last week. United States-based products saw net outflows of $71 million.

European markets maintained a more positive outlook. Switzerland recorded inflows of $43.7 million, Germany added $22.3 million, and Canada contributed $9.4 million.

The divergence in regional investment patterns highlights different approaches to cryptocurrency exposure across global markets.

Bitcoin, still the dominant force in the cryptocurrency market, concluded the week with minor outflows totaling $6 million after experiencing conflicting flows throughout the period.

Short Bitcoin investment products continued their reduction trend, marking the seventh consecutive week of outflows. These products have now seen approximately 40% of their total assets under management withdrawn.

While the XRP price outlook appears positive, traders should remain cautious. The invalidation point for the current bullish thesis would be a loss of the $2.20 support level.

A drop below this threshold could trigger a resumption of bearish trends and potentially lead to further price declines.

For now, XRP bulls appear to be in control as the token attempts to build momentum toward higher price targets.

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