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๏ปฟAnjali Belgaumkar
๏ปฟAnjali Belgaumkar
Author
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto โEnthusiastโ but trust me I'm getting there.
- Apr 08, 2025 05:20 UTC
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XRP Price News Today
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XRP $ 2.13 (-0.28%) 
XRP trades at $1.90 after a 6% gain but remains in a descending channel; key resistance lies at $2.15 and $2.66.
Crucial support levels at $1.60 and $1.55 could trigger a bounce, but failure to break $2.17 may lead to a drop to $1.21.
XRP’s price action has been a topic of interest, especially with its current bearish trends across multiple timeframes. XRP has gained more than 6% in the last 24 hours and is trading at $1.90 at the time of writing.
According to experts, XRP is trapped within a descending parallel channel, hinting at a short-term bearish trend. The critical support here is around $1.75, with resistance at approximately $2.66. Additionally, the centerline of this channel, acting as a short-term resistance, sits near $2.15.
Recently, XRP broke below the short-term support range of $1.95 to $2.05. As of now, it’s retesting this area, which could potentially act as new resistance. A confirmed breakout above $2.05 could lead to resistance at $2.15, with further hurdles around $2.24 to $2.30.
Current Market Conditions and Patterns
Currently, XRP is in a corrective phase, moving in an ABC structure. There’s a cluster of support around $1.55 to $1.57, which might offer a temporary bounce. However, the overall trend remains down unless XRP can decisively break above $2.17. If it fails to do so, we can expect further declines towards $1.55, possibly even testing the $1.33 to $1.21 range.
Weekly Perspective: Fibonacci Support Levels
XRP has bounced from the 78.6% Fibonacci retracement level, providing support near $1.60. This level is crucialโif XRP drops below this, the next support could be around $1.30 to $1.40. The resistance levels to watch are near $2 and a strong barrier at around $3.
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FAQs
XRP gained over 6% today due to short-term buying pressure and optimism around Rippleโs legal progress and ETF-related news.
While possible long-term, XRP must break major resistances and gain regulatory clarity before approaching the $20 mark.
Yes 
No 
