Key Notes
- XRP has recorded a 7% uptick in its price as trading volume doubled in the past day.
- The token could soon start a Wave 5 breakout in the Elliott Wave cycle, signaling a strong bullish continuation.
- A move above $2.40 could lead XRP to $2.70, says Ali Martinez.
XRP XRP $2.23 24h volatility: 4.0% Market cap: $130.31 B Vol. 24h: $5.84 B is currently trading around $2.22, marking a 7% rise in the past 24 hours. The cryptocurrency’s 24-hour trading volume has also doubled, reaching $4.77 billion — an indication of increased market activity and investor interest.
Crypto analyst Dark Defender recently explained that XRP may be nearing the end of its Wave 4 correction in the broader Elliott Wave cycle on the weekly price chart.
Hi all. As most of you know, I was highlighting the monthly wave structure, and I wanted to give more details on what that looks like from a broader perspective. #XRP is almost coming to an end of this Wave 4 correction. We were discussing a smaller time frame structure offline,…— Dark Defender (@DefendDark) April 22, 2025
According to him, XRP price touched $2.1937, precisely where he anticipated a reversal based on a smaller time frame wave structure. This bounce suggests that XRP could soon enter Wave 5, which typically indicates a strong bullish trend continuation.
Dark Defender added that XRP still has three smaller waves left in lower timeframes and suggested investors monitor the $1.8815 support level.
The critical resistance levels to watch for a structural breakout are $2.222 and $2.40. If breached, he believes XRP could start a strong bull run.
Popular analyst Ali Martinez also provided a bullish outlook. He noted that XRP has been forming an inverse head and shoulders pattern on the 1-hour chart since March 29.
$XRP appears to be forming an inverse head and shoulders pattern, potentially setting the stage for a bullish breakout toward $2.70.
— Ali (@ali_charts) April 23, 2025
Martinez predicts that if XRP successfully breaches the neckline resistance at $2.40, it could break out toward the $2.70 mark.
Meanwhile, data from Glassnode reveals a 67.5% surge in XRP network activity in recent days. The number of active addresses jumped from 27,352 to 40,366 in a single day, suggesting a sustained buying interest.
Last week, XRP investment products outperformed Bitcoin and Ethereum investment funds. This notable shift in XRP-based funds came despite ongoing uncertainty in the broader crypto market and investor sentiment.
XRP Price Outlook
On the daily XRP chart, the price is hovering near the upper Bollinger band, suggesting bullish pressure. A breakout above $2.27 could push XRP toward the key resistance at $2.40 .
However, a drop below the mid-band (20-day SMA) at $2.07 might signal weakness, with support near $2.00 and $1.88.
XRP price chart | Source: TradingView
The RSI currently sits around 56.59, with an upward gradient. This indicates strengthening momentum without entering overbought territory. A continued rise could confirm a bullish breakout, but traders should closely monitor volume for the next move.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
