Ripple's XRP is navigating through a volatile phase, struggling to maintain a crucial support level as the broader crypto market experiences turbulence.
Ripple’s XRP is currently trading at $2.06, showing a 3.21% decrease in the 24-hour trading volume, which totals $11.86 billion. Its market capitalization is valued at $120.14 billion.
The broader crypto market has been experiencing turbulence, with Bitcoin’s dramatic price movement coming into play. After reaching a high of $88,500, the flagship cryptocurrency has faced a sharp retracement, instilling fear into the market and impacting altcoins like XRP.
Moreover, recent geopolitical and economic developments have contributed to market instability. Trump’s proposal for reciprocal tariffs, aiming to generate additional government revenue and ensure fairer trade practices, has sparked concerns over a potential trade war, ultimately impacting crypto price volatility.
However, despite the price fluctuations and macroeconomic pressures, a known crypto analyst, EGRAG CRYPTO, is optimistic about XRP’s price action in April, setting the stage for a large breakout.
The analyst predicts that XRP will undergo a crucial testing phase at both ends of its price range. It is expected to either test the lower levels at $1.79 to $1.90 with a wick or move toward the upper range of $2.80 to $3.00. If the downside wick reaches its lowest point, then we can expect to see an upside rally of about 65% to 70% from there.
Furthermore, EGRAG CRYPTO adds that XRP is still in what many call the “boredom phase,” a period of consolidation before an explosive move. But this phase may soon transition into a strong upward momentum. A final retest of the $2 region could act as a launchpad for the token, potentially leading to a significant breakout in the current cycle.
As the macroeconomic climate continues to influence the crypto sphere, traders are closely monitoring the token’s next major move. Will it be a period of consolidation, a breakout to new highs, or another unexpected twist? Only time will tell what surprises the token has in store as it navigates through this volatile market.
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