XRP's Recent Price Fluctuations Have Drawn Increased Attention from Market Analysts

XRP's recent price fluctuations have drawn increased attention from market analysts, particularly as the token attempts to stabilize after notable volatility.

Recent price fluctuations of XRP have caught the attention of technical analysts, who are now identifying key pivot points that may determine the token’s next directional trend.

After a prior decline, XRP experienced a surge on April 9, reaching highs of $2.08 before encountering resistance. Following a slight pullback, the token recovered to trade at around $2.24, indicating an attempt at stabilization.

Analyst Casi Trades, known for their insights on technical analysis, shared several crucial support ranges that traders should keep in mind. At the $2.24 level, which is also the 0.382 Fibonacci retracement zone from the recent swing low, the Relative Strength Index (RSI) on multiple chart timeframes triggered bearish signals.

According to Casi, this divergence suggests a possible reversal or cooldown in the bullish momentum as the RSI, which measures the speed and magnitude of price changes, pulled back from overbought territory.

Crucial Support Levels For XRP Recovery

First key support is at $1.90, which aligns with the 0.5 Fibonacci retracement zone. This area is critical for a potential short-term recovery if the market corrects further from the 0.382 Fib. The second more notable level is at $1.55, corresponding to the golden 0.618 Fibonacci retracement. This level also matches the projected Wave 2 correction area based on Elliott Wave Theory, which suggests it could serve as a more significant structural support in the event of a deeper pullback.

In broader terms, Casi advised traders to focus on the bigger market patterns instead of being preoccupied with timing the exact tops and bottoms. She highlighted the importance of preparing potential entry points based on structure and chart patterns rather than reacting emotionally to short-term price movements.

Egrag Crypto Adds Broader Perspective

Another analyst, Egrag Crypto, offered a broader perspective on XRP’s price action. He cautioned that if XRP fails to close above the $2.30-$2.50 range on the five-day chart, a decline toward $1.85 is still possible. However, he emphasized that such a drop does not negate his long-term bullish outlook. Egrag continues to hold higher price targets for XRP, ranging from $7.50 to $13 and $27.

Moreover, Egrag noted the possibility of a broader market-wide liquidation event, which could introduce sudden and sharp volatility into the market. Despite this, Egrag stated that he is not actively trading but is instead accumulating more XRP tokens at specific support levels. He also highlighted how geopolitical and macroeconomic events can exert a strong influence on crypto markets.

As an example, Egrag mentioned the shifts in U.S. trade policy, which have affected market sentiment and direction. He also pointed out how regulatory decisions, such as the recent sanctions on Tornado Cash, can have swift and deep impacts on the crypto sphere.

Lawsuit Resolution May Not Immediately Rally XRP

Beyond technical analysis, community discussions on Telegram have touched upon the pending verdict in the SEC lawsuit against Ripple. A prominent XRP community member, known for the All Things XRP Telegram channel, expressed the opinion that community members might have excessive expectations for a rapid surge in XRP’s price following the lawsuit’s conclusion.

This community member noted that much of the anticipated outcome from the case, especially regarding the implications for the broader industry, has already been priced into the asset’s current valuation. Instead of relying on legal developments to boost value, the community member highlighted that Ripple’s actions post-case will be crucial for driving long-term growth of the XRP token.

This will likely involve expanding partnerships, enhancing the utility of XRP, and increasing institutional adoption. These efforts are expected to drive future price appreciation more sustainably than a legal outcome alone.