XRP is probing critical support levels as the cryptocurrency market struggles with chronic volatility. The digital asset currently trades at $1.98, a daily trading volume of $10.50 billion and market value of $115 billion. Over the last 24 hours, XRP has declined by 7.7%, which mirrors larger market trends.
Bitcoin’s Roller Coaster Affects Altcoin Market
Bitcoin’s recent price move to $81,700 and subsequent sharp pullback has sent ripple effects throughout other cryptocurrencies. The move has sent investors into fear, with pressure on XRP and other alternative digital currencies. Traders are now observing key price levels to see if support will break or hold.
Macroeconomic Factors Add To Market Tension
Political events are creating a second level of unpredictability in the prices of cryptocurrency. In its report, agreed-on retaliatory tariffs by US President Donald Trump– with the aim to increase government revenues and establish what he calls “fairer international commerce” — have spurred fears of an impending trade war. These are some of the reasons behind today’s crypto market volatility.
#XRP – April Candle Formation Forecast
April is shaping up to be a dynamic month where we’ll see tests at both ends of the range. Here’s what to expect:
1⃣ Lows Testing: #XRP will likely revisit the lows around $1.90-$1.79—this will be a wicking process.
2⃣ Highs Testing:… pic.twitter.com/6RqfsLX5OS
— EGRAG CRYPTO (@egragcrypto) April 2, 2025
Analyst Foresees Possible Test Of Lower Support
In spite of the present downward pressure, one market observer envisions potential upside in the future. Crypto analyst Egrag Crypto predicts XRP will enter a testing period, possibly falling to the $1.90 to $1.79 levels before trying to move upward toward $2.80 to $3.00. According to this analysis, if prices hit the anticipated bottom, a rally of as much as 70% might ensue.
Lull Period Pre-Surge
The price history of the cryptocurrency depicts cycles of protracted periods of quietness preceded by explosive bursts. With recent market conditions contributing to a perfect storm of inputs, investors are closely watching price charts for subtle early indications of XRP’s next big move.
RP has tended to catch investors off guard with unanticipated action, and April could be a decisive month for the coin. Traders are bracing for a few different scenarios: more consolidation, a breakout, or a sudden market change.
April May Mark End Of Consolidation
Meanwhile, several market watchers define XRP’s present trend as a period of consolidation that usually precedes considerable price action. According to analysts, this phase could end soon, potentially propelling XRP into more robust positive momentum.
A final test around the $2 level may be used as a springboard for what some expect to be a major breakthrough.
While near-term uncertainty exists, the long-term picture is cautiously optimistic from the perspective of market observers. Technical signals alongside economic fundamentals indicate a phase of heightened price activity in the next few weeks.
Featured image from Gemini Imagen, chart from TradingView