April could be a pivotal month for the XRP price, as a crypto analyst predicts significant price swings before a potential breakout. According to the analyst, the altcoin is expected to test lower and higher ranges before experiencing a final blastoff to new highs.
Roadmap To XRP Price Final Blast-Off
Crypto analyst Egrag Crypto has released a new post on X (formerly Twitter), predicting XRP’s price movements in April. The analyst has stated that the asset will likely retest lower support levels to form a downward wick before bouncing back.
The red arrows and boxes in the chart showcase the downside testing zones, suggesting that wicks formed here could push XRP to a new low range between $1.90 and $1.79. Notably, this price low, indicated by the green zones on the chart, represents a potential support zone for the altcoin. Egrag Crypto has also disclosed that the projected decline is expected to be a “wicking process”, meaning a temporary dip before a quick price recovery.
Following the downward wick, XRP is anticipated to retest upper ranges between $2.80 and $3.00, as indicated by the blue box in the chart. This level serves as a key resistance zone, where buying pressure could determine whether the altcoin achieves higher price levels or continues consolidating.
Egrag Crypto has also stated that this upward retest will be another wicking process for XRP. As a result the analyst has predicted that the cryptocurrency could see a 62-70% surge from the lowest point of the downside wick. This means that if the asset declines to $1.79 and rebounds after, a move toward a target above $2.92 could be in play.
However, Egrag Crypto also warns that the market is still in a “boredom phase”, where price action may appear slow due to sharp declines caused by market volatility. Nevertheless, the crypto analyst remains optimistic in the long run, projecting a “surprise” breakout once this boredom phase concludes. He concluded his analysis by suggesting that after a final revisit to the $2 region, XRP could enter a blast-off phase, potentially targeting even higher levels above $3.2 in the coming months.
Analyst Projects New ATH Target For The Altcoin
In other news, a crypto market expert known as ‘Steph Is Crypto’ on X has set a new bullish all-time high target for XRP. The analyst revealed that the altcoin is bouncing from current levels, suggesting that momentum is building for a potential price breakout.
If this trend continues, XRP could push toward higher resistance levels, possibly surpassing its present all- time high of $3.84 to reach a new target of $4.5. This massive price surge would represent a 125% increase from its current market value of $2.04.
Featured image from Medium, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
