XRP Technical Analysis: 5 APR 2025
XRP is establishing an inverse head and shoulder on lower time frame. Source: TradingView
General View
XRP is showing early signs of strength after reclaiming the descending trendline. Price is now consolidating above intra-day support near $2.05, with bulls attempting to build momentum for a move higher. Additionally, a potential inverse head and shoulders pattern is in development, signaling a possible shift in market structure. While the upside remains challenging, the current price action suggests bulls are regaining control for a bullish retest.
On The Upside
A breakout from the descending trendline opens the path toward intra-day resistance levels at $2.17 and $2.25. Bulls are now focused on reclaiming this level as a firm break and hold above this point would confirm the inverse head and shoulders structure, likely inviting stronger momentum and opening the path toward $2.40 and $2.60 levels once again.
On The Downside
XRP has reclaimed support at the $2.12 and $2.10 levels, which are expected to provide a base over the weekend. Following recent tests of the $2.05 and $2.00 zones, these levels have further strengthened their significance. For now, as long as the $2.10 support holds, bulls remain in control. However, if this level breaks down, pressure on the $2.00 mark will be back.
Bulls are starting to show strength above the descending trendline resistances. Source: TradingView
