HomePrice PredictionsXRPXRP Battles Resistance After Strong Bounce from $1.66!

XRP Battles Resistance After Strong Bounce from $1.66!

Date:

XRP Technical Analysis: 8 APR 2025

XRP is about to retest primary resistance. Source: TradingView

General View

XRP is currently in the middle of a correction to the upside, driven by a combination of short-coverings and fresh buying interest. Yesterday’s session revealed a key clue as the highest hourly volume was recorded during the session’s lowest candle, signaling strong accumulation at discounted levels. This sharp bounce off the $1.66 Fibonacci support highlights aggressive buyer interest, but it’s important to view this within the broader structure. Price is now approaching a previously broken multi-month support zone, now acting as resistance, which points to a potential bearish retest in progress.

On The Upside

The primary resistance zone lies between $1.93 and $1.96. These are the levels that initiated the recent sell-off. This area is critical and could lead to partial profit-taking or attract fresh short positions. However, if bulls manage to absorb the selling pressure here, XRP could extend its recovery toward the $2.02 level and potentially push further towards $2.10.

On The Downside 

Immediate support lies in the $1.82–$1.87 range, which has now acted as the base for the latest bounce. As long as this support region holds, XRP should avoid any deeper retests. However, a failure to maintain this zone could expose XRP to another leg lower, potentially targeting the $1.66 level marked by the 61.8% Fibonacci retracement.

XRP’s bearish retest is currently underway. Source: TradingView

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Usman Ali
Usman Ali
A writer and market analyst with expertise in cryptocurrencies. He focuses on delivering clear, insightful, and well-structured content, emphasizing advanced trading strategies and in-depth market analysis. His writing style prioritizes clarity and professionalism, ensuring that complex market trends are easy to understand. He is keen on keeping his work organized, direct, and valuable for his audience.

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