XRP Technical Analysis: 1 APR 2025
Ascending trendline support shields the price against any further drop. Source: TradingView
General View
XRP is currently attempting to recover after a prolonged downtrend, with bulls stepping in at a key demand zone around $2.00. The price remains confined within a large symmetrical triangle, with both resistance and support lines converging. Notably, a previous diamond top formation, which signaled a bearish phase, is now being challenged by bulls trying to negate its impact. The ascending trendline support remains intact, but buyers need to sustain momentum to prevent further breakdowns.
On The Upside
XRP is challenging the intra-day resistance level of $2.15 and is attempting to penetrate past it. If successful, the upside will stretch further towards $2.25 and $2.30 levels. These are the levels that will be difficult for bulls to break on the first attempt, hence, some profit-taking around these levels can’t be ruled out.
On The Downside
XRP’s support at $2.05 to $2.00 did its magic as bulls restricted any XRP from entering a phase of renewed sell-off. The reaction from this support level has made this region even stronger, and for any further decline, a lower remains unlikely as long as this support stands strong.
XRP’s diamond top is getting negated. Source: TradingView
