Key insights:
- XRP holds above $2.00 as traders await breakout confirmation.
- Analysts target $3.50 following consolidation and bullish reversal signs.
- Regulatory clarity could boost XRP’s institutional and market outlook.
XRP price action continues to draw attention as bulls defend the $2.00 level. With consolidation tightening, analysts now target a breakout toward $3.50 in April.
The token traded at $2.05 at press time, gaining 1.5% on the day. XRP has hovered near this level for weeks, forming what many see as a springboard for the next rally. According to several independent analysts, the setup could drive XRP price to $3.50 or higher.
XRP Price Holds Key Support Amid “Boredom Phase”
Egrag, a technical analyst tracking XRP on a monthly chart, said the asset remains stuck in a “boredom phase.” In his post, he mentioned that the current range indicated the possibility of a wick move during April. This move could drop to $1.90–$1.79 or rise to $2.80–$3.00.
“We will also test the upper range at $2.80–$3.00, which will also be a wicking process,” Egrag wrote on X, formerly Twitter. His analysis suggested the market may test both extremes before deciding on the monthly close.
The most optimistic forecast from Egrag points to a 62–70% upside rally from the $1.79 level. He added that many traders have lost interest post-SEC ruling. They called the current market condition “mentally exhausting.” However, he urged long-term holders to stay patient.
Analysts Watch $2.00 as Breakout Zone Tightens
On the daily chart, XRP price continues to consolidate above the $2.00 horizontal support. The area has acted as a key demand zone since early March, according to the TradingView chart.
The Ichimoku Cloud showed bearish pressure. However, XRP remains above the lower cloud boundary.
RSI sits around 38.87, indicating the token is near oversold territory. If bulls flip the $2.23–$2.44 range into support, upside momentum could strengthen.
Crypto trader and analyst DaCryptoGeneral said on X that XRP price is still “holding strong” above the breakout zone. He added,
$3.50 and Beyond: Can XRP Price Repeat Past Highs?
Another analyst, Setupsfx, sees further upside. In a TradingView post, he argued that XRP has entered a “bullish reversal phase” with a short-term target of $3.50. He noted that the price recently bounced off its local bottom of $2.00 and has now reclaimed $2.20.
“The breakout from the falling wedge confirms a bullish reversal,” Setupsfx said. He added that holding above $2.14 may open the way toward $2.50 and eventually $3.50. A sustained break above $4.00 would suggest a longer-term uptrend.
He also pointed to improving market structure and RSI recovery, now at 46.74, suggesting building strength.
Regulatory Momentum Adds to Bullish Case
Part of the bullish sentiment stems from upcoming stablecoin legislation. Congress is expected to review a bill in early April, potentially laying a regulatory foundation for Ripple’s stablecoin RLUSD.
Setupsfx said this development could benefit XRP due to Ripple’s continued institutional push. In previous cases, like Bitcoin and Ethereum, regulatory clarity has triggered strong rallies. Traders are now speculating on a similar outcome for Ripple-backed assets.
Still, the legislation’s impact remains uncertain. While optimism persists, traders await a clear technical breakout before committing to bullish bets.
XRP’s current consolidation above $2.00 has created a battleground between patient bulls and cautious sellers. Analysts like Egrag and Setupsfx agree that the token could soon leave its “boredom phase” behind.
With resistance clustered between $2.21 and $2.44, XRP needs a clear breakout to validate the bullish thesis. A successful rally of XRP price toward $3.50 hinges on volume and sentiment flipping.
For now, XRP’s fate rests on whether bulls can push past the ceiling—or if bears drag the price back to $1.90.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Moses K is a crypto journalist covering markets, regulation, and blockchain trends. He has written for The Coin Republic, Coinchapter, Cryptopolitan, Cryptotale, Coinspeaker, and MPost. Known for his concise, data-driven reporting, Moses focuses on price analysis, on-chain metrics, and policy developments shaping the global digital asset landscape.