XRP to $2.4? Investors Await Two Dates Like a French Farce!

Ah, XRP! 🎭 The coin that dances like a marionette on the strings of the market. Currently, it pirouettes at $2.12, slipping a mere 1% in the past 24 hours. Yet, over the past week, it has leapt 26%, reclaiming its 20-day EMA at $2.10. Bravo! 👏

But hold your applause, for the true spectacle lies ahead. All eyes are now on April 16 and April 21 — two dates that could either make or break XRP’s future. Will it be a comedy or a tragedy? Only time will tell. 🎭

Technical Setup: The Plot Thickens

According to the ever-watchful crypto analyst Ali Martinez, XRP is forming an ascending triangle on the hourly chart. The resistance level sits at $2.22, while higher lows define the structure’s base, indicating growing bullish pressure. 🐂

A decisive breakout above $2.22 could pave the way for a rally toward $2.40, a level that also aligns with the upper boundary of the parallel channel visible on the chart. 🎯

The Fibonacci retracement levels on the chart confirm this target zone. After bouncing from the 0.382 level at $1.85 and reclaiming the 0.618 retracement near $1.98, XRP has shown technical resilience. 🧮

The 1.0 Fibonacci extension at $2.22 acts as the immediate resistance. Beyond this, the 1.272 level around $2.41 marks the next bullish target, lining up perfectly with Martinez’s outlook. 🎯

Notably, a break above $2.22, coupled with growing anticipation ahead of April’s pivotal events, could trigger rapid bullish momentum toward $2.40–$2.42. 🚀

On the other hand, failure to break above $2.22 might see XRP fall back to the mid-channel support at $2. If sentiment worsens, a dip toward the lower channel boundary near $1.85 remains possible. 📉

April 16 and April 21: The Double Catalyst

Crypto influencer John Squire has spotlighted two key dates that may shift the entire XRP narrative. 🕵️‍♂️

April 16 and April 21 could become the two most important dates in XRP’s history.

And I’m not saying this for hype. I’m saying it because of context, data, and a narrative that’s been building for years.

Let’s start with April 16:

It’s the deadline for Ripple to submit its…

— John Squire (@TheCryptoSquire) April 13, 2025

April 16

A Mixed Bag

Despite the bullish technical setup and narrative catalysts, on-chain data reveals a more cautious picture: 🧐

• Active addresses have plummeted from over 600K to just 28K, signaling declining user activity. 📉
• Network growth has slowed significantly, dropping from 15,000 in January to under 3,000. 🐌
• MVRV ratio stands at 2.35, suggesting holders are deep in profit and might be tempted to sell. 💰
• NVT ratio has gone parabolic at 1,554, hinting at heavy speculative trading rather than genuine network usage. 🎢

These metrics suggest that XRP’s current price strength is more narrative-driven than fundamentally backed, increasing the risk of a retracement if upcoming events fail to deliver. 🎭

April Trends and Long-Term Outlook

According to CryptoRank, XRP has averaged 24.3% gains in April across multiple years. Though it’s currently lagging behind this average, history shows that XRP tends to perform well during this month, especially when bolstered by key developments. 📈

If the bullish catalysts align, XRP could reclaim the $3 mark later in the year. However, the market remains in a fragile state, and without follow-through from real network usage, those lofty targets might stay out of reach. 🎯

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2025-04-14 20:04