Trader detects signs that XRP may have bottomed out - Will the price rise to $3.8?

The price of XRP has decreased by 22% from March 19 to March 31, potentially forming a local bottom at $2.02. After that, the price increased by 9% to $2.2 before returning to the current level.

Has XRP reached its bottom or will it retreat further?

XRP Bullish Divergence Across Multiple Timeframes

According to analyst CasiTrades, the relative strength index (RSI) of XRP shows bullish divergence conditions in the lower time frames.

Bullish divergence occurs when the price of an asset creates lower lows while the RSI creates higher lows, indicating that the downward momentum is weakening.

“After reaching a retracement level of 0.786 at $2.05, XRP is printing bullish divergences from the 15-minute chart up to the 4-hour chart,” the analyst noted in a post on March 31.

CasiTrades notes that these signals are positive indicators for both short-term recovery and macro resilience.

“That is the kind of signal we want to see for both short-term and macro bottoms! The recovery has remained strong so far!”

XRP/USD Chart | Source: CasiTradesShe added that $2.25 remains an important resistance level to watch, as breaking this level with strong momentum will signal a convincing bullish breakout.

“If it breaks above $2.25 with strong momentum, that will negate the need to test the support level again, which is a very optimistic sign,” he added that the demand zone between “$2.00 and $2.01 remains the support level if XRP cannot hold $2.05.”

Analysts predict that XRP will have a bullish month in April, with targets of $2.70 and $3.80 in the short term.

“When the price reaches the target, there is expected to be a strong upward momentum! The main resistance levels are linked to $2.70 and $3.80.”

Has XRP reached a local bottom yet?

According to veteran trader Peter Brandt, although XRP has recently recovered from a local bottom, the risk of a deeper correction still remains.

Last week, Brandt stated that the presence of the head-and-shoulders (H&S) pattern could cause XRP to drop to a low of $1.07.

This potential H&S pattern is still ongoing on the daily chart ( as shown below ) and will be completed when the price drops below and closes under the neckline at $1.90.

If the price remains below the neckline, the XRP/USDT trading pair could drop to $1.50 and then down to the target of the pattern at $1.07.

“If it drops below $1.9, the H&S pattern is expected to pull the price back to $1.07.”

Daily chart of XRP/USD with H&S pattern | Source: TradingViewBrandt stated that this bearish chart pattern will be invalidated if buyers push and maintain the price above $3.00.

Meanwhile, the macroeconomic obstacles from the U.S. tariffs on April 2 may cause traders to panic, pulling the price of XRP down to $1.31.

However, analyst Dark Defender has shared a positive outlook, stating that XRP is likely to return to the final Fibonacci level of $2.04 before bouncing back.

According to analysts, the main resistance level for XRP is $2.22, which “needs to be broken” to ensure a sustainable recovery towards the Wave 5 target of $8.

“April and May will be very hot, and the target for Wave 5 is between $5 – $8 as expected.”

XRP/USD Chart – 1 Day | Source: Dark DefenderYou can view the coin price here.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.

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Viet Cuong

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