XRP Price Recovery Shows Promise but Faces Critical Resistance Ahead

On April 15, Ripple announced the integration of its RLUSD stablecoin into the Ripple Payments platform, aiming to raise the bar for institutional-grade stablecoin transactions.

Despite the rollout, the news didn’t spark an immediate rally in XRP’s price.

Still, XRP continues to trade within a bullish wedge pattern that’s been in place since the start of the year.

With the price now testing the upper resistance trendline, all eyes are on whether XRP can break out and push past its cycle high.

XRP’s Bullish Pattern

The XRP price has fallen inside a descending wedge pattern since its cycle high of $3.40 on Jan. 16.

XRP’s downward movement led to a low of $1.61 on April 7, causing a breakdown from the $2.05 horizontal support area.

However, XRP bounced (green icon), validating the wedge’s support trend line and moving above the $2.05 resistance area.

Today, the XRP price trades at the wedge’s resistance trend line, aiming to break out. If it does, the next resistance will be at $2.55.

Technical indicators do not confirm whether this breakout will be successful.

The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are increasing but below their bullish thresholds at 50 and 0, respectively.

So, the daily time frame alone cannot predict whether the XRP price will break out from its bullish pattern.

Will XRP Break Out?

The wave count suggests that XRP will not break out from the wedge on the first try.

The price could be completing a five-wave decrease (red), a leading diagonal, hence its wedge shape.

If the count is accurate, the XRP price is nearing the top of wave four, after which another drop is likely.

The most likely area for the end of the correction is at $1.53, a horizontal and a Fibonacci support level.

Alternatively, a breakout from the wedge will invalidate this count. If that happens, the XRP price will have completed its correction and move to new highs.

Key Resistance Ahead

The XRP price has increased since April 7, reclaiming a previously lost horizontal support level and reaching the resistance trend line of a bullish pattern.

Despite the recovery, the wave count suggests that the breakout attempt will be unsuccessful, and XRP will create another low near $1.55.

Nevertheless, the technical analysis does not confirm the direction of the future trend, meaning an XRP breakout and breakdown are possible.

About the Author

Valdrin Tahiri

Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.

He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.

Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.

He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.

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