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▲ XRP (XRP)/AI generated image ©
Amid a recovery in overall investor sentiment due to the easing of geopolitical tensions between the US and Iran, XRP (Ripple) is on the verge of breaking through a key resistance level, signaling a significant further upward movement, supported by positive indicators in the derivatives market and strong buying pressure.
According to investment media FXStreet on April 22 (local time), XRP is strongly pressing the short-term resistance level of $1.45 following news of an extended ceasefire between the US and Iran, which is curbing global market volatility. Since the ceasefire took effect on April 8, XRP has risen by 8.5%, demonstrating the positive impact of Middle East peace on the market. The Crypto Fear & Greed Index stands at 32, still in the fear stage, but has significantly improved from 23 last week and 8 (extreme fear stage) in March, suggesting a resurgence in preference for risk assets.
Bullish expectations for XRP are also detected in the derivatives market. As of Wednesday, the Open Interest weighted funding rate averaged 0.0066%, maintaining a positive trend. According to CoinGlass data, the perpetual futures indicator has been consistently positive since April 3, meaning traders are confident in price increases and are willing to pay premium fees to firmly maintain their long positions.
The figure of 0.0066% indicates that the retail trader market is not overly overheated, suggesting ample room for further upside. Technical indicators also strongly support upward momentum. On the daily chart, the Relative Strength Index (RSI) is around 58, showing a healthy, not excessive, level of buying pressure.
Additionally, the Moving Average Convergence Divergence (MACD) histogram is hovering above the zero line, sending a strong buy signal and reinforcing the short-term bullish trend. For XRP, currently trading with positive momentum above $1.44, to solidify its rally, it must overcome the 100-day Exponential Moving Average (EMA) resistance near $1.54, which is 6% higher than the current price.
A successful breakthrough of this zone could significantly extend the upward trajectory past the downward trend line near $1.68 to the more strategic long-term resistance of the 200-day Exponential Moving Average at $1.78. However, the primary defense line against a decline is located at the 50-day Exponential Moving Average of $1.41. If XRP fails to withstand selling pressure and closes a daily candle below this support zone, the current positive structure could be significantly weakened, and there is a risk of facing deeper corrections within a broader bearish trend.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*
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