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XRP (Ripple), buoyed by the dual tailwinds of unprecedented institutional capital inflow and ecosystem expansion, is steadfastly defending its key support level amidst price corrections and is seeking new upward breakthroughs.
According to FXLeaders, an investment media outlet, on April 23 (local time), XRP is currently hovering between $1.40 and $1.50, after touching $1.50 for the first time in a while earlier this month. Despite a volatile market environment and regulatory delays, it showed remarkable resilience by recording an 8% to 10% gain throughout April, but its short-term upward momentum has recently slowed down somewhat.
The market's biggest concern is undoubtedly the passage of the US cryptocurrency market structure bill, the Clarity Act. Brad Garlinghouse, CEO of Ripple, projected the bill's passage to be delayed from the originally anticipated April to late May. Although the Senate Banking Committee plans to review the bill in late April, unresolved issues such as stablecoins are holding it back, and the probability of passage according to Polymarket has fallen to 55-60%. If this bill passes, XRP could completely resolve long-term regulatory uncertainties and instill confidence in institutional investors.
Despite regulatory delays, institutional buying enthusiasm remains strong. For the week ending April 18, XRP spot exchange-traded funds (ETFs) saw a net inflow of $55.4 million, the largest since 2026. This pushed cumulative inflows past $1.5 billion, with fund holdings reaching 769 million units, and large financial institutions like Goldman Sachs are expanding their exposure. Furthermore, tangible ecosystem momentum continues to strengthen, including integration with Japan's Rakuten, which has millions of users, the launch of the XRP Ledger-based RLUSD stablecoin, and plans to introduce a quantum-resistant ledger in 2028.
Technical analysis also suggests buyers are regaining control. Trading near $1.442 on the 4-hour chart, XRP is stably forming a base above the Fibonacci 0.618 level of $1.411, even after being rejected at the $1.47 resistance. Along with a trend of higher lows following an upward trendline, candlestick charts consistently close above the Fibonacci 0.5 level of $1.430, indicating a market shift from selling to accumulation.
Currently, the 50-period moving average near $1.42 serves as a strong pivot, and the 200-period moving average at $1.38 is well below the price, firmly supporting an overall bullish sentiment. Key short-term resistance levels are at $1.449, $1.472, and $1.509, while $1.411 and $1.384 are expected to act as defensive lines in case of a decline. The outlet recommended a strategic approach: buy if $1.450 is broken, target $1.472, and set a stop-loss below $1.410.
*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*
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