XRP is a fan favorite in the crypto space, ranking as the third-largest cryptocurrency by market capitalization, behind only Bitcoin and Ethereum.
Over the past week, XRP has rallied more than 30%, climbing from a low of $1.61 to a high of $2.24, and is currently trading at $2.09 per token.
With this recent rally, traders and investors are left wondering where the price of XRP might head next.
Will XRP fade back down after catching a bid, or are we in for further continuation? Let’s talk about it.
Don’t Miss:
The Main Issue
There are some significant issues right now keeping prices down—not just in the crypto markets, but across all risk-on assets. Aside from Bitcoin, most cryptocurrencies are considered high-beta assets, meaning they’re more sensitive to shifts in investor sentiment. When risk appetite is low, these assets tend to take the biggest hit.
We’re currently in a period of major uncertainty. While there’s always some level of uncertainty in the markets, this is one of those rare times when even the big players—institutions, hedge funds, and banks—are unsure. And it’s these large players, more than retail traders, who have the biggest influence on market movements.
So, if the big players are uncertain and have a low risk appetite, it’s wise to approach rallies with caution.
Trending: It’s no wonder Jeff Bezos holds over $250 million in art — this alternative asset has outpaced the S&P 500 since 1995, delivering an average annual return of 11.4%. Here’s how everyday investors are getting started.
Dissecting The H4 Chart
On the H4 chart, the structure has shifted toward a more bullish trend, moving away from the bearish trend we’ve seen over the past few weeks. Of course, this doesn’t necessarily mean XRP is heading straight back to all-time highs, but it could indicate the potential for a short-term rally.
Key things to watch here include the continuation of higher lows on the H4 chart. As of April 16, that trend is still intact, but it’s important to monitor it closely. Another factor to watch is how the market trades around previous highs.
The current high sits at $2.24. If XRP breaks above this level aggressively while maintaining its bullish structure, it could signal strong bullish momentum and control—something the bulls will want to see.
