XRP Price Outlook: Traders Anticipate Relief Rally with Eyes on $2.60 Target
As the cryptocurrency market continues to exhibit volatility, investors and traders are closely monitoring the price movements of various digital assets. One such asset that has garnered significant attention is XRP, Ripple’s native token. With the current market sentiment remaining bearish, traders are eager to assess any potential signs of a reversal. Here’s an in-depth look at XRP’s price prediction for April 6, 2025, and what traders should expect in the near future.
XRP Price Prediction For April 6
XRP is currently struggling to rise above the $2.10 mark and is down by more than 1%. Despite fluctuations, the overarching bearish sentiment continues. Analyst Josh of Crypto World notes a short-term bullish divergence, leading to a relief rally. This pattern has appeared before, resulting in a small bounce or sideways price action for about a week.
Is XRP Set To Rally? Traders Eyes on $2.60
XRP, Ripple’s native token, is strongly holding its key support level at $1.95, even after a major price drop in recent days. The daily chart shows that XRP has retested this level more than eight times, and each time, it has bounced back with strong upward momentum. However, amid the current market uncertainty, XRP’s price has failed to show upside momentum and is consolidating within a tight range. According to expert technical analysis, XRP appears neutral.
April Could Be Decisive For XRP’s Bearish Trajectory
The crypto market is seeking a new breath after a dynamic start to the year, but XRP is sinking into a downward spiral. Ripple’s asset has already lost more than 35% since its January peak, and technical indicators point to a possible worsening. An unfavorable graphic setup, known as an ’inverse cup with handle’ formation, could lead to an additional retreat of 25% this month. In this uncertain climate, XRP appears to be one of the most weakened assets, exposed to increasing selling pressure and a disengagement from major investors.
XRP News: 70% of Binance Traders are Betting on XRP’s Price to Go Long!
XRP, the fourth-largest cryptocurrency by market cap, is heating up as traders bet on a major price surge. Over 70% of Binance traders are holding long positions, showing strong confidence in XRP’s future. Crypto analyst Ali Martinez highlights that if XRP stays above $2, it could gain momentum and soar 30% to $2.60. The 4-hour XRP’s long/short ratio has reached 2.37, indicating that traders betting on price increases significantly outnumber those expecting declines.
