- XRP Targets $2.10 as Bulls Eye Key Breakout
- ETF Buzz Builds as Legal Case Enters Pause
- Volume Climbs 8.48%, Traders Watch $2.23 SMA
XRP is trading near a key resistance level as it hovers around $2.09. Market participants are closely monitoring whether it can reclaim and sustain $2.10. The asset remains in a consolidation range with traders looking for a confirmed breakout.
XRP Holds Key Zone as Price Consolidates Above $2
From the analysis prepared by TradingView, XRP is trading at $2.09, marking a 1.28% increase over the last 24 hours. Trading volume also rose 8.48% to $3.35 billion, showing growing interest despite cautious sentiment. The token has held above the $2.00 psychological level for a week, posting a 4.88% weekly increase.
The Relative Strength Index stands at 45.3, reflecting neutral momentum, while the MACD is mildly bearish at -1.8. XRP recently broke below its 20-day EMA of $2.10 and is now attempting to reclaim that level. According to CoinMarketCap, support is noted at $2.00, $1.80, and $1.50, with resistance at $2.20, $2.50, and $3.00.
Technical signals suggest a consolidation phase between the $2.00 support and the 50-day Simple Moving Average at $2.23. If XRP closes above the 50-day SMA, further upside movement may follow. However, a close below $2.00 could lead to a retest of $1.80 or lower.
Legal Pause and ETF Interest Drive Market Focus
According to an observation by Crypto analyst John Squire, institutional activity has increased after the Ripple-SEC case moved toward a potential settlement. On April 10, both parties requested a 60-day pause for negotiations. The U.S. Court of Appeals granted the motion, creating a pause in the legal proceedings.
The change in SEC leadership may be influencing the case’s direction. Paul Atkins, appointed as SEC Chair on April 9, is known for a lighter regulatory stance. This has led to speculation about more crypto-friendly policies.
Ten XRP ETF applications are currently under review. Investment firms like Grayscale and ProShares have expressed interest. If approved, this could introduce institutional inflows similar to those seen in Bitcoin earlier this year.
