XRP (CRYPTO: XRP) has kicked off the week with a 4% gain, following the strong start of other major cryptocurrencies.
Traders and analysts say the recent sideways action could soon give way to a significant bullish breakout.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| XRP (CRYPTO: XRP) | $2.12 | $123.9 billion | +3.7% | -1.5% |
| Bitcoin (CRYPTO: BTC) | $86,903.25 | $1.72 trillion | +3.3% | +2.5% |
| Ethereum (CRYPTO: ETH) | $1,625.29 | $196.3 billion | +3.2% | -3.5% |
Trader Notes: Crypto chart analyst Ali Martinez flagged a volatility squeeze on XRP's 4-hour Bollinger Bands, indicating that a major price move is imminent.
Pseudonymous trader Captain Faibik echoed the sentiment, suggesting now is the time to accumulate XRP ahead of what he expects to be an "explosive" rally. His midterm price target is at $5.
Pseudonymous trader Dark Defender pointed to XRP nearing the end of its consolidation phase, with momentum building inside a tightening range.
Defender sees XRP's bullish structure is intact as the overall crypto markets are charged up as never before. He marks key resistance levels to watch: $2.222 and $2.75. The support levels are $1.88 and $1.60.
Statistics: According to Coinglass, XRP open interest has climbed by 3.9% to $3.3 billion, while derivatives volume spiked 57.3% in the past 24 hours -- a strong signal of renewed trader engagement.
Liquidations over the same period hit $4.12 million, with $2.7 million in short liquidations, suggesting some traders may be bracing for an unexpected breakout.
Community News: On April 18, HashKey Capital announced Asia's first XRP Tracker Fund, with Ripple stepping in as the anchor investor.
The move marks a new phase of institutional adoption for XRP, expanding regulated access to the token.
Following similar funds for Bitcoin and Ethereum, this is HashKey's third tracker product, designed to give professional investors exposure without the challenges of custody or direct trading.
Read Next:
- XRP’s Correction Explained: Key Levels, Sentiment Shifts, and What’s Next
Image: Shutterstock
