XRP Price Prediction: XRP breaks above $1.35 again. Can it rise to $2?

The XRP price has been rejected at $1.35 three times since the end of March, with the crypto falling back to $1.28 each time. It has now broken through and is trading near $1.38 after ceasefire talks between the US and Iran boosted sentiment on the crypto market, with XRP (CRYPTO: XRP) posts its strongest daily move in weeks.

XRP breaking above $1.35 is one thing, but maintaining the momentum and returning to $2 is an entirely different conversation. XRP rose to $2.40 in early January and has not been close to $2 since then. So what needs to happen for the XRP price to convincingly move above $2 again?

What pushed XRP back above $1.35?

18percentgrey / Shutterstock.com

XRP tried to break above $1.35 three times since March and failed each time as the war and rising oil prices continued to dominate the entire market. But a change in the war reversed market sentiment, with Bitcoin surging past $71,000, Ethereum jumping 6% to $2,255, and XRP climbing above $1.35 — its highest level in more than two weeks.

Trump agreed to suspend the bombing of Iran for two weeks after Pakistan stepped in, on the condition that Iran immediately open the Strait of Hormuz. Iran’s foreign minister welcomed the deal, and WTI crude fell from around $113 to below $95 a barrel. Traders who had been short crypto for weeks got the hang of it, with $196.7 million in short positions liquidated across crypto as the market rebounded.

The XRP price is now up 5% to $1.38 as the two-week truce gives the market room to run. And with oil prices falling for the first time in over a month, XRP may finally be starting to respond to its improved fundamentals and Ripple’s progress.

Could the current momentum push XRP to $2?

Travis Wolfe/Shutterstock.com

There are five key resistance levels between XRP’s current price of $1.35 and the $2 target. The first resistance is the 50-day EMA around $1.40. Above that is $1.45, where about 60% of XRP’s circulating supply has been purchased. This is one of XRP’s most critical resistance levels, as most holders who bought there will sell to break even once the price returns to that level.

If XRP can get past $1.45, the next level is $1.60. XRP rose to $1.60 on March 17 when the SEC classified it as a commodity, but selling pressure from underwater holders immediately pushed it back. The $1.60 was rejected XRP twice since falling to $2.40 from the early January run, and breaking that would mean the price finally moves beyond the range it has been stuck in since the war began.

After $1.60, the 200-day EMA is near $1.90. XRP hasn’t traded above that price since late February, and getting back there would mean restoring almost everything the war wiped out. If XRP manages to scale above $1.90, the psychological $2 will be the final hurdle to climb. XRP has not traded above $2 since January and if it manages to break through, it will be the start of a strong rally to higher price levels.

Price Resistance Breakout Signal

$1.40
50-day EMA that XRP has not closed above since March
Confirm the $1.35 breakout hold

$1.45
60% of the supply bought here with great sales pressure
Clear the biggest wall of vendors

$1.60
Rejected twice in March
Escape the streak the war has caught XRP in

$1.90
200-day EMA, where XRP has not traded above since late February
Recover almost all the profits that the war wiped out

$2.00
Psychological barrier that will be a turning point of the rally
The sale from $2.40 is over

The current ceasefire will only last for a two-week break, so it is not a confirmation that the war is coming to an end. If the Strait of Hormuz actually reopens and oil prices fall to pre-war levels, the selling pressure will lift on the entire crypto market, and XRP could push through $1.45, $1.60 and beyond.

Where can XRP realistically reach in April?

If the ceasefire holds and the Strait of Hormuz reopens over the next two weeks, XRP could push through the $1.45 resistance and test $1.60. If the CLARITY Act also clears the Banking Committee at the end of April, which is targeting the Senate after it returns on April 13, then XRP will clear $1.60 and $1.80 as institutional capital will flow back into ETFs.

XRP rally above $2 in April would need the armistice to turn into a permanent deal, the CLARITY Act to advance, and the Fed to deliver a dovish signal in the FOMC meeting on April 28-29. But if the truce ends without a resolution to the war, XRP could drop back below $1.35 to retest the $1.28-$1.30 range it was previously stuck in.