XRP Price Nears $2 Breakout: Bulls Target $2.50 as XRP Rebounds in Falling Channel

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As the crypto market witnesses a sudden surge of recovery, XRP is heading at a new positive cycle within a falling channel pattern. As the broader market bounces back, XRP surged nearly 15%, recording a 24-hour high at the $2 psychological mark.

However, the short-term intraday pullback of 3% drops the current market price to $1.98. As the short-term recovery gains momentum, will XRP challenge the overhead trendline at $2.50?

XRP Takes Bullish Reversal in a Falling Channel

In the daily chart, the XRP price trend showcases a bullish sustenance. It showcases a bullish turnaround from a local descending support trendline.

XRP Price Chart

With a bullish engulfing candle, XRP concludes to the 3-day crash to hit the $2.00 psychological mark. However, the 3% intraday pullback drops the current market price to $1.99.

Within the falling channel, the short-term recovery is likely to face opposition from a secondary resistance trendline formed due to the prevailing lower high peaks. As the quick turnaround in XRP gains momentum, bulls are likely to surpass the resistance trendline.

Furthermore, the momentum spike is hinting at a potential bullish crossover in the MACD and signal lines. This will trigger a trend reversal siren. Based on the pivot indicator, the recent downtrend in XRP took a lower price direction from the S1 pivot level at $1.68.

Currently, the recovery run is likely. Currently, the growing possibility of short-term resistance-straight-line breakout is likely to be in the S2 pivot level at $2.33. In the long term, the bulls are likely to challenge the upper boundary of the falling channel pattern close to $2.50.

In case of a bullish breakout, the uptrend will likely surge to the R2 resistance pivot level at $3.47. On the flip side, the crucial support for XRP stands at $1.64.

Whales Dumped XRP During Market Volatility

Despite the sudden turnaround in XRP prices, the market volatility over the past few weeks have resulted in a decline in whales’ confidence. As per a latest tweet by Ali Martinez as a crypto analyst, crypto whales have dumped more than 70 million XRP over the past two weeks.

Whales have moved more than 70 million $XRP in the last two weeks! pic.twitter.com/NagarYuq2J

— Ali (@ali_charts) April 10, 2025

This has dropped the whale holding to 6.55 billion XRP tokens. However, with the recent price recovery, whale holdings are likely to bounce back.

XRP Ledger Slowdown Warns Underlying Weakness

The monthly volume on the XRP Ledger is declining after the November 2024 rally. Since then, the monthly transaction count has dropped from 42.7 billion in November to 16.05 billion in March 2025.

Over the past 10 days, the monthly transaction count in April has stood at 6.36 billion. Amid the declining transaction count, the number of active addresses in the XRP ledger is also taking a plunge.

Compared to the 105.96k peak in December 2024, the active addresses are down at 7.1k on April 9, 2025. This marks a significant drop in activity over the XRP ledger, reflecting an underlying weakness.

Original Article