Analyst: XRP's Key Resistance Turns into Support, Macro Trend Remains Intact

BroadChain has learned that as of 21:48 on April 17, per a report from NewsBTC, cryptocurrency analyst Mattsby highlighted a key chart setup for XRP traders seeking a clear macro view. He emphasized the importance of monitoring the two-month chart with the 20-day Simple Moving Average (20SMA) overlaid. Historically, when XRP trades above the 20SMA, it tends to show bullish momentum and upside potential. Conversely, a sustained position below this level often leads to extended and painful consolidation. Mattsby noted that since November 2024, XRP has been hovering around this critical moving average, with former resistance levels now turning into solid support. This, he explained, is why he remains bullish and believes the macro uptrend is still intact. Another analyst, Chart Nerd, also expressed optimism, pointing out that multi-timeframe analysis suggests XRP is primed for a rebound after months of sustained selling pressure. He identified potential upside targets at $1.54 and $1.87—but only after XRP first clears the near-term resistance at $1.560. However, analyst CasiTrades struck a more cautious tone, warning that XRP remains stuck below resistance, having consolidated below $1.60 for over 68 days without a change in the macro structure. She noted that XRP must soon choose a direction: either decline toward macro support levels at $1.09 and $0.87, or break out and sustain a move above $1.65 to shift the bias to bullish. Until then, she expects price to remain range-bound between $1.28 and $1.39, with a breakdown below $1.28 potentially triggering a test of lower support. According to CoinMarketCap data, XRP is currently trading around $1.43, up over 2% in the past 24 hours.