coinpedia.org
-
Crypto Market Kicks Off the Week Strong with Bitcoin Gaining Over 7% and Altcoins also posting gains.
-
Analyst warns $XRP could drop to $1.25 unless it breaks above $2.33–$2.45 for a bullish breakout.
-
Another analyst identifies $2.222 as crucial for $XRP’s price action as Monthly Wave 4 nears its end.
The crypto market started this week with fresh gains and Bitcoin recorded gains of over 7%. It jumped above $95,100 early Sunday and the rally came after the U.S. President Donald Trump said he would roll back tariffs on Chinese imports. Bitcoin’s surge was largely driven by $3.06 billion in weekly inflows into U.S. spot Bitcoin ETFs.
Altcoins also fared well, with $XRP up 4%, Solana up 1%, and Cardano up 2% over the past day. $XRP is making headlines as the SEC has approved ProShares’ first-ever $XRP futures ETF, set to go live on April 30. ProShares is preparing to launch three $XRP-tracked products this week after a quiet SEC approval.
The flurry of $XRP ETFs comes after Ripple’s major victory over the SEC in March, which cleared major regulatory hurdles for $XRP.
Analyst Warns $XRP Could Drop to $1.25
Analyst Egrag Crypto, in his latest X post, predicted that $XRP could hit $1.25 in the short term. He explained that $XRP still shows weakness unless it can close above the $2.33–$2.45 range, which would signal a bullish breakout.
Egrag opened up about the importance of the 0.702 Fibonacci level, linking it to a major past breakout. Further, he advised his followers not to chase market gains or panic sell, but instead to keep accumulating $XRP during price dips.
“This is a short-term outlook, and while I am confident we may see double digits in the upcoming months, we first need to dispel any bearish sentiments,” the analyst said.
Even analyst Dark Defender has confirmed that the $2.222 level is still a key point in $XRP’s price action. He mentions that $XRP’s Monthly Wave 4 (a phase in Elliott Wave analysis) is nearing its end.