coinedition.com
$XRP trades at $1.4240 on April 23, with a cup and handle forming on the 4H chart as $XRP spot ETF total net assets cross $1B for the first time and cumulative inflows hit $1.28B.
$XRP Cup And Handle Nears Completion With Handle Resistance At $1.4331
The cup formed from the March 10 low near $1.15, with the base between mid-March and early April near $1.25 to $1.30, recovering to the rim near $1.50 to $1.55 by April 17. The handle has been pulling back into the $1.38 to $1.43 range since then.
All four EMAs compress between $1.3932 and $1.4331. Price at $1.4240 sits above the 100-period at $1.4004 and 200-period at $1.3932 but below the 20-period at $1.4331, which is the handle resistance. MACD sits negative at -0.0022 with the fast line approaching the signal from below. A 4H close above $1.4331 clears the handle and puts the cup rim at $1.50 to $1.55 in view. The measured move from the cup depth projects to $1.65 to $1.70. Losing the 100-period at $1.4004 puts the handle low near $1.38 in play.
$XRP Key levels for April 24:
- 200-period EMA support: $1.3932
- 100-period EMA: $1.4004
- Handle resistance / 20-period EMA: $1.4331
- Cup rim: $1.50 to $1.55
- Measured move target: $1.65 to $1.70
- Handle low: $1.38
$XRP Spot ETF Total Net Assets Cross $1B For The First Time
$XRP spot ETFs recorded $2.42M on April 22, pushing total net assets above $1B to $1.09B for the first time. Cumulative inflows sit at $1.28B. Bitwise was the only product recording inflows that day at $2.42M. Weekly inflows hit $55.39M last week, the strongest week since launch.
Related: Cardano Price Prediction: Funding Cut and Visa Card Launch Set Up Breakout Test at $0.2514
The $1B milestone lands as $XRP holds above the key EMAs on the 4H and the cup and handle setup nears its trigger. ETF demand building at the same time the chart approaches a breakout point gives the setup more weight than prior rally attempts since October.
$XRP Derivatives: Longs Taking Seven Times More Pain As Positions Close
Volume fell 7.13% to $3.06B with OI down 2.60% to $2.58B. Both declining means positions are closing. Long/short ratio at 0.8932 leans short, with Binance accounts long at 2.4602 and OKX at 1.96.
Longs absorbed $2.14M in 24-hour liquidations against $291.75K for shorts. Buyers keep getting stopped out at the $1.4331 handle resistance while shorts go largely untouched. Options OI rose 0.85% to $65.24M, the one number expanding as traders position for the cup and handle resolution.
$XRP Price Prediction: April 24 Outlook
- Upside: 4H close above $1.4331 clears handle resistance and confirms the pattern. Cup rim at $1.50 to $1.55 is the first target, measured move at $1.65 to $1.70 is next. ETF total net assets holding above $1B and weekly inflows above $50M keep institutional demand in the picture.
- Downside: Handle resistance holds, 100-period EMA at $1.4004 breaks on a 4H close, and the handle low near $1.38 becomes the next floor. A close below $1.38 puts the cup base at $1.25 to $1.30 back in view.
Related: Solana Price Prediction: Analysts Flag $87 As Breakout Level As RWA Assets Hit $2B