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▲ Bitcoin (BTC), XRP/ChatGPT generated image ©
XRP (Ripple) is continuing its upward trend, buoyed by a general market rebound and regulatory expectations, with discussions about its potential to break through $1.50.
According to CoinGape, a cryptocurrency specialized media outlet, on April 14 (local time), XRP rose 2.37% in the last 24 hours to $1.36, and its trading volume surged to $2.81 billion. This increase is largely attributed to the broader market rally triggered by Bitcoin breaking past $74,500.
Indeed, the total cryptocurrency market capitalization increased by 4.09% over 24 hours, reaching $2.52 trillion, with major assets, including Ethereum, which recovered to $2,300, also rising. If Bitcoin maintains above $74,000, altcoins, including XRP, are expected to continue experiencing upward pressure.
Changes in the regulatory environment also stimulated investor sentiment. Discussions on the U.S. cryptocurrency market structure bill, the Clarity Act, resumed in the Senate, increasing expectations for legal clarity. Ripple CEO Brad Garlinghouse sent a positive signal by mentioning the possibility of the bill's passage. Furthermore, a U.S. Securities and SEC meeting scheduled for April 16 is also attracting attention as a market variable.
Institutional fund inflows are also cited as a reason for the surge. Last week, digital asset investment products saw a net inflow of $1.1 billion, with Bitcoin accounting for the largest share at $871 million. XRP also recorded a daily net inflow of $1.46 million, increasing its cumulative total to $1.22 billion, reflecting an expanding investment demand.
Technically, XRP's ability to break through the $1.40 resistance is identified as a critical turning point. The Relative Strength Index (RSI) is around 62, indicating upward potential without being overbought, and the Moving Average Convergence Divergence (MACD) also shows a buy signal. If it breaks above $1.40, further increases to $1.45 and then $1.50 are possible. Conversely, on the downside, $1.35 acts as short-term support, and if it breaks, buying interest is expected around the $1.30 level.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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