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Ripple (XRP) Price Predictions for This Week

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xrp_price_chart_0403261

XRP downtrend resumes. Can buyers put a stop to it?

Ripple (XRP) Price Predictions: Analysis

Key support levels: $1

Key resistance levels: $1.4

XRP’s Downtrend Resumes

After the price spiked in both directions, sellers appear to have gained the upper hand, as they managed to defend the $1.4 resistance, which is currently preventing bulls from regaining the initiative.

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At the time of this post, XRP is struggling to hold above $1.35 and may retest the $1.28 level, which briefly halted the downtrend last week.

xrp_price_chart_0403261
Source: TradingView

Bears Have the Initiative

With the past two weekly candles closing in red, sellers have full control over the price action right now. This makes the outlook bearish and may open the way for XRP to fall all the way to $1. This is the most important support level on the chart.

Buyers could return around $1.2, but it is too early to say if they will manage to reverse the downtrend there since any weakness could encourage sellers to increase their pressure.

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xrp_price_chart_0403262
Source: TradingView

MACD Wants to Reverse

The MACD is already bullish on the daily timeframe and is signaling a potential reversal on higher timeframes, such as the 3-day view. The histogram is making higher lows and appears ready to move to the positive side.

If the 3-day MACD crosses bullish, buyers will have a clear opening to regain control of the price and begin a relief rally. That will be confirmed if they manage to turn $1.4 into a key support later on.

xrp_price_macd_chart_0403261
Source: TradingView
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Crypto World

Bitcoin Rebounds 4% on Iran Ceasefire Hopes but Faces $72K Resistance

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Bitcoin Rebounds 4% on Iran Ceasefire Hopes but Faces $72K Resistance

Bitcoin (BTC) rose back above $71,000 during the early Asian trading hours on Wednesday after Trump’s administration offered a 15-point plan to Iran to end the war, sparking short-term optimism across risk assets.

Key takeaways:

  • Bitcoin bounces 4% to $71,500 after President Trump sent Iran a 15-point proposal aimed at ending the war. 

  • Bitcoin faces stiff resistance above $72,000. 

Bitcoin jumps 4% on ceasefire hopes

Data from TradingView showed BTC price rose as much as 4% to an intraday high of $71,300 from Tuesday’s low of $68,890, recouping all the losses incurred the day prior.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

The price reacted to news that the US, through the primary intermediary Field Marshal Syed Asim Munir (Pakistan’s Chief of Army Staff), has sent Iran a 15-point plan aimed at ending the war.

The key elements of the plan include: a temporary ceasefire with calls on Iran to dismantle or severely limit its nuclear program, suspend its ballistic-missile work, and the full reopening of the Strait of Hormuz for safe maritime traffic.

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Source: X/The Kobeissi Letter

Meanwhile, Iran continues to deny any ongoing talks as ​​Trump delayed his self-imposed deadline for Tehran to reopen the Strait of Hormuz.

Following the news, WTI crude oil dropped 5.75% to $87 per barrel, while Brent crude shed 6% to trade at $98.

Oil prices table. Source: Oil Price.com

Gold extended yesterday’s gains, now up 2.53% on the day to trade at $4,561 at the time of writing.

This move eases inflation fears tied to disrupted shipping through the Strait of Hormuz, positively impacting risk assets, including Bitcoin.

Analysts noted the swift repricing, with Coinlore saying that Bitcoin is now acting as a “real-time sentiment instrument for global risk.”

CryptoQuant analyst Axel Adler Jr said that BTC will “likely remain headline-driven” until the US and Iran send a “public de-escalation signal.”

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Bitcoin price faces “rough times ahead”

Despite the rebound, BTC’s upside appears to be capped at $72,000, where the 50-day exponential moving average (EMA) and the upper trend line of a symmetrical triangle converge.

A break above $72,000 would confirm a bullish breakout from the triangle, toward the measured target at $92,400, 30% above the current price.

BTC/USD daily chart. Cointelegraph/TradingView

Glassnode’s cost-basis distribution heatmap reveals concentrated supply and resistance between $72,000 and $74,000, where investors acquired roughly 380,000 BTC over the last 30 days. This indicates that sellers could aggressively defend this zone.

Bitcoin cost basis distribution heatmap. Source: Glassnode

On the downside, a dense accumulation cluster sits around $65,000, where investors previously acquired 160,000 BTC. 

This level coincides with the lower trend line of the symmetrical triangle, which, if lost, could trigger the next leg lower toward the bearish target of the triangle at $52,500.

Meanwhile, Capriole Investment’s Bitcoin Macro index has dropped to -1.37, levels seen at the depth of previous bear cycles.

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The chart below shows that the metric historically spends a year at or below these valuations before recovering.

“Bitcoin Macro index is in the value zone,” Capriole Investments founder Charles Edwards said in an X post on Wednesday, adding:

“In all prior instances, price went lower into deeper value first before recovering, suggesting we may have more rough times ahead first.”

Bitcoin Macro Index. Source: Capriole Investments

As Cointelegraph reported, traders warn of a second bear flag breakdown that could clear the path for another sell-off below $50,000.