Despite the multiple positive regulatory developments, the economy-wide tariff shocks prevailed, sending XRP below its critical support levels near $2 and into an uncertain future.
Fortunately for the token’s holders, it stabilized at approximately $1.75 and headed back into a rally that is now, according to an April 14 X post made by the prominent on-chain analyst Ali Martinez, on track to reclaim $2.40.
Indeed, XRP is, at press time, within an ascending triangle and likely to enjoy a bullish breakout if it successfully breaches a strong resistance at $2.22. Currently trading at $2.16, XRP is only 2.78% away from testing the $2.22 resistance that could help it rally 11.11% and hit $2.40.
Notably, the ascending triangle is a bullish breakout chart pattern that forms when an asset’s price crosses above its upper trendline accompanied by a rise in volume.
How close is XRP to a breakout?
Despite the recent crypto market turmoil that threatened to erase any hopes for a 2025 bull cycle, the token managed to climb 20.11% within the last seven days.
Though the latest performance has been positive, it is worth remembering that XRP remains 34.74% below its $3.31 high on January 17 and is only up 2.81% in 2025.
What’s next for XRP in 2025?
Looking ahead, the token is facing a mix of bullish and bearish factors. To begin with, President Donald Trump’s tariff policy has been a major cause of turmoil for stocks, bonds, and cryptocurrencies alike, and recent developments promise more uncertainty ahead.
Simultaneously, there has been a notable drop in regulatory pressure with the Securities and Exchange Commission (SEC) reaching an agreement with the XRP issuer Ripple Labs, the Internal Revenue Service (IRS) dropping its rules targeting digital assets, and the Department of Justice (DoJ) disbanding its cryptocurrency task force.
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