Get Ready for a Sizzling April: XRP Expected to Hit $0.77 - Things You Should Keep an Eye On

Despite a recent slowdown in the bullish momentum across the cryptocurrency market, signs indicate a potential significant recovery for XRP, with price targets reaching $0.77. Analyst Dark Defender suggests an optimistic outlook for XRP, noting a breakout above the $0.6649 resistance on its daily chart and projecting further upward movement, particularly highlighting April as a promising period.

XRP price action analysis. Source:Dark Defender

XRP Price Analysis: Targets Set at $1.33, $1.88, and $5.85 Following Crucial $0.7707 Milestone

According to Dark Defender's analysis, XRP is poised for targets around $1.33 mid-resistance, followed by $1.88 and $5.85 Fibonacci targets in the coming weeks. Before achieving these milestones, surpassing $0.7707 is identified as the next crucial target.

XRP Shows Resilience with Strong Weekly, Monthly, and Yearly Gains

Despite a 2.84% drop on its daily chart, XRP has seen substantial gains over the past week and month, with a 13.72% increase over seven days and a 30.90% gain on its monthly chart. This positive trajectory is further supported by a 10.70% advance since the beginning of the year.

XRP year-to-date (YTD) price chart. Source: TradingView

XRP Derivative Market Activity Declines Amid Regulatory Uncertainty

The reduction in funds entering the derivative market coincides with XRP's recent drop, suggesting investors may be closing their positions. However, ongoing developments, such as the resolution of the legal battle between the SEC and Ripple regarding XRP's regulatory status, could significantly impact XRP's price trajectory. While specific outcomes are challenging to predict, market sentiment is likely to react accordingly.

Anticipation Builds as XRP Legal Dispute Nears Conclusion

The cryptocurrency community eagerly awaits the conclusion of the legal dispute between the SEC and Ripple. While Judge Analisa Torres ruled that retail sales of XRP did not constitute securities sales, the decision regarding institutional trades and potential damages remains pending. The final resolution could influence XRP's price movement, although precise forecasts are uncertain.