TLDR
- XRP rebounded above $2 after falling to a multi-month low of $1.64 on April 7, rising 15.3% to hit $2.08 on April 9
- The price surge followed President Trump’s announcement of a 90-day pause on reciprocal tariffs (except for China)
- Elliot Wave Analysis predicts XRP could drop below $1 before potentially reaching $20 in Wave 3
- Technical analyst EGRAG Crypto noted a bullish crossover on the XRP/BTC weekly chart, a pattern that previously led to a 958% surge
- If Bitcoin reaches $170,000, XRP could potentially reach $29 based on projected XRP/BTC ratios
XRP has staged a remarkable recovery, climbing above the $2 mark after falling to a multi-month low earlier this week. The price jumped 15.3% to hit a daily high of $2.08 on April 9, following a statement from President Donald Trump that temporarily halted reciprocal tariffs for 90 days.
The rebound comes just days after XRP plunged to $1.64 on April 7 as ongoing tariff tensions caused investors to retreat from risky assets, including cryptocurrencies. Since that decline, XRP made several unsuccessful attempts to recover above $2 before finally breaking through yesterday.
Market analysts have noted that the primary catalyst behind XRP’s surge was President Trump’s announcement. The president issued a statement on April 9 that paused all reciprocal tariffs for 90 days, with the exception of China. During this period, the U.S. will lower its reciprocal tariffs to 10%.
Just a friendly reminder: #XRP is one of the only few coins that has consistently formed higher lows for 7 years, despite relentless backlash.
Also, XRP continues to outpace $ETH in dominance, even in times of market stress. If that’s not strength, I don’t know what is. pic.twitter.com/NVbneHsoWg
— XForceGlobal (@XForceGlobal) April 10, 2025
China, however, was excluded from this measure. Instead, President Trump raised China’s tariffs to 125%, stating the increase was “based on the lack of respect the country has shown the world markets.”
The market reaction was immediate, with major cryptocurrencies soaring on the news. Bitcoin, which had crashed to $74,400 on Monday amid the tariff tensions, rebounded nicely to above $82,000.
Technical Analysis Points to Higher Potential
Several technical analysts have shared bullish projections for XRP’s future price movement. One popular analysis using Elliot Wave Theory suggests that XRP has completed its first wave after rallying from $0.50 to $3.40.
According to this analysis, XRP is currently in Wave 2, which could see the price drop to a buy zone between $1.70 and $1.00. Due to market volatility, there might even be a temporary drop below the $1 psychological level.
The analyst predicts that once Wave 2 completes, Wave 3 could propel XRP to around $20. If XRP achieves this all-time high, its market cap at current supply would reach approximately $1.16 trillion.
The fourth wave would likely trigger a correction to roughly $7 before a final wave potentially pushes XRP to $30. However, such price targets would likely take years to materialize, even with favorable market conditions.
Short-term analysis shows XRP has been trading in a value area between $2.11 and $2.60 from December 2024 to April 2025. If XRP can maintain a position above $2.11, it could potentially rally to test $2.41 or $2.60.
XRP/BTC Pair Shows Promising Signs
Another technical analyst, EGRAG Crypto, recently highlighted a bullish crossover on the XRP/BTC chart. The 55-week Exponential Moving Average (EMA) crossed above the 155-week Simple Moving Average (MA) on February 17, 2025.
This marks only the second time in XRP/BTC trading history that such a pattern has formed. The last occurrence was on May 15, 2017, which preceded a staggering 958.97% surge in the XRP/BTC ratio.
#XRP / #BTC: 55 EMA & 155 MA ($22-$29) but first $1.4:
🟣55 EMA * 155 MA
Has anyone talked about the combination of the 55 EMA and 155 MA on the #XRP / #BTC pair? I doubt it!I know what you are thinking: After yesterday’s Bloody day , and you’re still talking about double… pic.twitter.com/8OYR19epo8
— EGRAG CRYPTO (@egragcrypto) April 8, 2025
Based on this historical precedent, EGRAG suggests a similar explosive run could materialize. If the XRP/BTC pair repeats the previous 958% rally, the ratio would climb to about 0.000171 BTC.
At varying Bitcoin price points, this could translate to different XRP values. For instance, if Bitcoin trades at $97,000, XRP would be valued at roughly $16.5. Should Bitcoin reach $130,000, XRP would hover around $22. At $150,000 Bitcoin, XRP would approach $25, while a $170,000 Bitcoin could push XRP to approximately $29.
These projections depend on both the XRP/BTC ratio maintaining momentum from its February bullish crossover and Bitcoin sustaining its macro uptrend.
At press time, XRP trades at $2.03, having retraced slightly from its recent high. While it remains down 3.35% over the past week and 5.06% over the last 30 days, its 24-hour gains stand at 12.4%.
Bitcoin currently trades at $81,753, down slightly from an earlier intraday peak of $82,743. With these current prices, the XRP/BTC pair stands at approximately 0.000024.
Several factors could impact XRP’s direction in the coming weeks. Bitcoin’s price movements will likely influence XRP, as will macroeconomic developments such as Federal Reserve policy changes. Additionally, any further developments in the U.S.-China trade tensions could affect risk sentiment across cryptocurrency markets.
While long-term price projections of $20-30 may seem extreme given current market conditions, shorter-term targets of $2.41 and $2.60 appear more realistic if market sentiment remains positive.
The next week could see XRP either rally toward these targets or potentially face rejection at $2.11, which might lead to an extended correction toward $1.47.
