Here’s Why April Is a Crucial Month for XRP’s Price: Analyst

The cryptocurrency market kicked off the week with most of the top cryptocurrencies trading on the green, and XRP is among them, exchanging hands at $0.61 at press time.

After analyzing the asset’s monthly chart, Dark Defender – a well-known crypto analyst who commonly breaks down the price action of altcoins – concluded that XRP is poised for a significant price increase. He anticipates that it will break out of its current price range and make substantial gains in April, possibly surging past the $1 target.

April is a Key Month for XRP

Despite XRP showing clear signs of consolidation, the analyst dismissed the idea that XRP is confined to a narrow price range—around $0.60. He states that April is a key month in which a breakout is imminent for the asset.

I think starting this Month, April, a lot of melting faces will be around. We expected this Resistance to be eliminated in April, and the time has come towards. I expect the move towards $1 very soon, which will pave the way for $1.88 $5.85 first.

While the main fear among traders is that XRP will retest and ultimately trade sideways, the analyst remains convinced that it will soon break to $1.88 and $5.85.

Likewise, Dark Defender shared an analysis based on three monthly timeframes of the XRP/BTC pair. “Each candle or price bar is formed in 3 months (3M), and Aril is the start moment of the new bar. (April-May-June will form a new candle)”

Hi all, Today, I’d like to analyze three Monthly Time frames for the #XRP / #BTC pair. Thanks to @MoonLamboio , who reminded me of the update.

Each candle or price bar is formed in 3 months (3M), and Aril is the start moment of the new bar. (April-May-June will form a new candle)… pic.twitter.com/iHDE5jx4Rk

— Dark Defender (@DefendDark) April 7, 2024

Other industry participants observing XRP’s performance share similar thoughts and believe it will witness an explosive upward move. As CryptoPotato reported , some concluded that XRP needs to break above the $0.75 level to eventually jump to the range of $1 – $1.30