crypto.news 2025-04-14 14:52:45

XRP price recovery hits resistance, raising bull trap concerns

Ripple has staged a double-digit recovery in the past seven days, jumping over 30% from its lowest point this month. Ripple ( XRP ) price climbed to a high of $2.25 on Sunday, April 14, as it attracted renewed buyer interest following a steep drop earlier this month. The token’s rebound has been driven by growing hopes that former President Donald Trump will ease up on tariffs. Last week, he paused several of his reciprocal tariffs on goods from over 70 countries. Over the weekend, he added that smartphones would be exempt from any tariff increases. At the same time, market reacted to the recent filing by the SEC and Ripple Labs to suspend appeals and pursue a negotiated agreement. This new development came a few weeks after the SEC ended its lawsuit against the company. Further, XRP price rose slightly after Ripple acquired Hidden Road in a $1.25 billion deal. In a statement, a Ripple executive hinted that they would seek to transfer Hidden Road’s $10 billion in daily volume to the XRP Ledger. You might also like: Strategy scoops up 3,459 more Bitcoin in $286m move XRP price rally faces crucial resistance XRP price chart | Source: crypto.news Despite the recent rally, XRP now faces a key technical test after running into resistance at the 50-day Exponential Moving Average. Historically, XRP has struggled to break above this level. Adding to the concern is the appearance of a small evening star candlestick, a bearish reversal signal characterized by a small bearish body and narrow upper and lower shadows. Notably, the upper shadow aligns with a descending trendline that connects the highest swing points since January 16. It also touches the upper boundary of the red descending channel on the chart—another technical warning that a potential retreat toward the lower end of the channel could follow. Meanwhile, as crypto.news has written before , XRP has been forming a head and shoulders pattern, whose neckline is at $1.955. H&S is one of the most bearish patterns in technical analysis. Therefore, further upside will only be confirmed if XRP breaks decisively above both the 50-day EMA and the upper side of the descending channel. A full bullish breakout would require a move above the right shoulder of the H&S pattern, currently at $3.40. On the flip side, a drop below the $1.955 neckline and this month’s low would validate the bearish H&S formation and likely trigger further downside. You might also like: Ai16Z’s ‘anti-pump’ launchpad for AI tokens will be released this week

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