XRP is hovering near $2.28 as April nears its end, with traders watching key technical levels closely. Despite a recent push toward $2.35, the asset has struggled to break through $2.50, a zone now acting as strong resistance.
The 50-day Exponential Moving Average (EMA) around $2.20 is emerging as a critical support level. Additionally, the 20-day EMA at $2.17 has held up in previous pullbacks, making both zones vital for XRP’s short-term structure.
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Momentum Indicators Signal Weakness Below the Surface
On the daily chart, the Moving Average Convergence Divergence (MACD) shows signs of weakening momentum. Although the MACD line remains above the signal line, the narrowing histogram reflects declining bullish strength. If the MACD crosses below, XRP could shift into a bearish phase.
Bollinger Bands are also indicating possible consolidation. XRP trades close to the upper band, which typically signals overbought territory. A drop below the middle band, defined by the 20-day Simple Moving Average, could trigger a retest of lower bands and push XRP toward $2.17 or even lower.
Source: Tradingview
ProShares XRP ETF Delay Adds Uncertainty to Market Sentiment
Amid this technical setup, confusion over an XRP ETF is adding uncertainty. Earlier speculation pointed to an April 30 launch by ProShares, but this has now been officially denied. Bloomberg ETF analyst James Seyffart and a ProShares spokesperson both confirmed there is no approved ETF launch scheduled for the month.
The misunderstanding originated from an April 15 regulatory filing, which some observers misread as confirmation. According to Nate Geraci from The ETF Store, the upcoming ProShares products will be futures-based, not spot ETFs. This detail is important for traders anticipating direct inflows into XRP’s market.
Meanwhile, technical analysts remain divided on what comes next. While XRP shows resilience above $2.20, any break below this level could invite deeper losses. Conversely, a sustained move above $2.50 might renew bullish momentum into May.
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