As the month of April draws to a close, crypto analyst Jason has shared insights into XRP potential price movement in May.
He highlighted a mix of technical patterns, hidden bullish signals, and market updates that could shape XRP’s near-term future. Notably, he shared an optimistic outlook for XRP based on information from the two-week chart.
Technical Patterns Suggesting a Breakout Could Be Near
According to Jason, XRP remains in a familiar consolidation zone. He noted that while the weekly chart has lost its previously noted hidden bullish divergence, the two-week scale still shows signs of strength. Both the Relative Strength Index (RSI) and the Stochastic RSI (SRSI) continue to flash bullish divergence compared to price action.
He explained that if momentum continues and the SRSI crosses above 20 and stays there over the next few weeks, market participants could expect a significant move to the upside.
Despite this positive setup, Jason warned that a breakdown below key levels could shift the outlook. Specifically, the bullish divergence would be invalidated if XRP closes below $2.09 on the two-week scale. In that scenario, XRP could revisit the lower support range around $1.6052 to $1.117, marked on the accompanying chart as the “orange box” zone.
For context, these levels align with the 0.61 and 0.787 Fibonacci levels. Notably, during the most recent downturn earlier this month, XRP tested this range. Specifically, on April 7, XRP touched lows of $1.61 but recently rebounded to $2.36 before losing momentum. At press time, XRP is trading at $2.23, showing a 2.6% dip in the last 24 hours.
Meanwhile, Jason pointed to data showing that XRP has experienced eight consecutive days of net outflows recently. With selling pressure losing steam and flattening out, he believes this could be a sign of market stabilization ahead of the next major move.
How High Could XRP Go in May?
Interestingly, Jason presented the idea that XRP could reach $5 in May. This would mark a new all-time high for the coin, which has traded below its 2018 peak for over seven years.
From today’s price of $2.23, reaching $5 would represent a 124.22% increase. Beyond $5, he expects XRP to approach the double-digit price threshold.
Take Profit as XRP Soars
Speaking further, the analyst shared that he plans to sell 50% of his holdings below $5 to lock in gains and shift focus to hard assets like real estate. While he believes XRP could go even higher, he emphasized the importance of being rational rather than emotional in the market.
He disclosed that he took 20% profits when XRP crossed $3.30 back in January, a price point he had targeted since last year. Jason noted that he made this decision while still believing XRP could soar to between $16 and $36, emphasizing that emotions have no place in strategy.
He plans to hold 10% of his XRP holdings in anticipation that the multi-year ascending trendline could push prices into the projected $16–$36 zone. The lower boundary represents a 6x gain from current levels, while the more ambitious target offers over 15x upside from today’s price.
However, he sees these as longer-term targets and plans to book profits of around $5 in the near term.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
