XRP is moving in a range, but will things get volatile in April?

The value of XRP has risen marginally over the past 24 hours.
The metrics looked bearish on the token.

Ripple [XRP] was in a consolidation phase at the time of writing, according to AMBCrypto’s analysis. The token did not show much volatility, indicating that investors may have to wait longer for things to turn bullish.

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XRP moves marginally XRP will become volatile, but in which direction?

So we planned to take a closer look at XRP to see if the trend would change in April.

XRP moves marginally

AMBCrypto’s analysis of XRP’s daily chart revealed that the token’s price moved within a range for more than two weeks after its value fell on March 15.

To be precise, after touching $0.72, the value of the token dropped to $0.58. Since then, the price has fluctuated between $0.58 and $0.68.

Source: TradingView

CoinMarketCaps facts revealed a similar scenario. According to the data, the token’s price has only increased by 0.33% and 0.4% over the past seven days and 24 hours.

At the time of writing, it was trading at $0.627 with a market cap of over $34.4 billion.

If XRP manages to break above the $0.648 resistance level in the coming days, we can expect the value to reach the March 2024 high again in April.

To see if that is possible, AMBCrypto therefore looked at the liquidation levels. Our analysis showed that XRP liquidation will increase near that resistance zone.

If the token manages to hold despite the high liquidation, the path to the March high looks quite clear.

Source: Hyblock Capital

XRP will become volatile, but in which direction?

While the liquidation level seemed optimistic, the same cannot be said for XRP’s on-chain metrics.

AMBCrypto’s analysis of Santiment’s data showed that outflows on the exchange fell after peaking on March 27. A similar trend was noticed in terms of the token’s Exchange inflows.

It appears that investors were not actively trading the token at the time of writing. The token’s MVRV ratio also fell in recent days, which was also a bearish sign.

Moreover, XRP’s NVT ratio registered a huge spike late. Whenever the measure rises, it indicates that an asset is overvalued, signaling a price drop in the coming days.

Source: Santiment

Read Ripple [XRP] Price prediction 2024-25

However, XRP’s MACD showed a clear bullish advantage in the market.

The Relative Strength Index (RSI) also registered a slight increase from the neutral reading, which indicated that the value of XRP could move north in April.