XRP is trading at $1.3764 on May 1, up 0.66%, as it reaches the apex of a symmetrical triangle that has been tightening since the February low at $1.1100. The daily chart shows the SuperTrend indicator (SAR) at $1.4606 and the MACD crossing bullish above zero, suggesting potential upward momentum.
Polymarket traders give 34% odds that XRP hits $1.40 today and 28% odds it closes at $1.35, reflecting a near-even split on short-term direction. Meanwhile, Ripple CTO David Schwartz rejected the $10,000 XRP theory, arguing that rational investors would already be pricing that expectation in if it were realistic.
Market analyst Crypto Cipher notes that XRP is at a technically critical juncture, with $1.47 identified as the crucial resistance level XRP must reclaim to keep the bullish structure intact and unlock further upside momentum. ETF inflows topping $1.3 billion have strengthened sentiment across the market, signaling that institutional demand remains firm, though this capital has not yet driven a clear breakout in price action.
XRP recently attempted a breakout from the symmetrical triangle, but momentum faded quickly, leading to a rejection. Attention has shifted to the downside, with $1.35 acting as key support. A sustained break below this zone could undermine the current structure and trigger a deeper retracement. Binance leverage levels have fallen back to early-2024 ranges, often seen as a reset after periods of excessive speculation, fueling debate among the XRP Army about a potential 6x rally similar to previous moves.
Bottom line: XRP remains locked between support at $1.35 and resistance at $1.47. Until either boundary breaks with conviction, market participants are likely to stay defensive, waiting for the chart to confirm direction.
