Ripple Price Forecast: XRP eyes 6% breakout amid growing bullish bias

• XRP bulls tighten their grip on $1.45 resistance, aiming for a 6% increase to reclaim the 100-day EMA.
• XRP builds breakout momentum as long bets rise, with Open Interest-Weighted Funding Rate at 0.0066% on Wednesday.
• Momentum indicators remain bullish, with the RSI above the midline and the MACD holding a buy signal.

Ripple (XRP) is gaining traction, pressing into short-term resistance at $1.45 at the time of writing on Wednesday, as sentiment across the crypto market broadly steadies amid the extension of the United States (US)-Iran ceasefire.

Despite neither country having committed to a second round of peace talks, the ceasefire appears to be containing volatility in global markets. Since the ceasefire came into effect on April 8, XRP has increased by 8.5%, underscoring the importance of peace in the Middle East.

The Crypto Fear & Greed Index sits at 32 in the fear territory on Wednesday, up from 23 last week and 8 in extreme fear territory in March. If sentiment continues to improve, risk appetite for risk assets like XRP would increase along with bullish conviction.

XRP steadies rebound as bullish bets surge

Interest in XRP remains elevated, as reflected by the Open Interest (OI)-Weighted Funding Rate averaging 0.0066% on Wednesday. CoinGlass data shows that the perpetual futures metric has stayed in positive territory since April 3, affirming an overall bullish outlook as traders increasingly hold long positions.

In other words, buyers are willing to pay a premium in fees to stay long while expecting an extended breakout. With the OI Weighted Funding Rate moderately positive at 0.0066%, the retail market is neither overstretched nor euphoric, suggesting potential for further upside price action.

Technical outlook: XRP poised for $1.54 breakout as momentum builds

XRP trades above $1.44, holding a neutral to slightly constructive near-term bias. The 50-day Exponential Moving Average (EMA) at $1.41 provides near-term support. Still, the remittance token remains capped below the 100-day EMA at $1.54 and the longer-term 200-day EMA at $1.78. Moreover, a long-standing downward-sloping resistance trend line, with a key break price near $1.68, continues to frame the broader corrective structure overhead.

On the other hand, momentum indicators lean supportive, with the Moving Average Convergence Divergence (MACD) histogram holding modestly above zero on the daily chart and the Relative Strength Index (RSI) around 58, suggesting positive but not overextended upside pressure.

On the topside, immediate resistance lies at the 100-day EMA around $1.54, marking a 6% increase from the prevailing spot price. A sustained break above that area would expose the descending trendline near $1.68, ahead of the more strategic 200-day EMA at $1.78. On the downside, initial support is seen at the 50-day EMA at $1.41. A daily close back below this demand zone would weaken the current constructive tone and open the door to a deeper pullback within the broader downtrend.

(The technical analysis of this story was written with the help of an AI tool.)