XRP Price Breaks Above $1.35, But Reaching $2 Remains Uncertain

The cryptocurrency market has experienced a significant shift following the recent ceasefire agreement between the US and Iran. This development has led to an improvement in sentiment, causing several major cryptocurrencies to surge in value.

XRP is one of these gainers, having broken above $1.35 for the first time since late March. However, maintaining this momentum and reaching a price of $2 remains uncertain.

To achieve this goal, XRP will need to clear five key resistance levels: the 50-day EMA at $1.40, $1.45 where a significant portion of its circulating supply was bought, $1.60 which has been rejected twice since early January, the 200-day EMA at $1.90, and finally the psychological barrier of $2.

The current ceasefire will only last for two weeks, and analysts warn that if it does not lead to a permanent deal, XRP could fall back below $1.35. For a rally above $2 in April, several conditions need to be met: the ceasefire must turn into a permanent deal, the CLARITY Act must advance, and the Fed must deliver a dovish signal.