This has turned traders risk-off as they wait on the potential resolution.“Olive Branch or Retreat? ,” trading firm QCP Capital asked in an April 16 Telegram note to investors, arguing that in spite of both sides maintaining a hawkish public posture, cracks were beginning to emerge. QCP Capital pointed out that the White House’s over-the-weekend tariff exemption on tech products (smartphones, computers and chips) was answered by “China’s 'complete cancellation' of their reciprocal tariffs.” “So who blinks first?
Related: XRP price analysts project $10 next, ‘optimistic’ target of $20Meanwhile, crypto analyst CasiTrades said that the lower trendline of the wedge around $2.17 continues to “act as a strong ceiling” for XRP.“As of now, we don’t have a new high or low, so there’s still no confirmation of the next move,” CasiTrades explained, adding:“If this rejection continues to play out, support at $1.90 and $1.55 remains firmly in play.”XRP/USD hourly chart.
This convergence indicates weakening upward momentum. The pattern resolves when the price breaks below the lower trendline, suggesting a potential price decline. XRP is currently testing the support level at $2.00 after the wedge’s lower trendline turned into resistance on April 15.
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Author / Journalist: Cointelegraph by Nancy Lubale
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