XRP Price Rally Faces Resistance, Bull Trap Concerns Rise

Ripple’s XRP token has experienced a significant price rebound over the past seven days, rising over 30% from its lowest point this month. This rally came after a steep drop earlier in April as renewed buyer interest drove the asset to reach $2.25 on Sunday, April 14th. However, XRP now faces crucial technical hurdles as it encounters resistance at the 50-day Exponential Moving Average (EMA). Analysts suggest this could indicate a potential bear trap.