The price of XRP has skyrocketed by an impressive 15% over the past 24 hours, setting the stage for a potential rally above $3. This surge pushed XRP to $2.42, boosting daily trading volume by 120% to exceed $10 billion. The strong bullish momentum comes after XRP defended its critical $2.0 support level, igniting optimism among traders. Analysts now forecast a potential climb to $13 and beyond. Additionally, Ripple CEO Brad Garlinghouse has hinted at new real-world utility initiatives for XRP as we move closer to 2025.
Where Is XRP Heading?
With bullish momentum building, XRP’s daily close above $2.12 confirms the ongoing uptrend. Renowned crypto analyst EGRAG Crypto has identified key resistance levels to watch in the coming sessions—$2.60, $2.65, and $2.75. Breaking these levels could pave the way for XRP to surpass $3.
Adding to the excitement, whale activity in the XRP market suggests potential for sustained momentum. Analysts remain optimistic about XRP’s prospects, with many predicting double-digit price targets and new all-time highs above $10. XRP’s technical setup points to a bullish flag-and-pole breakout, with crypto expert Tony suggesting a possible price target of $13 under a strong bullish scenario.
What’s Behind the XRP Price Rally?
The rally comes as Ripple Labs released 500 million XRP from its escrow wallet with a statement hinting at significant upcoming events. The note accompanying the release stated:
Advertisement Banner
“January 20 approaches. Donald Trump will be back in the White House, and we will make crypto great again!”
Ripple has also pledged $5 million worth of XRP in support of Trump’s inauguration. This follows Ripple’s routine release of 1 billion XRP tokens, with further distributions planned for later today.
These developments have driven strong liquidation events for XRP. According to Coinglass, XRP open interest has surged by 28% to $2.5 billion, while 24-hour liquidations hit $14.38 million, including $12 million in short positions.
2025: A Defining Year for XRP?
As market analysts project, XRP’s bullish momentum may continue into 2025. Factors such as increased adoption, regulatory clarity, and real-world utility programs are likely to support sustained growth. Ripple’s strategic initiatives and heightened institutional interest make XRP a cryptocurrency to watch as it aims for new milestones.
For the latest insights and updates, visit The Bit Journal to stay informed on XRP’s journey and the broader crypto market.
- https://twitter.com/Thebitjournal_
- https://www.linkedin.com/company/the-bit-journal/
- https://t.me/thebitjournal
Follow us on Twitter and LinkedIn and join our Telegram channel to get instant updates on breaking news!
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
