XRP Price Eyes $3 Following 15% Surge
Highlights
- XRP price has gained 15% in the past 24 hours with daily trading volumes surging 120% past $10 billion.
- Analysts predict a rally to $3 and beyond, supported by Ripple's bullish technical setup.
- On a multi-year chart, a possible bull flag pattern suggests XRP could reach $13.
- Ripple's release of 500 million XRP from escrow includes a special memo.
Ripple’s native crypto XRP has witnessed a strong surge gaining 15% in the last 24 hours while setting the stage for a rally to $3 and above. Today’s XRP price surge to $2.42 comes along with a 120% surge in the daily trading volume reaching over $10 billion showing strong bullish momentum.
The surge comes as the bulls defended the $2.0 support following the recent crypto market correction. Popular analysts predict a surge to $13 and beyond. Furthermore, Ripple CEO Brad Garlinghouse has hinted at working on real-world utility as we head into 2025.
Where Is XRP Price Heading Next?
With Ripple bulls stepping in, the XRP price daily close above $2.12 confirms that the bullish action remains intact for the Ripple cryptocurrency.
Crypto analyst EGRAG Crypto has identified critical resistance levels to monitor in the coming sessions: $2.60, $2.65 and $2.75. Breaking through these thresholds could pave the way for higher price targets, potentially signaling a bullish breakout above $3. Additionally, the XRP whale activity could support the broader momentum.
Crypto analyst Dark Defender also provided insights into XRP’s current price action. With the rally to $2.44, the analyst stated that the new support level is $2.22. He added that a break above the range between $2.67 and $2.72 could pave the way for the rally to $5.85.
Moving into 2025, market analysts remain bullish on the Ripple cryptocurrency predicting double-digit price targets and new all-time highs above $10. With the expectation that the XRP lawsuit will end soon, analysts are overly bullish for the altcoin based on its technical setup.
On a multi-year chart, XRP price is eyeing a breakout from the flag-and-pole pattern. Crypto analyst Tony has highlighted a potential bull flag pattern in XRP, suggesting a target of $13 if the formation holds true. While acknowledging that this level exceeds his primary targets, Tony noted that such a move, though ambitious, is not entirely impossible in a strong bullish scenario.
Ripple Is Betting on Donald Trump’s Swearing in?
With the start of the New Year 2025, Ripple Labs has released a total of 500 million XRP from the escrow but with a special note. The memo for this transfer reads: “January 20th is around the corner. Donald Trump will be in the WH, and we are going to make crypto great again!” Ripple committed XRP worth $5 million for Trump’s inauguration.
Ripple, which routinely unlocks 1 billion XRP tokens, will initiate the second batch of releases later today. Today’s XRP price surge has led to strong liquidations for the altcoin. As per the Coinglass data, the XRP open interest is up by 28% to $2.5 billion, while the 24-hour liquidations have soared to $14.38 million with nearly $12 million in short liquidations.
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