In 2024, XRP experienced a remarkable year, culminating in its highest monthly close ever in December at $2.08. This milestone marked the culmination of a positive start to the new year, as XRP has seen a return of 16.50% over the past three days, setting a promising tone for 2025.
XRP’s Promising Outlook
With market expectations largely bullish in 2025, traders and technical analysts are weighing in on potential XRP targets for the coming months.
XRP ‘Second Wave’ Kicks Off
In November 2024, XRP made a significant breakthrough with a "god candle," shattering a seven-year trend with an impressive 283% rally. The positive conclusion of Ripple’s legal battle with the SEC has contributed to this momentum, fueling analysts’ predictions that XRP will continue its upward trajectory in 2025.
Notably, Mikybull, a crypto trader, observed that XRP’s second wave of the rally is about to kick off. Drawing parallels between 2017 and 2024 on a two-day chart, XRP underwent a 30-day consolidation period, where the Relative Strength Index (RSI) cooled down from an overbought condition to around 57. This was followed by a retest of the 20-day-40-day EMA levels as support bands before exhibiting a strong breakout.
Comparison Chart
XRP analysis by Mikybull
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**2024:**
* Consolition period (30 days)
* RSI cooled down from an overbought condition to around 57
* Retest of the 20-day-40-day EMA levels as support bands
**2017:**
* Similar consolidation period and RSI pattern
* Strong breakout following retest of EMA levels
Similarly, Javon Marks, a crypto investor, outlined another chart pattern that drew striking similarities between XRP’s 2017 bull run and its current price movement. Marks explained that the altcoin’s daily chart displays a series of strengths mirroring its 2017 bull run.
Marks’ Analysis
By previous performance, All Time Highs (>$3.317) and MUCH HIGHER is looking to also be a matter of when, and not if.
Why Is XRP Price Up Today?
XRP’s price movement has been influenced by its historical patterns and analyst predictions.
Bullish Pennant Targets 100% Rise
One particular short-term pattern with a 100% bullish outcome observed for XRP since November 2024 is the bullish pennant. As illustrated in the chart, each time the bullish pennant has taken form, it reached XRP’s Fibonacci extension levels after a positive breakout.
Bullish Pennant Chart
XRP 6-hour chart
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* Bullish pennant observed since November 2024
* Each time the pennant took form, it reached XRP's Fibonacci extension levels
The current setup presents the same outlook, and a successful breakout may lead to XRP reaching its FIB levels at 1.618 and 2.272. A like-for-like rally would result in XRP reaching $5 over the next few weeks, which is 110% of its current price value.
Tony Severino’s Analysis
* Potential bull flag identified on the 1-day chart
* Valid breakout puts XRP's top target at around $13
However, Tony Severino added that XRP at $13 is beyond ideal top targets, but it is not "impossible."
Investment and Trading Risks
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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