Cryptocurrency is a high-risk asset class, and investing carries significant risk, including the potential loss of some or all of your investment. The information on this website is provided for informational and educational purposes only and does not constitute financial, investment, or trading advice. For more details, please read our editorial policy.
XRP Price Analysis: Key Levels to Watch as Bullish Momentum Builds
January 16, 2025 16:30 2 min. readWe may earn commissions from affiliate links or include sponsored content, clearly labeled as such. These partnerships do not influence our editorial independence or the accuracy of our reporting. By continuing to use the site you agree to our terms and conditions and privacy policy.
Cryptocurrency analytics firm Makrovision has spotlighted XRP’s recent surge, noting that the coin’s price movement aligns closely with their bullish projections from late December. Since breaking out of a consolidation phase, XRP has soared over 40%, nearing critical historical price levels.
Makrovision’s December 30 analysis highlighted a bullish flag pattern, with XRP consolidating around a support level of $1.96. The firm anticipated a breakout above $2.65, signaling the beginning of a significant rally.
True to their forecast, XRP shattered the $2.65 resistance on January 15 and climbed above $3 – a level it hasn’t reached in years. This puts XRP within striking distance of its January 2018 high of $3.35, a landmark in its price history.
Looking ahead, Makrovision has identified key zones to watch. On the upside, the $3.35 to $3.46 range presents a major resistance level. A decisive move beyond this barrier could open the door to Fibonacci targets at $3.88 and $4.42. On the downside, $2.65 now serves as a critical support level. Holding this area could sustain the bullish momentum, but a drop below it would likely prompt a reassessment of the trend.
Commenting on XRP’s performance, Makrovision expressed confidence in its trajectory: “XRP has perfectly followed our bullish scenario, and we see the potential for it to continue climbing above $3.35.”
More from XRP Analysis
XRP Eyes Further Gains as Investor Activity Picks Up
XRP has caught the attention of investors lately, thanks to a strong price jump over the past seven days. Now trading near $2.28, the asset’s growth comes alongside a broader market rebound that’s reigniting optimism across the crypto space. A major factor behind XRP’s recent strength appears to be a surge in new wallet creations. […]
XRP Stuck Between Key Levels as Market Awaits Breakout or Breakdown
XRP is currently navigating a pivotal moment, according to a new report from crypto analytics firm MakroVision. While the broader downward trajectory hasn’t reversed, the asset appears to be entering a phase of consolidation. Analysts at MakroVision highlight that XRP is struggling to decisively move beyond a key resistance zone between $2.19 and $2.30. This […]
Can XRP Overcome Resistance, or Is a Drop to $2 Next?
XRP, one of the top altcoins by market cap, held steady around $2.35 on March 27, despite mounting selling pressure. Traders have poured nearly $400 million into short positions over the past month, creating a barrier that has kept the price from breaking higher. With April approaching, the question is whether XRP can overcome this […]
Analysts Predict Massive XRP Surge – Could Triple Digits Be Next?
Analysts are making bold predictions about XRP’s future, with XRP Captain suggesting it could hit triple digits this cycle, though he provided no clear timeline or catalyst. Egrag Crypto expects XRP to reach double digits now and triple digits in the next cycle, while Dark Defender sees a potential surge to $333 if history repeats. […]
Popular News
-
1
XRP Makes Strong Comeback in Recent Rally – Is the Bullish Trajectory Sustainable?
15.07.2024 16:00 2 min. read -
2
XRP Price Analysis: Key Levels to Watch as Bullish Momentum Builds
16.01.2025 16:30 2 min. read -
3
XRP Targets $10 Amid Consolidation, Key Resistance Levels in Focus
28.01.2025 15:00 2 min. read -
4
XRP May Be Heading for a Major Price Surge – Here is Why
30.07.2024 13:37 1 min. read -
5
XRP Struggles Against Bitcoin as Developers Shift to Other Blockchains
09.09.2024 9:00 2 min. read