Fun

Is An XRP Price Explosion Imminent? Crypto Analyst Sets $11 Target

News Feed - 2025-01-05 08:01:44

Este artículo también está disponible en español.


The cryptocurrency market seemed to be in its recovery phase over the past week, with most large-cap assets recording significant gains to close the week. Specifically, the XRP price performance was the cream of the crop, with the altcoin showing strong signs of resurgence.


The XRP token has picked up this year from where it left off in 2024, posting double-digit profit over the previous week. This single-week performance helped push the altcoin to become the third-largest cryptocurrency by market capitalization, displacing the USDT stablecoin. Can The Price Of XRP Soar 350% In 2025?


In a recent post on the X platform, crypto analyst Ali Martinez shared an interesting analysis of the XRP price that captures the altcoin’s potential trajectory over the next few months. According to the crypto pundit, the third-largest cryptocurrency could be on track for a rally to around $11. Related Reading MARA CEO Advocates “Invest And Forget” Approach To Bitcoin, Citing Strong Historical Performance 1 day ago


The reasoning behind this prediction is the formation of a “massive” bull pennant price pattern on the 12-hour chart. A pennant is a technical analysis pattern characterized by a price spike (the flagpole) followed by a consolidation range with converging trend lines (the pennant) followed by a price breakout in the same direction as the initial flagpole.


The pennant pattern looks similar to a bull flag, except that the latter’s consolidation range looks like a rectangle rather than a triangle. The bull pennant similarly serves as a continuation pattern, indicating the persistence of an upward trend. Source: Ali_charts/X


From the highlighted chart above, the relevant level to watch here is the $2.73 level, which is a significant resistance region. According to Martinez, a price correction to $2.05 is possible if the XRP witnesses rejection around the $2.73 mark.


If the XRP price successfully breaches and closes above the $2.73 level, the altcoin could travel to a new all-time high of $11. This represents an over 350% rally from the current price point. XRP Price At A Glance


As of this writing, the price of XRP stands at around $2.42, reflecting a 1% decline in the past 24 hours. This decline has yet to impact the weekly performance of the altcoin, with the XRP price up by more than 16% in the last seven days. Related Reading Coinbase Premium Index Reaches Two-Year Low At -0.23%: Impact On Bitcoin Price Unveiled 1 day ago


As mentioned earlier, the XRP token now ranks as the third-largest cryptocurrency by market capitalization in the digital asset sector. According to data from CoinGecko, the altcoin boasts a market cap of more than $139.1 billion. The price of XRP on the daily timeframe | Source: XRPUSDT chart on TradingView Featured image from iStock, chart from TradingView

News Feed

US Law Enforcement Directs Paxos to Freeze More Than 11,000 PAXG Tokenized Gold Coins
US Law Enforcement Directs Paxos to Freeze More Than 11,000 PAXG Tokenized Gold Coins According to the blockchain infrastructure company Paxos, the firm has frozen 11,184.38 pax go
Law Firm’s White Paper Claims US Bank Regulators Are Waging a ‘Clandestine Financial War’ Against Crypto Businesses
Law Firm"s White Paper Claims US Bank Regulators Are Waging a "Clandestine Financial War" Against Crypto Businesses According to a recent white paper published by four members of t
rhoToken Successfully Launched on Flurry Finance DApp
rhoToken Successfully Launched on Flurry Finance DApp sponsored Flurry Finance is announcing an exciting development in the world of DeFi, as the successful launch of the rhoToken m
While His Digital Trading Cards Tumble in Value, Trump Says His ‘Cute’ NFTs Were About the Art
While His Digital Trading Cards Tumble in Value, Trump Says His "Cute" NFTs Were About the Art After climbing to a high of 0.79 ether on Dec. 17, 2022, Donald Trump’s non-fungibl
Bitcoin, Ethereum Technical Analysis: ETH Falls Below $1,900 as Markets React to Weakening Chinese Economy
Bitcoin, Ethereum Technical Analysis: ETH Falls Below $1,900 as Markets React to Weakening Chinese Economy Ethereum fell below $1,900 earlier today, as crypto markets continued to
Bitcoin Flashes Buy Signal After Price Closed 2nd Green Month Candle In A Row
Este artículo también está disponible en español. The Bitcoin priceenjoyed its second consecutive green candle in October after closing the month with a 10% price gain. C
Poll: 3 Out of 4 Russian Investors Would Rather Buy Cryptocurrency Than Gold or Fiat
Poll: 3 Out of 4 Russian Investors Would Rather Buy Cryptocurrency Than Gold or Fiat An overwhelming majority of Russian investors view cryptocurrencies as a more attractive invest
Ethereum rally to $3,700? Unlikely, say 2 derivatives metrics
Marcel Pechman10 hours agoEthereum rally to $3,700? Unlikely, say 2 derivatives metricsEther derivatives were unable to maintain elevated levels of optimism, despite the potential spot ETF and recent macroeconomic data.7
Ana Paula Pereira15 hours agoJudge grants SEC request to file motion for appeal in Ripple caseThe SEC has until Aug. 18 to officially file its motion, and the defendants will have until Sept. 1 to respond.10137 Total vie
Zimbabwe to Hike Benchmark Rate to 200%, Central Bank Minted Gold Coins to Act as Store of Value
Zimbabwe to Hike Benchmark Rate to 200%, Central Bank Minted Gold Coins to Act as Store of Value After seeing the country’s inflation rise to 191.6% in June, Zimbabwean mone
China’s Crackdown Spurs Massive Onchain Transfers, Cold Wallets Move $3 Billion in Bitcoin and 800K Ether
China"s Crackdown Spurs Massive Onchain Transfers, Cold Wallets Move $3 Billion in Bitcoin and 800K Ether Following the latest statements from China’s central bank concernin
SUI Poised For Price Rally? Ascending Channel Suggests Move Toward $2.50
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu