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The XRP price has surged by more than 10% in the past 24 hours, starting the next rally wave. Analysts have pointed out multiple patterns, including the breakout of the symmetrical triangle model, to forecast a significant momentum and upward price target. Here are the reasons supporting the upcoming upward movement in the coming days. Currently, the XRP price is trading above $2.50, supported by a 75% increase in trading volume. The lowest and highest levels in the past 24 hours were $2.34 and $2.60, respectively.
Breakout is expected for XRP price
Experienced trader Peter Brandt's $500 billion market cap estimate for XRP created significant excitement in the market last week. He emphasized that the break of the XRP bull flag would technically confirm a significant increase in market value by 2025. The breakout in the XRP price chart has occurred. In a post dated January 12th, XRP shared a price chart on the daily timeframe showing the clear breakout of a bull flag formation. He highlighted the rising momentum that the crypto asset will witness in 2025, stating, 'The leader of the pack, XRP'.
Peter Brandt's XRP price prediction now suggests an easy move above $3. The community has set a short-term price target of $3.4, expecting several good news for Ripple and XRP this year. The analysis by experts reveals that the asset is facing resistance at $2.60. It needs to break above the resistance level. Specifically, it needs to surpass the previous $2.90 for a strong move above $3.
Important liquidation area on the agenda
Bollinger bands indicate a high potential for a significant rise in the XRP price, which is moving near the upper band. Furthermore, the RSI at the 60 level supports the uptrend, indicating an important area for a breakthrough. Popular crypto analyst Ali Martinez revealed that many investors shorted XRP at $2.60.
Significant whale activity has been recorded in the past 24 hours. Whale Alert reported that 60 XRP worth $24,000,00 has been transferred to a wallet. Recently, the transfer of 300 million XRP from Ripple to an unknown wallet has also generated significant attention. Ripple CEO Brad Garlinghouse has announced important developments in the US by the company in the past six months, including approval for the launch of RLUSD stablecoin. We believe that the Trump administration will further enhance business development opportunities for the company in the US.