Breakout Above $2.50 Could Propel XRP Price to $2.72, Analysts Predict
Highlights:
- XRP’s price surged 5% in 24 hours, with an 80% increase in trading volume.
- Analysts at More Crypto Online emphasize maintaining a price above $2.32 for XRP to sustain bullish momentum.
- Peter Brandt predicts strong bullish momentum for XRP, calling it the “leader of the pack.”
In a recent X post, More Crypto Online provided a key update on XRP’s market conditions. Analysts emphasized the importance of maintaining a price above $2.32 to sustain the bullish trend. If XRP falls below this critical level, historical data suggests it could decline further to its next major support at $2.00.
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Analysts at More Crypto Online identified $2.50 as a key resistance level for XRP’s bullish momentum, as the altcoin trades near this value. They suggest that breaking above $2.50 would confirm a breakout from the current triangle pattern on the hourly chart, signaling a continued uptrend. Further analysis from More Crypto Online indicates that breaking the $2.50 resistance could push XRP toward the next major barrier at $2.72. To sustain its bullish momentum, analysts emphasize the importance of surpassing both resistance levels while holding above the critical $2.32 support.
$XRP: The price is still holding support and there is some increased upside momentum. To keep the local uptrend alive, the price should ideally hold above $2.32. $2.50 and $2.72 are the next resistance levels and the chart context has not changed. A break above $2.50 is needed as… pic.twitter.com/kcBNrUVSxj
— More Crypto Online (@Morecryptoonl) January 11, 2025
XRP’s price jumped over 4.92% in the last 24 hours, kicking off a fresh rally. Currently trading above $2.52, the asset has seen an 81.78% surge in trading volume. Its 24-hour range spans from a low of $2.34 to a high of $2.60.
Peter Brandt Predicts Strong Bullish Momentum for XRP Price
On January 12, veteran trader Peter Brandt shared an XRP price chart on X, highlighting a clear bull flag breakout on the daily timeframe. Calling XRP the “leader of the pack,” he hinted at a strong bullish momentum expected this year. Peter Brandt’s XRP forecast suggests a strong breakout above $2.60 could further boost XRP’s upward momentum.
Leader of the pack $XRP pic.twitter.com/mld7fp0vbM
— Peter Brandt (@PeterLBrandt) January 11, 2025
XRP Market Cap of $500B Within Six Weeks is ‘Possible’: Peter Brandt
Peter Brandt recently shared insights on XRP’s weekly chart, identifying a half-mast flag pattern. He suggested this formation might be completed in six weeks. The half-mast flag, a neutral indicator, represents a consolidation phase within a trend before continuation, potentially signaling a bullish or bearish outcome.
According to the chart, XRP’s market cap could hit $500 billion if the pattern completes bullishly. However, Brandt cautions that if the pattern doesn’t play out soon, it may evolve into a different formation.
XRP’s Progress and Market Outlook Amid Legal Battle and ETF Approval
As XRP continues to perform well, Ripple has concentrated on enhancing its technology and forging business partnerships. The company is still facing a long legal fight with the SEC. Market observers believe that a new SEC Chair under the Trump administration could lead to the case being dropped.
A potential surge in XRP’s price could be further fueled by the growing approval of spot XRP and Solana ETF products this year. Nate Geraci predicts these ETFs will gain approval following VanEck’s submission of the first Solana ETF in June last year. Since then, the SEC has welcomed additional Solana ETF filings from Grayscale, Canary Capital, and 21Shares.
While Solana ETFs remain under review, Canary Capital’s filing for an XRP ETF in October 2023 has reshaped the crypto ETF landscape, prompting more asset managers to follow suit. This development could be a key driver behind the ongoing bullish momentum of XRP’s price.
My 10 crypto-related ETF predictions for 2025…https://t.co/uDj1OCkaVQ pic.twitter.com/ye3zA2sinV
— Nate Geraci (@NateGeraci) January 11, 2025
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Syed Ali Haider
Ali Haider is a contributing crypto writer at Crypto2Community. He is a crypto and blockchain journalist with over six years of experience and has long advocated for digital freedom and cybersecurity. Haider has been featured in several high-profile crypto and finance outlets, including Coincult, AltcoinBeacon, BTCRead, and more.
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