2024: A Record-Breaking Year for XRP
2024 was a pivotal year for the altcoin XRP, with the cryptocurrency reaching its highest monthly close ever in December at $2.08. This significant milestone marked a 16.50% return over the past three days, setting a positive tone for 2025.
Market Expectations are Bullish in 2025
As the new year begins, market expectations are largely bullish, with traders and technical analysts outlining potential XRP targets for the coming months. With Ripple’s legal battle with the SEC reaching a positive conclusion for the crypto asset, multiple analysts believe that XRP is poised for further upside in 2025.
The Second Wave of the Rally is About to Kick Off
According to Mikybull, a crypto trader, XRP’s second wave of the rally is about to kick off. Drawing comparisons between 2017 and 2024 over a two-day chart, XRP experienced a 30-day consolidation period, where the relative strength index (RSI) cooled off from an overbought condition to around 57.
XRP Analysis by Mikybull
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 current daily chart displayed a series of strengths mirroring its 2017 bull run.
"The trader said,’By previous performance, All Time Highs (>$3.317) and MUCH HIGHER is looking to also be a matter of when, and not if.’"
XRP Bullish Pennant Targets a 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.
XRP 6-Hour Chart
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 lead XRP to $5 over the next few weeks, which is 110% of its current price value.
Higher Targets for XRP
While the above price target seems reasonable, other analysts had higher targets for the altcoin. Tony Severino, a market technician, identified a potential bull flag for XRP on the 1-day chart. The trader explained that a valid breakout from this particular pattern puts XRP’s top target at around $13, i.e., another 440% rise.
XRP 1-Day Chart by Tony Severino
However, Severino added that XRP at $13 is beyond ideal top targets, but it is not "impossible."
Conclusion
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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