XRP, Ripple’s native cryptocurrency, is gaining momentum, with analysts predicting a potential rally to $10 following a significant breakout. Crypto analyst Javon Marks highlighted this bullish outlook, pointing to XRP’s recent movement above the $3.18 resistance level, forming a bull pennant pattern. According to Marks, XRP’s 9-hour chart shows promising signs of continuation towards $10, reminiscent of the substantial rally witnessed in late 2023.
$XRP's 9h looks to have displayed ANOTHER BREAKOUT and this can spark a continuation towards the $10+ levels! pic.twitter.com/SLRQPAwNZo
— JAVON⚡️MARKS (@JavonTM1) January 24, 2025
The technical indicators for XRP remain robust, bolstering the case for a parabolic move. Analyst Mikybull Crypto also forecasts an $8 surge, citing strong bullish fundamentals. In his latest analysis, he emphasized that XRP is positioned for a massive upside rally, as confirmed by his accompanying price chart.
XRP/BTC Chart Analysis
Egrag Crypto delved deeper into XRP’s performance against Bitcoin, offering insights into potential price trajectories. He observed that XRP’s weekly chart is less than three days away from a pivotal candle close above a key blue line, signaling bullish momentum. Egrag noted that previous candle closes above this line have historically triggered strong upward moves.
On the 3-day chart, XRP has formed long-legged candles, a sign that bulls are actively dominating the market. Additionally, on the 12-hour timeframe, XRP appears to be in a descending channel, a pattern that statistically breaks upwards 70% of the time. Egrag outlined that an upside breakout above the channel’s upper trendline could unlock substantial gains. However, he cautioned that a downside breakout below the lower trendline might lead to bearish trends, urging traders to monitor trading volumes closely during potential breakouts.
Key Levels to Watch
Crypto analyst CasiTrades emphasized critical price levels for XRP. She identified $3.24 as a key reclaim level, while $3.32 is a crucial resistance point that needs flipping into support for XRP to target its next wave at $3.80.
For now, XRP remains in consolidation, respecting a triangle pattern, but the bullish indicators suggest a breakout is on the horizon. Should XRP sustain its momentum, the path to $10 could soon become a reality.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Ripple vs. SEC: Legal Experts Predict Dismissal or Settlement—What’s Next for XRP?
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