XRP, the third-largest cryptocurrency by market capitalization, has captured attention after achieving its highest weekly close against bitcoin (XRP/BTC) since October 2022. This significant milestone, marked by a close above $2.50 last week, highlights XRP’s growing dominance and its potential for further price gains.
XRP outperforms BTC, closing in on 4-year weekly resistance
XRP’s recent performance against BTC has turned heads, with the XRPL Ledger native token nearing a breakout above a four-year resistance level established in May 2021. This age-long resistance is seen at 0.00002914 on the XRP/BTC weekly chart, as shown below.
Over the past four years since January 2022, this resistance has been tested thrice, with the most recent attempt in November 2024. Analysts note that a successful flip of this critical level could propel XRP to new highs, reinforcing its bullish trajectory.
Notably, XRP has shown remarkable strength in recent weeks, gaining over 22% in the past seven days while BTC records merely 1.4% gain within the same period. This impressive performance culminated in XRP recording its highest weekly close against BTC since 2022, marked by its breaching of the 0.00002614 price level on the XRP/BTC chart.
Citing this historic price action, analysts are confident XRP/BTC would breakout above the four-year resistance at 0.00002914. Other positive factors fueling this expectation is the notable rise in XRP Open Interest to an all-time high above $5.40 billion, positive XRP futures funding rates and the formation of rare buXRP chart patterns.
Read also: Bitcoin network and BTC asset: Projections for 2025
Top analysts predict $4, $8 and beyond for XRP, citing 2017 pattern
Crypto analysts are optimistic about XRP’s future, citing strong technical indicators and market trends. Pseudonymous market analyst WZRD Contributors believes XRP is poised for a significant rally to $4 and then $8.
His prediction is supported by a fractal pattern on XRP’s weekly chart, reminiscent of the cryptoasset’s explosive 2017 rally. In 2017, XRP price jumped over 11,000% to hit $3.4 after turning the $0.03 old resistance to support.
In a recent analysis, WRZD Contributors highlighted that XRP has successfully flipped $1.9—a previous resistance level—to support just like the 2017 scenario. This puts XRP on course to reach $4, he implied. Additionally, the analyst said a strong consolidation above $2.52 would put the cryptoasset on track to reach $8 and higher.
“XRP has flipped previous resistance to support, it is now ready to rally to $4.00 and then $8.00 in the higher time frame,” he stated.
Source: WRZD Contributors/ TradingView
In the same vein, Titan of Crypto, a technical analyst, has set a price target of $4.32 for XRP in the coming weeks, highlighting a recent golden cross on XRP’s daily chart. This bullish signal invalidates a prior death cross and strengthens the case for continued upward momentum.
He wrote: “XRP Golden Cross: Target $4.32. XRP might be leading the way for Bitcoin. A death cross invalidated by a golden cross and a breakout above the trendline. Momentum is building.”
Source: Titan of Crypto/ X
Technical breakout hints at further XRP gains
On 11 January 2025, XRP achieved a bullish breakout from a 42-day pennant pattern after a significant price surge post-Ripple 500M token unlock. This breakout, occurring above the $2.50 resistance level, sets a technical target of $3.50, representing a potential 50% gain from the breakout point of $2.35.
To sustain this momentum, XRP needed to close a daily candle above the critical resistance range of $2.48 to $2.60, which has successfully played at the time of writing. Notably, XRP reached a high of $2.87 on 15 January before briefly dipping to $2.79.
However, it quickly recovered, stabilizing above $2.8 at the time of writing, signaling strong buyer support and renewed market confidence. Additionally, the altcoin’s relative strength index (RSI) consolidating above 50 suggests that bullish pressure continues to build.
In conclusion, maintaining the $2.5 – $2.6 range as a new support level would open the door to further XRP gains, however, with sell-side liquidity or resistance present near $2.72 and $2.90.
Read also: XRP: Bearish indicators warn of potential 25% price decline in early 2025
Ndianabasi Tom A Petroleum Engineering degree holder, Ndianabasi’s interest since 2018 has been studying the ever-growing field of blockchain and cryptocurrency, keenly evaluating the innovation, exploration, and expansion of this field locally and globally. The founder of Nitadel a media platform, Ndianabasi has been a Writer at Crypto Asset Buyer (CAB) since 2021. When he is not drilling resources in the blockchain and cryptocurrency field, Ndianabasi is singing, reading, watching crime movies, or playing football.
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