Over the last seven days, it appeared that the cryptocurrency market was moving towards a phase of recovery. Many major digital currencies experienced substantial growth to end the week positively. Among these, XRP stood out, demonstrating robust signs of rebounding strongly.
This year, the XRP token has continued its momentum from late 2024, racking up double-digit returns over the past week. This impressive weekly performance has catapulted it to the third spot among cryptocurrencies in terms of market capitalization, bumping USDT stablecoin down to fourth place.
Can The Price Of XRP Soar 350% In 2025?
In a recent update on the X platform, crypto expert Ali Martinez provided an insightful prediction about the future price of XRP. This influential figure in the crypto world believes that the altcoin might experience a significant surge, potentially reaching up to $11, within the next few months.
The basis for this prediction lies in the emergence of a substantial “bull pennant” pattern on our 12-hour chart. A bull pennant is a technical analysis tool, recognized by an upward spike (the flagpole) that’s followed by a narrow range where prices consolidate and two converging trend lines form (the pennant). After this consolidation, the price usually breaks out in the same direction as the initial flagpole.
A pennant formation resembles a ‘bull flag’ shape, but instead of a rectangular consolidation phase, a bull flag has a triangular one. However, both patterns are continuation signals, suggesting that the existing uptrend will continue in the case of a bull pennant.
Looking at the emphasized graph, it’s crucial to keep an eye on the $2.73 zone, as this area has historically acted as strong resistance. As per Martinez’s analysis, there could be a price drop to approximately $2.05 if XRP encounters rejection near the $2.73 price point.
Should the XRP price manage to break through and end its trading day above the $2.73 mark, it might reach a fresh record high of $11. This potential surge would represent approximately a 350% increase from its present value.
XRP Price At A Glance
Currently, the value of XRP is approximately $2.42, showing a 1% drop over the past day. However, this brief decrease hasn’t affected its weekly progress, as the altcoin has actually risen by over 16% within the last week.
Previously discussed, the XRP token has climbed its way up to become the third largest cryptocurrency, as far as market capitalization goes, in the digital asset industry. As per CoinGecko’s data, this alternative coin holds a market cap exceeding $139.1 billion.
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2025-01-05 14:10