XRP has reclaimed its position as a bullish contender in the cryptocurrency market, reaching its highest value in six years. On January 15, the cryptocurrency hit $2.89, rebounding by over 30% from its monthly low and erasing the losses incurred earlier in 2025.

Whale Accumulation and ETF Speculation

The price surge aligns with significant whale activity, as wallets holding between 1 million and 10 million XRP tokens have accumulated the cryptocurrency at a rapid pace. This bullish sentiment has been further fuelled by a prediction from a JPMorgan analyst, suggesting that US XRP ETFs, if approved, could draw in $4 billion to $8 billion in net new assets.

XRP/USD daily price chart. Source: TradingView
XRP/USD daily price chart. Source: TradingView

Adding to the optimism, the upcoming inauguration of President-elect Donald Trump on January 20 could act as a pivotal moment for XRP, potentially paving the way for regulatory approval of spot XRP ETFs in the US.

Bull Flag Setup Suggests $4 Target

XRP’s daily chart highlights a bullish flag pattern following its 105% rally in November and December 2024. This pattern is defined by a downward-sloping consolidation channel, now resolved with a breakout above $2.72.

Technical analysis points to a potential rally of 50% from current levels, aiming for a price target of $4.16 by February. Supporting this outlook, XRP’s Relative Strength Index (RSI) at 66 indicates room for upward momentum. Additionally, the price remains above its 50-day Exponential Moving Average (EMA) at $2.15, which acts as a strong support level.

Weekly Chart Predicts $13 Milestone

On the weekly timeframe, XRP has broken out of a bull pennant pattern, a structure formed during consolidation after a strong upward move. According to technical rules, this breakout could lead to a price surge equivalent to the height of the previous rally, suggesting a target of $13 in the coming months.

XRP/USD weekly price chart. Source: TradingView
XRP/USD weekly price chart. Source: TradingView

The cryptocurrency is trading well above its key moving averages, including the 50-week EMA at $1.64 and the 200-week EMA at $0.69, indicating robust market support. Fibonacci extension levels further reinforce intermediate resistance at $3 and $4.62, with a long-term breakout target near $13.

Analyst Predicts $18 Based on 2017 Fractal

Prominent analyst Dark Defender has drawn parallels between XRP’s current price action and its 2017 bull market performance. During that rally, XRP posted gains exceeding 1,000%. Based on similar Fibonacci retracement levels, the analyst forecasts potential upside targets of $10.22 and $18.22 in the near term.

Overbought Conditions and Short-Term Risks

Despite the bullish outlook, XRP’s RSI on the weekly chart has climbed to 79.5, indicating an overbought condition. This could lead to short-term price corrections or consolidations before further upward movement.

XRP/USD monthly price chart. Source: Dark Defender
XRP/USD monthly price chart. Source: Dark Defender

As XRP continues to gain momentum, it remains poised to test critical resistance levels. Whether it can sustain this trajectory and reach double-digit prices will depend on market dynamics and regulatory developments in the coming months.

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