Ripple (XRP) price has climbed by over 10% in the last day, marking a significant rebound. While other cryptocurrencies remain subdued, XRP has outperformed, nearly reaching its all-time high. After a sluggish performance throughout the first three quarters of 2024, hovering around $0.5, the currency has made a notable comeback. As the new year begins, the momentum could propel XRP even higher, with potential peaks on the horizon.
XRP Price Rallies 10%: Eyeing ATH This January?
XRP price surged by 10% over the past day, climbing to $2.31. This notable increase continues a positive trend in the cryptocurrency market. The digital asset has experienced significant volatility, hitting a 24-hour low of $2.07 before reaching a high of $2.33.
Despite this upward movement, XRP remains 40% below its all-time high of $3.84, recorded on January 4, 2018. The current momentum hints at a potentially higher climb, possibly even retesting its peak.
As the XRP price grows, market watchers closely monitor whether it can surpass the record highs set in early 2018. This resurgence in XRP’s market price reflects broader interest and optimism in cryptocurrency as investors and traders speculate on future gains.
Ripple Price Eyes Breakout, Targets $3.20 Surge
Crypto analysts tweeted that the XRP price is currently forming a substantial symmetrical triangle pattern. This formation follows its recent peak at $2.90. The chart suggests that a potential breakout on the upside could see a medium-term price target of $3.20, reflecting a 10% increase from its all-time high.
The ongoing consolidation within this pattern signals a crucial phase for Ripple as it hovers near significant price levels. Market watchers are closely monitoring for a decisive move that could establish a new support level and confirm the bullish trend continuation.
The cryptocurrency market shows moderate fluctuations in the last 24 hours. Bitcoin slightly increased by 1.22%, now trading at $94,638. Meanwhile, Ethereum saw a minor uptick of 0.27%, setting its price at $3,350.
Binance Coin also experienced slight gains, up by 0.72%, priced at $706.63. Solana recorded a minimal increase of 0.11%, with its trading value now at $193.96. Dogecoin followed suit with a gain of 2.59%, bringing it to $0.3246. These movements reflect the ongoing dynamics and interest in the cryptocurrency space.
How High Can Ripple Price Go This January?
If the bullish momentum continues, XRP price may surpass the $3 mark. An upward trend might push prices toward the $3.50 support level soon. With sustained investor interest, XRP could potentially reach $3.84, setting a new all-time high by January.
Conversely, a shift to bearish sentiments could see prices decline. If this trend takes hold, XRP price might fall below the crucial $2.00 support level, signaling a broader market retracement.
The Relative Strength Index (RSI) for Ripple indicates strong buying interest, as it sits above the 60 mark. The Moving Average Convergence Divergence (MACD) for XRP shows a positive trend. The MACD line is currently above the signal line. This indicates a bullish market sentiment and could suggest further price increases for XRP.
Source: TradingView
As the crypto market gains momentum, mirroring past recoveries like Bitcoin’s resurgence, the XRP price could witness significant upward trends. XRP’s price might soar beyond expectations if investor confidence remains high, potentially setting new records in January.
