This article is also available in Spanish.
like the market He enters 2025, ripple, the Cryptocurrency Which He has It happened worldwide Investor interest in recently Months, it has I started the year Exceptionally Good.
The asset saw a staggering 11% rise, pushing its value to around $2.42, a level not seen since late 2024. Price correction.
Analysts expect XRP to reach $5.85 as market confidence grows
This rebound has positioned XRP as the third-largest cryptocurrency on the market, with a market cap of about $139 billion, according to CoinGecko. Data. Notably, it surpassed the market capitalization of Tether (USDT), which stands at $137 billion.
The recent rise in the price of XRP can be partly attributed to a broader shift in market sentiment following the election of President Donald Trump on November 5.
Trump’s victory sparked renewed confidence in the digital assets industry, leading to increased optimism among investors. this Transformation of feelings It appears to have stimulated a wave of buying activity within the cryptocurrency market, benefiting not only XRP but also other digital assets.
Related reading
Cryptocurrency analysts have noticed this trend. DarkDefender, a prominent figure in the cryptocurrency analysis community, Notice The price trajectory of XRP has been impressive.
After hovering around $2.11, XRP broke through the initial resistance at $2.22 and reached $2.44. DarkDefender highlighted $2.42 as a critical resistance level that has now been updated as a new support level.
According to his analysis, if XRP can break out of the $2.67 to $2.72 range, it could pave the way for a significant upward move, targeting as high as $5.85.
This potential rise would represent an extraordinary increase of 141% from its current price, representing a new increase Highest level ever For the symbol.
Elliott Wave Theory suggests a possible target at $10
Adding to the optimism, another analyst, known as CryptoinsightUK, weighed in on the potential path for XRP. suggestion That if XRP follows a calculated move similar to its previous price leg, it could “easily surpass $10.”
Drawing on Elliott Wave Theory, which assumes that market trends move in waves, he argues that if XRP enters a “wave 3” scenario – often the most significant in terms of price action – the asset could surpass $10.
CryptoinsightUK notes that many investors are targeting the $8 mark, a number it considers reasonable based on several factors. Metrics.
By analyzing price movements and potential gains, the analyst notes that the future of the altcoin looks bright, with many indicators pointing to significant growth.
Related reading
Heading into 2025, XRP’s impressive start and broader market dynamics suggest we may be on the cusp of a major shift in the cryptocurrency landscape.
The confidence brought about by political changes and market sentiment may pave the way for a new era of growth for XRP and Cryptocurrency The market as a whole.
XRP price is trading at $2.42, showing a 2% increase over the past 24 hours. In terms of trading volume, CoinGecko data indicates a decline of approximately 42%, for a total of $5.6 billion.
Featured image of DALL-E, chart from TradingView.com