XRP price snaps 8-year downtrend vs Bitcoin as predictions target $14
2025.01.15 06:58
XRP (XRP) has led the broader crypto market with a 12% jump over the last 24 hours to bring its gains since early November 2024 to 466%.
The swift recovery from Jan. 3 lows at $2.20 has led analysts to say that XRP’s price is poised to rally into double digits this year.
XRP/USD daily chart. Source: Cointelegraph/TradingView
XRP/BTC breaks out above 8-year resistance
XRP had underperformed Bitcoin since the 2017 bull cycle before it regained its footing at the end of 2024.
With a weekly close above 0.000015 during the last week of November 2024, the XRP/BTC pair broke above a multi-year descending trendline. Note that this line has acted as resistance for the pair since 2017.
Data from Cointelegraph Markets Pro and TradingView shows that XRP/BTC closed the week at 0.000026 on Jan. 12, its highest weekly candle since October 2022.
XRP/BTC weekly chart. Source: Cointelegraph/TradingView
Market analysts expect continued outperformance of XRP against BTC will potentially see the ratio hit the all-time high target of 0.000245 reached in May 2017.
“Powerful breakout for XRP against the Bitcoin pair with strong volume,” said XRP analyst Steph Is Crypto in a Jan. 14 post on X.
Based on his analysis of the XRP/USD pair in the monthly timeframe, the analyst added;
“I expect XRP to outperform Bitcoin by at least 538% in the coming months.”
XRP/BTC monthly chart. Source: Steph Is Crypto
The reasoning stems from a market fractal on the monthly chart, which is currently playing out according to XRP’s 2017 bull run.
Overall, XRP’s current price action against BTC implies that the market is widely paying attention to the altcoin as it moves toward its 2018 all-time high of $3.84.
XRP holders grow in number
Besides a favorable market structure, XRP’s ecosystem has also witnessed a series of positive events that have lured more speculators.
Related: XRP spikes 12% as whales continue ‘enormous accumulation’ — Santiment
A chart shared by market intelligence firm Santiment shows that the Total Amount of XRP Holders has grown by 58,000 since the beginning of 2025.
Total non-empty wallets for top crypto assets. Source: Santiment
The notable increase in the number of XRP holders suggests that “the community is comfortable in the project for the long-term,” Santiment said in an accompanying note.
XRP price breaks out of a bullish pennant
XRP’s rise above the $2.50 psychological level on Jan. 11 saw the price break out of a bullish pennant, as pointed out by independent trader Mikybull Crypto.
The pennant, which has been in formation since Dec. 2, 2024, has a short-term target of $3.70 based on the Fibonacci retracement levels, as per the analysis by Mikybull Crypto. This represents a 32% uptick from the current price of $2.85.
Beyond that, the analyst projects an explosive pump to all-time highs and beyond.
“$XRP train to new all-time highs has begun. The massive pump will be televised across the media.”
XRP/USD daily chart. Source: Mikybull Crypto
For Stephh Is Crypto, the bullish pennant is part of a giant bull flag that has been in formation since Nov. 5, 2024. His analysis sets the bull flag’s technical breakout target above $14, a whopping 390% increase from current levels.
Source: Steph Is Crypto
President-elect Trump’s inauguration on Jan. 20 may be another catalyst for XRP, which could potentially see the approval of spot XRP ETFs in the US.
This could attract $4 billion-$8 billion in net new assets, according to JPMorgan.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
