Here’s Why XRP Price Skyrockets 15% Today, What’s Next?

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As a seasoned crypto investor with a knack for spotting trends and navigating market corrections, I find myself quite optimistic about Ripple‘s XRP. With a personal journey that started during the 2017 bull run, I’ve seen my fair share of ups and downs in this space. However, the recent surge of XRP to $2.42, coupled with the robust trading volume, has caught my attention.

The bullish momentum seems undeniable, especially considering the strong defense of the $2.0 support and the predictions from popular analysts hinting at a potential surge to $13 and beyond. Moreover, Ripple’s CEO Brad Garlinghouse’s focus on real-world utility adds credibility to the coin’s future prospects.

I’m particularly intrigued by the technical analysis pointing towards potential breakouts above $3 and even $13, as suggested by EGRAG Crypto and Tony respectively. While these targets seem ambitious, they are not entirely impossible given the current bullish scenario.

However, I would be remiss if I didn’t mention a bit of skepticism regarding Ripple’s recent move to commit XRP worth $5 million for Donald Trump’s inauguration in 2025. While it’s an interesting strategy, I can’t help but wonder if they’re betting on Trump making crypto great again… or maybe just great for Ripple!

Jokingly speaking, I guess we’ll have to wait and see if XRP will indeed make America grate again! But until then, it’s all about riding the bullish wave and keeping a close eye on those critical resistance levels.

In the past day, Ripple’s native cryptocurrency, XRP, has experienced a significant increase of approximately 15%, hinting at potential further growth towards $3 and beyond. Today, the price of XRP soared to $2.42, which coincides with a substantial daily trading volume jump of around 120% that surpassed $10 billion, indicating robust bullish energy.

As an analyst, I’ve observed a significant upward trend in the value of the cryptocurrency we’re focusing on. This uptick occurred after the bulls successfully guarded the $2.0 support level following the recent market correction. Notably, many respected analysts foresee this surge extending to $13 and possibly beyond. Moreover, Ripple’s CEO, Brad Garlinghouse, has suggested that they will continue developing real-world applications for the platform, which is an exciting prospect as we move towards 2025.

Where Is XRP Price Heading Next?

As a researcher, I’m observing a significant development in the Ripple market. The day’s closing price of XRP surpassing $2.12, with the influence of the “Ripple bulls”, suggests that the bullish momentum for the Ripple cryptocurrency is still robust and thriving.

Crypto expert EGRAG Crypto has pointed out significant resistance levels to keep an eye on in the upcoming trading periods: $2.60, $2.65, and $2.75. If these barriers are breached, it might open up opportunities for higher price goals, possibly indicating a bullish surge beyond $3. Moreover, the increased activity of XRP large investors could bolster overall market momentum.

Looking forward to 2025, financial experts maintain a positive outlook for Ripple’s cryptocurrency, anticipating double-digit price goals and surpassing previous records beyond $10. This optimism stems from the expectation that the ongoing legal dispute will be resolved soon, which further boosts analysts’ confidence in XRP due to its favorable technical configuration.

Looking at a long-term graph, it appears that the price of XRP could soon burst through a flag-and-pole pattern. Cryptocurrency expert Tony has identified a possible bullish pennant formation in XRP, which could result in a potential price of $13 if validated. Although this figure surpasses his main predictions, Tony points out that such an increase, while ambitious, is not completely unattainable within a robust bull market scenario.

Ripple Is Betting on Donald Trump’s Swearing in?

In the New Year of 2025, Ripple Labs transferred a total of 500 million XRP from their escrow account with an accompanying message. This message hinted at upcoming events, stating: “January 20th is fast approaching. Donald Trump will be taking office in the White House, and we aim to revolutionize cryptocurrency once more!” Ripple has pledged $5 million worth of XRP for Trump’s inauguration ceremony.

Today, Ripple will launch its second round of releasing a billion XRP tokens. The price surge of XRP today has resulted in significant sell-offs for the cryptocurrency. According to data from Coinglass, the open interest in XRP has increased by 28% to reach $2.5 billion, and the daily liquidations have skyrocketed to $14.38 million, with around $12 million being short liquidations.

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2025-01-02 08:44