XRP (XRP) led the broader cryptocurrency market, rising 12% in the last 24 hours, marking a 466% gain since early November 2024.
With a quick recovery from the January 3 low of $2.20, analysts say XRP’s price is poised for a double-digit rebound this year.
XRP/USD daily chart. Source: Cointelegraph/TradingView
XRP/BTC broke through 8-year resistance.
XRP underperformed Bitcoin after its bull cycle in 2017 before regaining ground in late 2024.
With the weekly close above 0.000015 in the last week of November 2024, the XRP/BTC pair crossed a multi-year downtrend line. This line has served as resistance for the pair since 2017.
XRP/BTC closed the week at 0.000026 on January 12, the highest weekly candle since October 2022, according to data from Cointelegraph Markets Pro and TradingView.
XRP/BTC weekly chart. Source: Cointelegraph/TradingView
Market analysts predict that XRP’s continued outperformance against BTC will lead the ratio to reach its all-time high target of 0.000245, which it reached in May 2017.
“Strong breakout for XRP against Bitcoin pair with strong volume,” XRP analyst Steph Is Crypto wrote in a post on X on January 14.
Based on his analysis of the monthly XRP/USD pair, the analyst added:
“I expect XRP to outperform Bitcoin by at least 538% in the coming months.”
XRP/BTC monthly chart. source: Stephanie is cryptocurrency
The inference comes from a market fractal on the monthly chart that is currently playing out following XRP’s 2017 bull run.
Overall, XRP’s current price action against BTC suggests the market is broadly interested in the altcoin as it moves towards its 2018 all-time high of $3.84.
Number of XRP holders increases
In addition to the favorable market structure, XRP’s ecosystem has witnessed a series of positive events that have attracted more speculators.
relevant: XRP surges 12% as whales continue ‘massive accumulation’ — Santiment
A chart shared by market intelligence firm Santiment shows that the total number of XRP holders has increased by 58,000 since the beginning of 2025.
Your total, non-empty wallet for the best crypto assets. source: st tly
The notable increase in XRP holders suggests “the community feels comfortable with the project for the long term,” Santiment said in an accompanying note.
XRP price broke out of a bullish pennant.
The price broke out of a bullish pennant on January 11 as XRP rose above the psychological level of $2.50, independent trader Mikybull Crypto noted.
According to Mikybull Crypto’s analysis, the pennant, formed from December 2, 2024, has a short-term target of $3.70 based on Fibonacci retracement levels. This represents a 32% increase over the current price of $2.85.
Beyond that, analysts expect explosive pumps beyond all-time highs.
“XRP’s train to new all-time highs has begun. The giant pump will be broadcast through the media.”
XRP/USD daily chart. source: Mikybull Cryptography
For Stephh Is Crypto, the bullish pennant is part of a huge bullish flag that has been formed since November 5, 2024. His analysis sets a technical breakout target for the bullish flag above $14, a whopping 390% increase from current levels.
source: Stephanie is cryptocurrency
President-elect Trump’s inauguration on January 20 could be another catalyst for XRP, which could potentially see the approval of a spot XRP ETF in the US.
According to JPMorgan, this could attract $4 billion to $8 billion in net new assets.
This article does not contain investment advice or recommendations. All investment and trading activities involve risk and readers should conduct their own research when making any decisions.