XRP (XRP) price recorded a bullish structure on the daily chart on January 11 after the altcoin reached a high of $2.60. The price then fell to $2.33 on January 13, but quickly recovered to above $2.45 within the trading day.
XRP 4-hour chart. Source: Cointelegraph/TradingView
XRP is currently the third-largest cryptocurrency asset, including stablecoins, with a market capitalization of $141 billion.
XRP/BTC is showing strength above 4-year resistance.
XRP lagged Bitcoin in the 2021 bull cycle, but the altcoin has established a stronghold in 2024/2025. With a weekly close above $2.50 last week, XRP/BTC recorded its highest weekly close since October 2022, as shown in the chart.
XRP/BTC 1-week chart. Source: Cointelegraph/TradingView
Likewise, XRP’s continued performance against BTC is likely to upset the four-year weekly resistance level set in May 2021. Over the past few years, resistance has been tested three times, most recently in November 2024.
Overall, XRP’s price action against BTC suggests that the market is broadly interested in altcoins as they head towards their 2018 all-time high (ATH) of $3.40.
Regarding the new ATH, cryptocurrency trader CRYPTOWZRD said:
“XRP has flipped previous support resistance and is now poised for a bounce to $4.00 and possibly as high as $8.00 on a higher period.”
XRP weekly chart analysis by CryptoWZRD. Source: X.com
The trader illustrated his forecast thesis using a market fractal on the altcoin weekly chart that is currently following XRP’s bullish zone in 2017.
Likewise, technology analyst and cryptocurrency investor Titan of Crypto has set a similar price target for this altcoin at $4.32. The analyst highlighted that XRP’s daily price action nullified the recent dead cross with a golden cross, further strengthening XRP’s bullish case.
Related: XRP, HBAR, BGB, and XMR Flash Bullish Signals as Bitcoin Seeks Direction.
XRP is going strong in the pennant.
On January 11, XRP broke through the immediate resistance of $2.50 and consequently witnessed a bullish breakout of the triangle/pennant pattern. The pennant, which took shape over 42 days, or 7 weeks, has a technical breakout target of $3.50, which is 50% of the pattern break point of $2.35.
XRP 1 day chart. Source: Cointelegraph/TradingView
However, the altcoin should close the daily candle above the key resistance range between $2.60 and $2.48 and turn the above range into support. The Relative Strength Index (RSI) is currently consolidating above 50, meaning bullish pressure continues to build for altcoins on the long-term charts.
If the daily close is above $2.60, XRP could quickly move above $2.72 and $2.90 due to the sell-side liquidity that exists just above this level.
Related: XRP Price Poised for a ‘Strong Move’ Above $2.90 as Sentiment Indicators Send Bullish Signals
This article is written for general information purposes and should not be considered legal or investment advice. The views, thoughts and opinions expressed herein are those of the author alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.