XRP price went up by more than 10%. It grew faster than Bitcoin and Ethereum. This caught a lot of attention in the crypto market.
The cryptocurrency market has been buzzing recently, particularly with the XRP price making headlines by surging over 10%. XRP price has risen above $2.80. This makes it a strong competitor to Bitcoin and Ethereum. On January 16, 2025, XRP reached $3.054. This big jump has caught the attention of investors and analysts.
Bullish Momentum Drives XRP to $3.20
In recent trading sessions, XRP price initiated a fresh rally, breaking through the $2.50 and $2.65 resistance levels. XRP’s price went above $2.80, a key level. The rise didn’t stop. XRP moved past $2.85 and reached $3.20. It then settled after the big gain.
The upward move was further confirmed by technical indicators. XRP is currently trading above $2.90, maintaining a position above the 100-hourly Simple Moving Average. A bullish trend line has formed on the hourly chart. Support is near $2.88. This shows strong buying interest.
XRP Targets Beyond $3.20: XRP Price
The rally above $2.80 is an important milestone for XRP. It shows strong bullish sentiment as XRP holds gains above this level. The price is now stabilizing above the 23.6% Fibonacci level, which is based on the recent rise from $2.333 to $3.20.
XRP is currently trading above $2.90 and is supported by the 100-hourly Simple Moving Average. It shows no signs of slowing down. A bullish trend line with support around $2.88 strengthens its position. This suggests that any small drops will probably be limited, with strong buying interest at lower levels.
Will XRP Hit $3.62 Next?
XRP may face resistance around $3.05. The next key hurdle is at $3.12, followed by $3.20. If it moves past $3.20, XRP could rise towards $3.32. If the bullish trend continues the next targets are $3.45 and $3.50, with $3.62 being the main challenge in the near future.
Downside Risks for XRP Price
While the current momentum looks good, XRP is still at risk of falling. If XRP can’t break $3.20 it may pull back. The first support is around $2.98. Stronger support is at $2.80, which also matches the 50% Fibonacci retracement of the recent rise.
If XRP falls below $2.80, it could drop further, possibly reaching $2.65 or $2.50. However because of the current positive feeling in the market, this seems unlikely unless there’s a big change overall.
XRP Outshines Bitcoin in Recent Rally
The recent surge in XRP’s price shows that altcoins can outperform traditional leaders like Bitcoin. XRP’s rise comes as Bitcoin has been stuck in a narrow range, unable to reach its previous highs. This change in the market suggests that traders and investors are now seeking opportunities outside of Bitcoin.
XRP’s strong performance could spark more interest in Ripple’s ecosystem and its uses. As the rules for XRP get clearer, more investors might get interested. This could include both big companies and individual buyers. If that happens, XRP’s price could go up even more.
The recent surge in XRP price, marking a 10% gain, has taken the spotlight in the crypto market, surpassing Bitcoin and Ethereum in growth. On January 16, 2025 XRP hit a significant high of $3.054, fueled by strong buying momentum that helped it break key resistance levels. Technical indicators showed strong interest from buyers. XRP now aims for higher levels, with resistance at $3.20 and possibly up to $3.62 in the near future.
XRP could face risks if it falls below key support levels, like $2.80. The rally shows a change in the market, with altcoins like XRP doing better than Bitcoin. Bitcoin has had trouble gaining momentum. More people may start investing in XRP, especially as regulations around cryptocurrency become clearer.
Also Read: JPMorgan Crypto ETFs Could Attract $14 Billion if SEC Approves
