XRP’s price registered a bullish break on January 11, after reaching a high of $2.60 on the daily chart. Since then, the altcoin has dipped to $2.33 but recovered above $2.45 within the trading day. XRP is currently the third-largest cryptocurrency asset with a market cap of $141 billion.
The altcoin’s outperformance against Bitcoin has led to its highest weekly close candle since October 2022. This continued strong performance could potentially flip a four-year-old resistance level established in May 2021, which has been tested three times before, including in November 2024.
Crypto traders and analysts are predicting that XRP will rally towards its all-time high of $3.40 in 2018, with some forecasting prices as high as $4.00 and $8.00. A market fractal analysis suggests that XRP’s price action is playing out according to the altcoin’s bullish leg from 2017.
The relative strength index (RSI) is consolidating above 50, indicating continued bullish pressure for XRP on the long-term chart. If XRP closes above $2.60 daily, it could move swiftly above $2.72 and $2.90 due to sell-side liquidity present just above these levels.
Note: This article is for general information purposes only and should not be taken as investment advice.
Source: https://cointelegraph.com/news/xrp-rally-to-4-possible-after-xrp-btc-pair-clears-30-day-resistance-level