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As the market enters 2025, XRP, the cryptocurrency that has garnered global investor interest in recent months, has begun the year exceptionally well.
The asset has experienced an impressive 11% surge, propelling its value to approximately $2.42, a level it had not seen since late 2024’s price correction.
Analysts Predict XRP Could Reach $5.85 As Market Confidence Grows
This resurgence has positioned XRP as the third-largest cryptocurrency in the market, with a market capitalization of around $139 billion, according to CoinGecko data. Notably, it has surpassed the market cap of Tether (USDT), which stands at $137 billion.
The recent rally in XRP’s price can be attributed in part to a broader shift in market sentiment following the election of President Donald Trump on November 5.
Trump’s victory has sparked renewed confidence in the digital asset industry, leading to increased optimism among investors. This sentiment shift seems to have catalyzed a wave of buying activity within the crypto market, benefiting not only XRP but also other digital assets.
Crypto analysts have taken notice of this trend. DarkDefender, a prominent figure in the crypto analysis community, observed that XRP’s price trajectory has been impressive.
After hovering around $2.11, XRP broke through its initial resistance at $2.22 and reached as high as $2.44. DarkDefender highlighted $2.42 as a critical resistance level that has now been updated as a new support level.
According to his analysis, if XRP can breach the $2.67 to $2.72 range, it could pave the way for a significant upward movement, targeting as high as $5.85.
This potential rise would represent an extraordinary 141% increase from its current price, marking a new all-time high for the token.
Elliott Wave Theory Points To Potential $10 Target
Adding to the optimism, another analyst, known as CryptoinsightUK, has weighed in on XRP’s potential trajectory suggesting that if XRP follows a measured move similar to its previous price leg, it could “easily surpass $10.”
Drawing from Elliott Wave Theory, which posits that market trends move in waves, he argues that if XRP enters a “wave 3” scenario—often the most substantial in terms of price movement—the asset could exceed $10.
CryptoinsightUK notes that many investors are targeting the $8 mark, a figure he considers reasonable based on various metrics.
By analyzing the price movements and potential gains, the analyst suggests that the future of the altcoin looks bright, with many indicators pointing towards substantial growth.
As 2025 unfolds, XRP’s impressive start and the broader market dynamics suggest that we may be on the cusp of a significant shift in the cryptocurrency landscape.
The confidence brought about by political changes and market sentiment may very well set the stage for a new era of growth for XRP and the cryptocurrency market as a whole.
Trading at $2.42, the XRP price shows a 2% increase over the past 24 hours. Regarding trading volume, CoinGecko data indicates a decrease of almost 42%, totaling $5.6 billion.
Featured image from DALL-E, chart from TradingView.com
