TLDR
XRP currently trading at $3.10 (January 2025), showing 459% year-on-year growth
Analyst Mikybull Crypto predicts $8 price target based on current bullish fundamentals
Trump administration’s pro-crypto stance potentially influencing positive XRP outlook
Five XRP ETF applications currently pending with SEC
Multiple analysts project higher targets: CasiTrades ($3.80), CryptoBall ($13-20), XBT Liquidators ($27-30)
XRP continues its upward trajectory in early 2025, reaching $3.10 as of January 21, marking a 6% daily increase and approaching its all-time high of $3.40 set in January 2018. The cryptocurrency has demonstrated strong momentum with a 19.6% surge over the past week and a 459% increase year-over-year.
Trading volume has remained robust, with 24-hour activity reaching $14.92 billion. The current market capitalization stands at $178.44 billion, supported by a circulating supply of 57.56 billion tokens out of a total supply of nearly 100 billion.
XRP
XRP Price
Several cryptocurrency analysts have shared price predictions for XRP in the current market cycle. Analyst Mikybull Crypto suggests that XRP could reach $8, citing current bullish fundamentals. The analyst indicates this target might not represent the cycle top, suggesting potential for further upside.
Technical analyst CasiTrades points to a more immediate target of $3.80, noting that XRP has already hit a major wave 4 target at $2.88. According to CasiTrades, the focus now shifts to converting local resistance levels into support before attempting to reach the wave 5 target of $3.80.
The cryptocurrency has tested the $3.24 level multiple times, facing rejection. CasiTrades suggests that consolidation between $3.24 and $3.33 might occur before a potential breakout, emphasizing the need for a new high to confirm the $3.80 target.
Other analysts have projected even higher prices. CryptoBall, posting on social media platform X, forecasts a price of $13 in the near term, with potential to exceed $20 during the current bull cycle. This prediction relies on Elliott Wave Theory analysis, suggesting substantial price increases following a breakout.
#XRP will go above $20 this bull cycle and to $13 within the next few weeks. This is based on Elliot Impulse Waves which start after a significant breakout. In 2017 these 5 waves took us from $0.002 to $3.84 and 70,000%. This time the 5 waves will take U.S. from $0.50 to $26 and… pic.twitter.com/3pzXob0mkO
— CryptoBull (@CryptoBull2020) January 7, 2025
XBT Liquidators presents the most optimistic outlook, projecting a price range of $27-30 based on high time frame Gann fans analysis, which examines cyclical movements between key support and resistance levels.
The regulatory environment appears increasingly favorable for XRP. In July 2023, a federal judge ruled that XRP is not a security when sold to retail investors on exchanges, though sales to institutional investors were classified as unregistered securities transactions.
The current U.S. administration’s stance on cryptocurrency regulation has drawn market attention. Reports indicate openness to establishing a U.S.-based coins strategic reserve that could include XRP, potentially expanding its adoption.
Interest in XRP-based investment products continues to grow. REX Shares recently submitted an application for an XRP ETF, bringing the total number of pending applications to five. The increasing number of traditional finance firms seeking to offer XRP investment products suggests growing institutional interest.
The legal landscape for Ripple, XRP’s parent company, shows signs of improvement. Market observers note the possibility that the SEC might drop its appeal against Ripple, which could remove a key source of uncertainty that has historically impacted XRP’s price movement.
The RSI (Relative Strength Index) currently sits at 48, indicating neutral market conditions. This technical indicator suggests room for movement in either direction, without showing overbought or oversold conditions.
Trading data reveals XRP’s price evolution since its inception. From its lowest recorded value of $0.002686 on May 22, 2014, to its current level above $3, the cryptocurrency has demonstrated substantial price appreciation over its history.
The current circulating supply creates a market cap to fully diluted valuation (FDV) ratio of 0.58, indicating that more than half of the total possible supply is already in circulation. The fully diluted valuation currently stands at $309.94 billion.
Recent monthly performance metrics show XRP has gained 36.9% over the past 30 days, maintaining steady upward momentum in early 2025.
The post XRP Price Predictions: Token Surges Past $3 as Analysts Eye $8-$30 Price Targets appeared first on Blockonomi.