financetom
Cryptocurrency
financetom
/
Cryptocurrency
/
Ripple Price Analysis: Key Support Breakdown May Push XRP to $2
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Ripple Price Analysis: Key Support Breakdown May Push XRP to $2
Jan 23, 2025 5:27 AM

Ripple’s price has been rallying aggressively since November last year as it managed to match its 2018 all-time high.

However, it failed to break above it and is currently struggling to continue higher.

By Edris Derakhshi (TradingRage)

The USDT Paired Chart

On the USDT pair, the third-largest cryptocurrency has regained bullish momentum since the beginning of 2025, after a month of consolidation in December.

Currently, the market is trying to maintain above the $3 resistance level. If successful, a record-breaking rally could begin for XRP. However, a drop back toward the $2.5 mark and even the $2 support level would be likely in case of a bearish rejection.

The BTC Paired Chart

The XRP/BTC chart also demonstrates an interesting price action, as a large ascending channel has been forming in the past couple of months.

Yet, with the price breaking above the 2800 SAT level, the market structure is in favor of a bullish continuation which could see the pattern getting broken to the upside. However, a retest of the 2800 SAT level is highly probable before further upward movement.

SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
How Lazarus Group Cashed Out $200 Million Of Stolen Crypto In Three Years: ZachXBT
How Lazarus Group Cashed Out $200 Million Of Stolen Crypto In Three Years: ZachXBT
Apr 29, 2024
On-chain sleuth ZachXBT has published a report on the history of Lazarus Group – the infamous North Korean hacking group responsible for some of the largest crypto thefts in the industry’s history. The article tracks 25 hacks affecting individuals and companies in crypto through which Lazarus laundered $200 million from digital assets to fiat between 2020 and 2023. Lazarus Group’s...
US Dollar Tanks Ahead of Fed Verdict, NFP Data
US Dollar Tanks Ahead of Fed Verdict, NFP Data
Apr 29, 2024
Most Read: Aussie Dollar Technical Analysis - AUD/USD, AUD/NZD, AUD/JPY Price Setups The U.S. dollar (DXY) sank at the start of the week, giving back a portion of Friday's gains, with the pullback likely attributed to a moderate drop in U.S. Treasury yields ahead of two hot-impact market events later in the week: the Federal Reserve's monetary policy announcement and...
Australia Gears Up for Bitcoin ETF Wave After US, Hong Kong Approvals
Australia Gears Up for Bitcoin ETF Wave After US, Hong Kong Approvals
Apr 29, 2024
Spot Bitcoin ETFs have caused a major stir in the cryptocurrency industry, unlike anything seen before. Following the US and Hong Kong, Australia is now gearing up for a series of launches of Bitcoin exchange-traded funds. The ASX has received applications from at least two organizations, and theres another one in the pipeline Australia Braces for Bitcoin ETF ASX Ltd.,...
Key Dogecoin (DOGE) Indicator Soars by Almost 15% in 90 Days: Details
Key Dogecoin (DOGE) Indicator Soars by Almost 15% in 90 Days: Details
Apr 29, 2024
TL;DR Dogecoin has experienced a 13.8% increase in non-empty wallets over three months, correlating with a temporary spike in its value. Analysts predict a potential significant rise in DOGEs price, with targets ranging up to $1, based on current trends and historical performance. DOGE Investors on the Rise Despite underperforming recently, some metrics related to Dogecoin have witnessed a solid...
Copyright 2023-2025 - www.financetom.com All Rights Reserved