XRP Price Breaks $3 Barrier After 7 Years, Now Just 10% Away From Record High

Key Takeaways

• Today, XRP reached its highest price since January 2018.
• The price trades less than 10% below its all-time high.
• Will XRP reach a new all-time high this week?

After consolidating for over three years, XRP started a parabolic rally in November 2024, surging over 500% since, reaching the highest price since January 2018.

The growth caused XRP to surpass Tether (USDT) , becoming the third-largest cryptocurrency by its market capitalization.

As of the time of writing, XRP trades less than 10% below its all-time high. Can XRP maintain its momentum and reach new highs, and what are the next targets if it does? Let’s look at the charts and find out.

XRP Price Breaks Out

The XRP price fell after reaching a high of $2.90 on Dec. 3, 2024. The correction was contained inside a symmetrical triangle, which is considered a neutral pattern.

However, since the triangle transpired after an upward movement, it likely led to a breakout, as happened on Jan. 2, 2025.

Then, XRP validated the triangle as support (white icon) before resuming its ascent. On Jan. 15, XRP reached a high of $3.20, the highest price since January 2018, when XRP reached its all-time high of $3.33.

Technical indicators do not show any weakness. On the contrary, the Relative Strength Index (RSI) just crossed above 70 while the Moving Average Convergence/Divergence (MACD) made a bullish cross and is positive.

While potential bearish divergences develop, they depend on where XRP reaches its top.  So, the daily time frame readings suggest that XRP will reach a new all-time high price soon.

The wave count can help determine the targets after it does.

What’s Next?

The long-term wave count aligns with the positive price action, giving a bullish XRP prediction. According to the count, XRP is in wave C of an A-B-C correction that started in March 2020 (white).

Wave B developed into a symmetrical triangle, the breakout above, which greatly accelerated the rate of increase.

The long-term count suggests the most likely area for a top is between $5.14 and $5.24. The area is created by the 1.61 external Fibonacci retracement of the drop (black) and by giving wave C 0.618 times the length of wave A.

The short-term count is positive but less bullish than the long-term one. According to it, the five-wave upward movement that creates wave C is ending, since XRP is in wave five. The symmetrical triangle in wave four characterizes this count.

According to the count, the most likely area for a top is lower, being at $3.55-$3.60. The area is created by giving wave five the same length as wave one and by the 1.61 external Fibonacci retracement of wave four.

So, the price action, long- and short-term wave counts all align, predicting a new XRP all-time high. Where they differ is in the targets, so the reaction once XRP gets to $3.55-$3.60 will be key to determining if the final portion of the increase will extend or not.

New XRP All-Time High

XRP will likely continue its ascent and reach a new all-time high price soon. The first target for a top is at $3.55-$3.60 while the second is at $5.30-$5.40. Afterward, a lengthy correction could follow.