On the daily chart, XRP has been moving within a descending parallel channel since reaching a high of $2.90 on Dec. 13, 2024. Typically, such patterns are corrective and often precede a breakout.
Notably, the price has formed long lower wicks at the channel’s support line (white icons), suggesting that the support is holding firm. As of Jan. 6, XRP was testing the resistance trend line of the channel.
The Relative Strength Index (RSI) recently broke above a descending resistance trend line and has risen above 50, a level that often signals a potential breakout.
Additionally, the Moving Average Convergence/Divergence (MACD) has made a bullish cross, reinforcing the likelihood of further price movement to the upside.
Taken together, the daily chart suggests that XRP could break out of its current channel and potentially reach new highs in the near future.
Ripple capped off 2024 with positive developments, including the launch of RLUSD.
While there have been no major updates since Ripple CEO Brad Garlinghouse remains optimistic about XRP’s future, Garlinghouse believes 2025 will bring a bull market for XRP, largely thanks to Donald Trump.
He specifically pointed to the resignation of SEC Chairman Gary Gensler, which he believes would be particularly beneficial for Ripple and the broader crypto market.
Furthermore, Garlinghouse highlighted Ripple’s recent success in signing more U.S. deals in the past six weeks than in the previous six months.
What’s Next for XRP?
The wave count analysis provides further support for a bullish XRP price prediction. The most likely scenario suggests that XRP is completing wave four in a five-wave increase, with wave three being extended. Whether wave four forms in a triangle or a channel, the outcome remains the same.
If XRP breaks out of its current range, the price could rise to a top between $3.40 and $3.55. This range is determined by extending wave five to the same length as wave one, combined with the 1.61 external Fibonacci retracement of wave four.
However, a breakdown from the channel would invalidate the bullish scenario and could lead to a price drop toward $1.50.
XRP Above $3
The XRP price is attempting a breakout from a 35-day resistance. If successful, the price can increase to $3.40-$3.55, reaching a new all-time high.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
