Here’s How High XRP Price Could Rally After Crossing $3
The XRP has left its bullish price rally and entered a consolidation earlier. Although the Ripple token shows a bullish signal, the fundamental momentum has remained absent. However, if the token surpassed the key resistance, it could achieve a new milestone. Interestingly, many crypto analysts have acknowledged the situation and presented a new Ripple price target after crossing $3. Let’s discuss.
XRP Price to Target $10 After Crossing $3
The Ripple token has significantly recovered after a shallow dip to $2.74 amid the US stock market crash. It currently trades at $3.10 after a 6% surge, with high investor interest. Based on this and the technical factors highlighting a bullish outlook, the XRP price can target the $4.6 level, extending as high as $5. The level between $4.6 and $5 represents a critical resistance zone, which could act as a profit zone if the investors act right.
According to XForceGlobal, a bounce from this level and the alignment of bullish factors may lead to the $8 mark. Although $8 seems like a big jump considering the historical levels and current performance, the technical chart shows this possibility with the right trend. Moreover, many crypto analysts have anticipated a $8-$10 ATH position for the XRP price.
Over a longer timeframe, a $10 valuation remains feasible but would require a 222% rally. This could only be possible under the bull run or Donald Trump approving the XRP reserve.
However, consolidation and trend reversal are inevitable due to the changing investor sentiments and global market performance.
Technicals Suggest Price Could Revisit $3.37
Although the Ripple token has significantly recovered today, and technical charts show a rally to $4.6-$5, a trend reversal could occur. Due to massive liquidation in short positions, the XRP price could revisit the $3.37 level. According to the Coinglass derivative data, around $340M shorts may be liquidated on exchanges like Binance, Bybit, and others, disturbing the price rally.
However, once the liquidation settles, it could generate substantial buying pressure, eventually pushing the Ripple price higher. This way, $3.37 can act as a pivot or a crucial short-term target where investors can capitalize on the market movements.
Ripple CEO Wants XRP in Digital Asset Reserve
Along with the Bitcoin reserve, the crypto community also shows interest in the XRP reserve. The polymarket data show 16% odds favoring the approval, which is significant but had grown to as high as 47% on January 21, past Donald Trump’s inauguration day.
Interestingly, the Ripple CEO also met Donald Trump, and soon after, Trump approved a national digital asset stockpile instead of the Bitcoin reserve. This decision seemed to favor Ripple more, creating suspicion of an inner partnership, primarily due to Ripple’s donations.
Amid users’ suspicions that these events favor an XRP reserve, CEO Brad Garlinghouse commented on the need for one in the future digital asset market. In an X post, he highlighted the need to choose an asset representing the entire crypto industry, not just one token.
If a government digital asset reserve is created — I believe it should be representative of the industry, not just one token.
Although not directly, critics see Ripple’s efforts in positioning XRP as the key component of the global digital financial system. Significant development and partnerships could help make this happen.
What’s In There For You?
XRP has entered a critical phase, where a significant above move of $3 could push the price as high as $8. This will likely happen with the technical indicators showing bullish momentum, where $3.37 is the ideal short-term target. The exact target could pivot to higher highs like $4.6, $5, $8, and $10 in the most optimistic conditions like XRP reserve formation. As Ripple CEO Brad Garlingouse said, only a digital asset representing the entire industry is the ideal placement for reserve. That puts only Bitcoin, XRP, and a few others in the spotlight. Investors should carefully monitor the Ripple token, especially as the bullish momentum is building.
The post Here’s How High XRP Price Could Rally After Crossing $3 appeared first on CoinGape.
Filed under: News - @ January 28, 2025 8:38 am