As the market enters 2025, the cryptocurrency XRP, which has attracted global investor interest in recent months, has had a good start to the year.
The asset experienced an impressive surge of 11%, rising to about $2.42, a level not seen since the price adjustment at the end of 2024.
With increasing market confidence, analysts predict that XRP may reach $5.85.
According to CoinGecko data, this recovery has made XRP the third-largest cryptocurrency in the market, with a market capitalization of about $139 billion. Notably, it has surpassed Tether (USDT), which has a market capitalization of $137 billion.
The recent rise in XRP's price can be partially attributed to the significant shift in market sentiment following President Donald Trump's election on November 5.
Trump's victory has rekindled confidence in the digital asset industry, boosting investor optimism. This shift in sentiment seems to have catalyzed a wave of buying activity in the cryptocurrency market, benefiting not only XRP but other digital assets as well.
Cryptocurrency analysts have noted this trend. Notable figure in the cryptocurrency analysis field, DarkDefender, observed that XRP's price trend is impressive.
After hovering around $2.11, XRP broke through the initial resistance level of $2.22, reaching a high of $2.44. DarkDefender emphasized that $2.42 is a key resistance level, now updated to a new support level.
According to his analysis, if XRP can break through the range of $2.67 to $2.72, it will pave the way for a significant rise, with a target price as high as $5.85.
This potential increase would mean a 141% rise in price from current levels, setting a new historical high for the token.
Elliott Wave Theory points to a potential target of $10.
Another analyst named CryptoinsightUK evaluated the potential trends for XRP, believing that if XRP follows a moderate trend similar to previous price movements, it 'could easily exceed $10.'
He draws on Elliott Wave Theory, which suggests that market trends change in waves, and believes that if XRP enters a 'Wave 3' scenario (which is typically the most significant price movement scenario), the asset's price could exceed $10.
CryptoinsightUK pointed out that many investors aim for the $8 mark, and he considers this figure reasonable based on various indicators.
By analyzing price trends and potential gains, analysts believe the outlook for altcoins is bright, with many indicators pointing to significant growth.
With the arrival of 2025, XRP's impressive start and broader market dynamics suggest that we may be on the verge of a significant shift in the cryptocurrency landscape.
Political changes and market sentiment are likely to lay the foundation for a new era of growth for XRP and the entire cryptocurrency market.
XRP is trading at $2.42, up 2% in the past 24 hours. In terms of trading volume, CoinGecko data shows a decrease of nearly 42%, totaling $5.6 billion.
