XRP’s December close above $2.2 is critical for a bullish January 2025, avoiding bearish formations like Hanging Man or Doji.
A weekly close above $2.44 could spark explosive growth in early 2025, while $2 support keeps XRP’s bullish structure intact.
Lower timeframes highlight battles at $2.53–$2.17, with Bollinger Bands and Elliott Wave patterns signaling an imminent breakout.
XRP shows potential for a bullish breakout across multiple timeframes, according to analyst EGRAG Crypto in an X post. The December monthly close is pivotal, with bullish candle formations indicating strong momentum into January 2025. As long as the monthly candle avoids bearish patterns like Hanging Man or Gravestone Doji and stays above $2.2, XRP could rally.
https://twitter.com/egragcrypto/status/1868605136647414102
Weekly Timeframe: Bulls Eyeing Key Resistance
The weekly timeframe offers crucial insights into XRP’s trajectory. The last week’s candle highlighted strong bullish activity, with buyers absorbing every dip. However, the current weekly candle opened below the previous close, raising concerns.
Significantly, if XRP closes above $2.44 this week, explosive growth is expected in January and February 2025. Conversely, failure to close above this level could lead to extended range. Key support at $2 remains intact, maintaining the overall bullish structure.
Lower Timeframes: Bulls and Bears Clash
In the 3-day timeframe, the price battle intensifies between $2.53 and $2.17. The next move depends on which side secures a full-body candle close. Notably, bulls defended the $2 level on December 2, suggesting resilience. The daily chart also signals optimism, with a potential target between $7.5 and $8.1. However, this projection hinges on Bitcoin hitting $120K–$130K first. Until then, XRP may continue consolidating.
On the 8-hour chart, the ADX indicator reveals a bullish setup as the red line sits below the green line. Furthermore, the 2-hour timeframe shows XRP near its lower Bollinger Band, indicating an imminent breakout. Key moves in Waves 3 and 5 of the ongoing Elliott Wave pattern are expected to be explosive. Additionally, the Bollinger Bands’ squeeze points to heightened volatility ahead.
