As XRP recovers from a notable dip in mid-December, technical analysis signals strong potential for further growth. Currently valued at approximately $3.23, XRP is positioned among the most robust performers in the cryptocurrency market, boasting an impressive 43% gain over the past month. 

This price resurgence has propelled the market’s second-largest altcoin to a seven-year high, inching closer to its previous price record of $3.40, set in 2018.

Bullish Projections For XRP Price 

In a recent social media update on X (Formerly Twitter), market analyst Ali Martinez highlights the significance of XRP’s recent breakout from a month-long consolidation phase between $1.90 and $2.60. 

Martinez notes that this price breakout has occurred within a symmetrical triangle pattern on the weekly chart, suggesting an optimistic trajectory for the altcoin.

The analyst projects a possible price target of $15 for XRP, which would represent a staggering increase of over 365% from its current valuation.

Supporting this bullish outlook, XForceGlobal proposed a range of final targets for XRP, estimating potential prices between $7 and $12, with more ambitious projections reaching $20 to $40 and two potential routes for the altcoin’s price:

• Slower Route: This scenario anticipates a five-wave minor degree into an intermediate degree wave, followed by a wave 1-2 pullback. 

If XRP can manage a controlled pullback in this phase, it would create a favorable environment for further bullish action. While this route may involve a deeper correction, the analyst asserts it ultimately promises the greatest rewards for long-term holders.

• Faster Route: In this scenario, the current five-wave ascent may already be part of a larger primary wave 5. While this route could still lead XRP to significant price levels around $7 to $12, it also suggests that the bull market may soon reach its conclusion.

Expert Warns Of Potential Correction March

Despite the optimistic projections, some experts, like Egrag Crypto, caution investors to remain vigilant. Egrag predicts a significant market correction could occur in March 2025. 

However, the expert also emphasizes that the Relative Strength Index (RSI) remains bullish, indicating that XRP still has room for growth in the short term. He anticipates that XRP may reach price levels between $4 and $5 before any potential downturn.

All around, XRP stands at a pivotal moment, and its journey from here could redefine its standing in the market. Whether through slower or faster routes, the future looks bright for XRP holders, provided they navigate the anticipated volatility with care.

At the time of writing, the altcoin is down a slight 1.3% on the 24-hour time frame, trading at $3.23. 

Featured image from DALL-E, chart from TradingView.com 

Crypto analyst Tony Severino has provided some insights into the current Bitcoin price action. He revealed that the Bitcoin upper hand has moved above $105,400 and hinted at where the flagship crypto could be heading next.

What’s Next For Bitcoin Price As Upper Band Moves Above $105,400?

In an X post, Severino revealed that Bitcoin’s upper band is now above $105,400. With this development, he alluded to a previous analysis in which he revealed what could happen once the price breaks above $105,400. In the analysis, the crypto analyst mentioned that things could get interesting once BTC breaks above $105,400.

He then predicted that Bitcoin could rally to as high as $170,000. The analyst made this prediction while revealing how BTC witnessed a 90% surge from the wick low at the lower band to the local high. This happened the last time the flagship crypto got a head fake to the lower band before moving to the upper band.

Based on this trend, Severino believes the Bitcoin price could record another 90% surge and rally to as high as $170,000. This price target is significant as it could mark the top for the flagship crypto. The crypto analyst mentioned that the cycle top for Bitcoin can be discussed once BTC reaches this $170,000 target.

However, market experts like Standard Chartered have suggested that Bitcoin could rally beyond this $170,000 target. The financial institution predicted that a rally to $200,000 by year-end is achievable. Bernstein analysts also described a rally to $200,000 by year-end as conservative, meaning Bitcoin could rally higher. 

This bullish outlook for Bitcoin mainly stems from the fact that Donald Trump is set to take office on January 20. The pro-crypto US president-elect is expected to implement a Strategic Bitcoin Reserve for the country, which will boost the flagship crypto’s adoption.  

BTC Not Far Away From A New All-Time High 

Crypto analyst Rekt Capital has suggested that Bitcoin will soon reach a new all-time high (ATH). In an X post, he stated that BTC is one daily resistance away from breaking out to a new ATH yet again. The crypto analyst added that a daily close above the final resistance followed by a post-breakout retest would be enough to launch the flagship crypto into price discovery.  

Until then, Rekt Capital mentioned that Bitcoin would continue to range between $101,000 and $106,000. Crypto analyst Titan of Crypto offered a more optimistic outlook for the BTC, stating that the flagship crypto has started its rally. He remarked that, as anticipated, the crypto has broken through resistance and is now primed for a strong rally. 

At the time of writing, Bitcoin was trading at around $103,509, up in the last 24 hours, according to data from CoinMarketCap. 

Featured image from Pexels, chart from TradingView