Ripple’s price has been rallying aggressively since November last year as it managed to match its 2018 all-time high.
However, it failed to break above it and is currently struggling to continue higher.
By Edris Derakhshi (TradingRage)
The USDT Paired Chart
On the USDT pair, the third-largest cryptocurrency has regained bullish momentum since the beginning of 2025, after a month of consolidation in December.
Currently, the market is trying to maintain above the $3 resistance level. If successful, a record-breaking rally could begin for XRP. However, a drop back toward the $2.5 mark and even the $2 support level would be likely in case of a bearish rejection.
The BTC Paired Chart
The XRP/BTC chart also demonstrates an interesting price action, as a large ascending channel has been forming in the past couple of months.
Yet, with the price breaking above the 2800 SAT level, the market structure is in favor of a bullish continuation which could see the pattern getting broken to the upside. However, a retest of the 2800 SAT level is highly probable before further upward movement.
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Cryptocurrency charts by TradingView.
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https://cryptopotato.com/ripple-price-analysis-key-support-breakdown-may-push-xrp-to-2/
2025-01-23 13:14:45
