XRP (XRP) has kickstarted 2025 in constructive territory, rising over 5% year-to-date to succeed in $2.46 on Jan. 7. The cryptocurrency may preserve climbing additional, with technical outlooks suggesting the identical.
Bull flag setup may lead to XRP worth rising 70%
XRP’s worth has been forming a textbook bull flag pattern on the day by day chart, characterised by a downward-sloping channel, signaling a brief pause within the bullish momentum after its 105% enhance in November and December.
XRP is now buying and selling close to $2.42, testing the sample’s higher boundary. A breakout above this stage may affirm the bull flag and pave the way in which for additional upside towards the extent at a size equal to the earlier uptrend’s peak.
XRP/USD day by day worth chart. Supply: TradingView
This projection factors to a transfer towards $4.17, indicating a doable 72% rally by February from present ranges.
Technical indicators help the bullish thesis. XRP’s relative power index (RSI) sits close to 60, suggesting enough room for upward momentum.
In the meantime, the worth stays above its 50-day exponential shifting common (50-day EMA; the purple wave) round $2.03, reinforcing the case for a breakout because the EMA acts as a robust help stage.
Equally, one other analyst, Mikybull, supports the bullish outlook for XRP, citing an identical bull flag formation. Primarily based on Fibonacci extension ranges, the analyst sees XRP instantly rallying towards $3.74 after confirming the breakout.
XRP’s half-mast flag indicators 260% surge
Veteran dealer Peter Brandt speculates that XRP’s market cap may rise to $500 billion, akin to a 262% worth enhance, setting a goal of $6.40 per token.
On the core of Brandt’s bullish outlook is a half-mast flag. This sample usually emerges as a consolidation section in the course of a robust development, doubtlessly leading to both a bullish continuation or a bearish reversal.
XRP market cap weekly chart. Supply: Peter Brandt
Brandt speculates that XRP’s market cap may rise to $500 billion if the flag performs out to the upside. He suggests the sample ought to be accomplished inside six weeks of its formation, warning that failure to take action may see it evolve right into a much less predictable construction.
As of Jan. 7, the half-mast flag had entered its sixth week of consolidation.
XRP OI leap raises 100% worth rise potential
XRP’s bullish outlook is bolstered by a pointy rise in open curiosity (OI) — to $4.49 billion on Jan. 7 from $2.71 billion a day prior, in keeping with CoinGlass information.
A rising OI signifies that merchants are actively opening new positions, which, coupled with XRP’s positive funding rates, replicate a robust expectation of additional upside within the cryptocurrency’s worth.
XRP Futures open curiosity. Supply: CoinGlass
Previous situations reinforce this correlation. For instance, between July 13 and July 14, 2023, XRP’s OI spiked by over 100%, which coincided with a 107% worth surge.
Associated: XRP price chart ‘bull flag’ targets $15 amid increasing open interest
One other notable instance occurred from Nov. 29 to Dec. 3, 2024, when XRP’s OI rose by 76%. This enhance was accompanied by a 100% worth rally over the identical interval, additional highlighting the connection between rising OI and explosive worth actions.
If historical past repeats itself, this surge in OI may propel XRP by one other 100%, reaching $4.90 by March.
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer includes danger, and readers ought to conduct their very own analysis when making a choice.
