XRP is up 160% this year; Will it reach an all-time high in 2025?

XRP is up 160% this year; Will it reach an all-time high in 2025? XRP is up 160% this year; Will it reach an all-time high in 2025? Aneena Alex Cryptocurrency Nov 29, 2024

XRP has been one of the standout performers in the cryptocurrency market in 2024, soaring 160% year-to-date.

Currently trading at $1.66, the token has gained 12% in the past 24 hours and 17% over the past week, sparking speculation about whether it can surpass its all-time high of $3.84 by 2025.

XRP seven-day price chart. Source: Finbold

Notably, in a TradingView analysis on November 29, analyst RLinda suggested that XRP may be gearing up for a major breakout.

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Technical analysis and key levels to watch

The analysis notes that the token is in a consolidation phase following its recent rally, with no signs of reversal or decline, signaling that the price is building momentum for continued growth.

XRP price analysis. Source: RLinda/TradingView

Key resistance levels at $1.523 and $1.630 are critical to watch for XRP’s upward trajectory. RLinda noted that a breakout and consolidation above these levels could trigger aggressive buying, potentially igniting a fresh bullish wave. 

However, the analysis also warned of potential headwinds from Bitcoin’s local corrections, which could pressure XRP to retest support at $1.4116, an important level from September 2021 or even $1.2775 at the lower consolidation boundary.

With XRP trading above both identified resistance levels, the market appears to be testing bullish territory. If the token sustains its upward momentum and avoids significant pullbacks, it could be positioned for another impulse higher, aligning with RLinda’s optimistic outlook.

Factors driving XRP’s momentum

Ripple has been actively positioning itself for long-term growth, both in terms of market sentiment and regulatory clarity. 

On November 27, Ripple co-founder Brad Garlinghouse announced a $25 million donation to Fairshake PAC, a political organization supporting pro-crypto candidates under the incoming Trump administration.

Notably, over the last four years, Ripple faced intense regulatory scrutiny under the outgoing US SEC regime led by Gary Gensler. The donation is widely seen as an effort to build stronger ties with policymakers.

The announcement had an immediate impact on market sentiment. After a tough start to the week, during which XRP suffered a four-day losing streak and hit a low of $1.29 on November 26, the news spurred a bullish reversal.

Investors responded positively, reflecting renewed confidence in Ripple’s ability to navigate regulatory headwinds and reinforce its standing in the crypto market.

Ripple’s legal victories against the SEC remain a pivotal factor driving XRP’s bullish momentum. The California District Court recently approved a motion to amend the order related to the judgment and stay in the XRP lawsuit. 

This development has brought the protracted legal battle closer to resolution, significantly enhancing market optimism.

Adding to the positive sentiment, recent whale activity has reinforced confidence in XRP. On-chain data from analyst Ali Martinez revealed that whales have accumulated over $50 million worth of XRP, indicating strong institutional interest and long-term confidence in the token.

Moreover, the approval of an XRP ETF filing by WisdomTree holds the potential to attract substantial institutional investments, providing additional fuel to XRP’s ongoing rally and strengthening its market position.

Can XRP reach an all-time high in 2025?

While XRP’s ATH of $3.84, set in 2018, remains a significant milestone, the path to reclaiming and surpassing it depends on several factors. Analysts like MikybullCrypto project that XRP could first reach $2, face a short-term pullback, and then resume its upward trajectory, potentially climbing to a new cycle high of $10.

However, this hinges on sustained bullish momentum, broader market recovery, and Bitcoin’s ability to maintain its upward trend. On December 1, Ripple will unlock 1 billion XRP from its monthly escrows, valued at $1.66 billion.

For now, the overall positive sentiment positions XRP for continued growth. Breaking through key resistance levels and maintaining alignment with broader market trends will be critical in determining whether XRP can achieve a new high by 2025.

Featured image from Shutterstock.

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Updated: 11/29/2024 — 11:00 AM

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