XRP Price Could Retract to $2.05 Before Rallying to $11, Analyst Predicts

Highlights:

• The expert says XRP is consolidating in a bull pennant, with resistance at $2.73.
• A breakout could push the XRP price to $11.
• XRP’s growing presence in South Korea boosts its market dominance, surpassing Bitcoin’s volume.

On Jan. 4, crypto expert Ali Martinez tweeted that XRP is consolidating within a bull pennant pattern. He noted that the token faces resistance at $2.73. Breaking this level is crucial for further gains. If XRP can’t surpass this resistance, a pullback to $2.05 is possible. 

Despite short-term obstacles, the overall outlook remains positive. Martinez pointed out that a breakout from the pennant might drive XRP to $11. Bull pennants usually mean accumulation followed by big price movements. Meanwhile, the increasing bullish sentiment in the crypto market boosts XRP. This projection highlights the token’s solid fundamentals and renewed investor confidence in the overall market.

$XRP is still consolidating within the pennant of a massive bull pennant pattern. Until the $2.73 resistance is broken, a pullback to $2.05 remains possible before a potential breakout to $11! pic.twitter.com/ET39FJMtAc

— Ali (@ali_charts) January 4, 2025

The warning about a potential short-term pullback in XRP price aligns with the broader market sentiment. This is especially relevant as the US Securities and Exchange Commission’s (SEC) deadline to file the opening brief in the Ripple vs. SEC lawsuit is fast approaching. Many experts predict that SEC Chair Gary Gensler will file the brief before retiring later this month. This development could affect the token’s price trajectory. However, market sentiment stays positive for XRP long-term. 

The hope for positive crypto changes under Donald Trump and SEC Chair Paul Atkins has boosted sentiment. XRP is a top contender for major crypto ETF launches this year. Polymarket data shows that the chances of an XRP ETF approval this year have reached 71%. The poll, launched just a few days ago, has seen strong bets from the crypto community.

XRP Price Surge and 2025 Forecast

XRP saw a big bullish surge this month, with experts predicting a rise to $7 or even $20 by year-end. Currently at $2.38, XRP has gained 9.04% in the past week and 0.13% in the last 24 hours. This growth follows a rally that started during the New Year.

A prominent XRP figure, “The Modern Investor,” shared an optimistic outlook for this year. He believes the worst-case scenario for XRP is $7. However, the coin could potentially reach $16 to $20 in a more favorable scenario. The analyst also mentioned that the XRP price could hit $10 soon.

XRP’s Growing Presence in South Korea

Recent data shows XRP’s rising prominence, especially in South Korea’s crypto market. XRP recently outpaced Bitcoin in trading volume on exchanges like Upbit. On Upbit, XRP’s trading volume reached $606 million, almost three times higher than Bitcoin’s $246 million. This trend was also seen on other major South Korean platforms like Bithumb and Coinone.

Moreover, Ripple CEO Brad Garlinghouse recently tweeted about the growing energy in the industry. He believes “the journey is just beginning.” He also highlighted a key moment: The U.S. welcomes the 119th Congress. This Congress is considered the most pro-crypto in history.

Today, here in the US, we welcomed the 119th Congress—better known as the most pro-crypto Congress in history.

The journey is just beginning, but you can’t deny the energy & excitement already building across the industry. Let’s get to work.

— Brad Garlinghouse (@bgarlinghouse) January 3, 2025