XRP Price Skyrockets 10%; Is a New All-Time High on the Horizon?

Highlights:

• XRP forms a bullish breakout triangle, targeting the $4 resistance level.
• Whale wallets accumulated 120 million XRP, reflecting growing investor confidence.
• Ripple price surged by 10% in the past 24 hours after a market recovery.

XRP price rebounded with a 12% surge, outperforming major cryptocurrencies and regaining momentum after a week of volatility. Over the past 24 hours, the Ripple experienced a significant price increase, aligning with the broader market recovery. The BTC price surpassing $100k fueled optimism across the crypto space. Questions now arise about whether XRP could revisit its previous all-time high as market sentiment improves.

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Will XRP Price Hit ATH?

XRP price has surged 500% in recent years, aiming for an all-time high after a market recovery. The token previously peaked at $3.84 on January 4, 2018. Meanwhile, the global crypto market cap stands at $3.5 trillion, reflecting a 3.72% daily increase. The total 24-hour trading volume is $147.44 B, while Bitcoin price hovers above $102K, signaling strong market momentum.

Analyst Eye $4 Milestone for XRP Price

Crypto analysts tweeted that the XRP price is showing signs of breaking out, with $4 being the anticipated next price target. The tweet featured a technical chart indicating a bullish breakout pattern, suggesting potential upward momentum for the cryptocurrency.

XRP has formed a consolidation triangle after rallying recently. The breakout signals put pressure on the buyers, and analysts cited $4 as a possible turning point. This has raised a lot of cheers for XRP investors as they keenly observe the price change of the token.

$XRP breaking out

$4 is next level 🚀 pic.twitter.com/DWUbkVwXI6

— Mikybull 🐂Crypto (@MikybullCrypto) January 28, 2025

Whales Accumulate 120M XRP Amid Price Rebound

The XRP price has been on the spotlight after Whales bought 120 million tokens during the recent market dip. This huge purchase indicates that more and more institutional investors are becoming optimistic about the future of XRP.

An analysis of on-chain data shows that these transactions were executed during a bear market, which shows that investors were buying the dips. Whale wallets that hold 10 million to 100 million XRP have also been seen to have up their holdings. This trend is also in line with the developments on the broader market, where institutional investors buy at a low price.

Whales bought 120 million $XRP in the recent price dip! pic.twitter.com/hDVAshQHQw

— Ali (@ali_charts) January 27, 2025

Ripple Price Eyes Resistance Amid Strong Rebound

At the time of writing, the XRP price hovered at $3.17, making a strong recovery of 10% during the U.S. time frame. The recent price movement signals growing bullish momentum, with XRP approaching critical resistance levels that could determine its next move.

XRP has rebounded sharply after a brief pullback, maintaining its position above the $3.00 psychological level. The cryptocurrency has been trading within a consolidation range, with bulls and bears struggling to gain momentum.

The support zone at $2.9 remains a crucial level for bullish continuation. If XRP sustains its upward trajectory and surpasses $3.5, a break above these levels could trigger a rally toward its all-time high of $3.8 and $4.00, potentially leading to a price surge.

The Relative Strength Index (RSI) currently stands at 63.77, suggesting XRP is nearing overbought conditions but still has room for further gains. A sustained RSI above 66.81 could signal increased buying pressure, paving the way for further upside movement.

The Moving Average Convergence Divergence (MACD) shows a slight bullish crossover. The MACD line 0.1907 is trending above the signal line 0.2087. This development indicates a potential continuation of the bullish trend, provided XRP maintains its current momentum.

If the price of XRP is unable to go above $3.2 it may consolidate between $3.00 and $3.10 waiting for further impulse. In case it falls to $3.00 it could retest the $2.50 support level before attempting to rise again.

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