Here’s Why XRP Price Skyrockets 15% Today, What’s Next?

Ripple’s native crypto XRP has witnessed a strong surge gaining 15% in the last 24 hours while setting the stage for a rally to $3 and above. Today’s XRP price surge to $2.42 comes along with a 120% surge in the daily trading volume reaching over $10 billion showing strong bullish momentum. The surge comes as the bulls defended the $2.0 support following the recent crypto market correction. Popular analysts predict a surge to $13 and beyond. Furthermore, Ripple CEO Brad Garlinghouse has hinted at working on real-world utility as we head into 2025. Where Is XRP Price Heading Next? With Ripple bulls stepping in, the XRP price daily close above $2.12 confirms that the bullish action remains intact for the Ripple cryptocurrency. Crypto analyst EGRAG Crypto has identified critical resistance levels to monitor in the coming sessions: $2.60, $2.65 and $2.75. Breaking through these thresholds could pave the way for higher price targets, potentially signaling a bullish breakout above $3. Additionally, the XRP whale activity could support the broader momentum. Source: EGRAG Crypto Moving into 2025, market analysts remain bullish on the Ripple cryptocurrency predicting double-digit price targets and new all-time highs above $10. With the expectation that the XRP lawsuit will end soon , analysts are overly bullish for the altcoin based on its technical setup. On a multi-year chart, XRP price is eyeing a breakout from the flag-and-pole pattern. Crypto analyst Tony has highlighted a potential bull flag pattern in XRP, suggesting a target of $13 if the formation holds true. While acknowledging that this level exceeds his primary targets, Tony noted that such a move, though ambitious, is not entirely impossible in a strong bullish scenario. Source: TradingView Ripple Is Betting on Donald Trump’s Swearing in? With the start of the New Year 2025, Ripple Labs has released a total of 500 million XRP from the escrow but with a special note. The memo for this transfer reads: “January 20th is around the corner. Donald Trump will be in the WH, and we are going to make crypto great again!” Ripple committed XRP worth $5 million for Trump’s inauguration. Source: JackTheRippler Ripple, which routinely unlocks 1 billion XRP tokens, will initiate the second batch of releases later today. Today’s XRP price surge has led to strong liquidations for the altcoin. As per the Coinglass data , the XRP open interest is up by 28% to $2.5 billion, while the 24-hour liquidations have soared to $14.38 million with nearly $12 million in short liquidations. The post Here’s Why XRP Price Skyrockets 15% Today, What’s Next? appeared first on CoinGape .