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The XRP price plunged 3% in the last 24 hours to trade at $2.57 as of 11:28 p.m. EST on trading volume that rose 48% to $5.2 billion.
The Ripple token’s performance continues to be volatile, driven by shifting sentiment around the Securities and Exchange Commission (SEC) case against the sale of XRP.
Much of XRP’s recent strength comes from speculation that the SEC may abandon its appeal, allowing Ripple to operate without looming legal threats.
Arthur Azizov, CEO at the crypto business B2BinPay, bullishly believes that XRP could reach a price range of $5 to $7 in the first half of 2025.
Despite being the 3rd largest cryptocurrency by market cap (excluding Tether as a stable coin), no mention of XRP below. I’m surprised considering XRP is one of the few cryptocurrencies to finish December trading in the green.
I don’t do price predictions but Barron’s recently… https://t.co/scamKncLKT
— John E Deaton (@JohnEDeaton1) January 1, 2025
XRP Price Could Sustain Its Rally Within The Rising Channel
The XRP price has been trading within an ascending channel on the 12-hour timeframe.
The Ripple token price surged dramatically in late 2024 and has since been consolidating within this upward-sloping structure. The current price of $2.5759 is slightly below the midline of this channel, suggesting ongoing market indecision.
The 50-day Simple Moving Average (SMA) at $2.6472 is acting as dynamic resistance, while the 200-period SMA at $2.3588 is serving as strong long-term support. The recent price action shows a bounce off the lower boundary of the channel, indicating that bulls are defending this level.
Meanwhile, the Relative Strength Index (RSI) is at 46.03, slightly below the neutral 50 level. This suggests a balance between bullish and bearish momentum, with no clear dominance from either side. If RSI moves above 50, it could confirm renewed bullish strength.
XRP/USDT Chart Analysis (Tradingview)
Ripple Token Price Prediction
The overall trend remains bullish as long as the XRP price stays within the ascending channel. A break above $2.65 (50-day SMA) could lead to a move toward $3.00–$3.40, aligning with the upper channel resistance.
Intense bullish pressure and fundamental pressure could push the price of XRP towards the $10 mark.
However, if the price of XRP fails to hold the channel’s lower boundary and drops below the 200-day SMA at $2.35, this could trigger a bearish shift, possibly leading to a retest of $2.00.
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