XRP price is currently forming a promising technical setup, supported by a significant increase in open interest and robust technical indicators. Analysts predict an ambitious target of $15 as the crypto market shows signs of growing strength.
Crypto XRP ready for a spectacular jump
XRP is showing remarkable performance at the start of 2025, with an appreciation of 15% over the last seven days to reach $2.44 on January 6. This progression is a continuation of the December rally which took the asset towards $3.
Open interest in XRP jumped by 45% in the last 24 hoursincreasing from $2.6 billion to $3.7 billion, signaling a significant accumulation of positions by institutional investors. Historically, such increases have preceded major rallies, such as in July 2023 where a similar rise in open interest catalyzed a 107% advance in price.
This dynamic is part of a context of growing adoption, particularly illustrated by recent developments in Japanwhere the banking industry is actively exploring the integration of Ripple technology. The prospect of a crypto-friendly Trump administration is also boosting positive investor sentiment.
The sustained increase in trading volumes and the proliferation of strategic partnerships create an environment particularly conducive to significant appreciation of XRP.
Bullish technical signal suggests 520% potential
Technical analysis of the XRP/USD daily chart reveals the formation of a classic uptrend, a pattern that targets $15, representing a 520% upside potential from current levels. The 50-day simple moving average offers strong support at $2.10, while the Relative Strength Index holds above the 50 level.
A daily close above $2.41 would confirm the breakout of the current price structure and open the way towards the $15 target. This technical projection aligns with the forecasts of major industry analysts, including Egrag Crypto who, using Elliott Wave Theory combined with Fibonacci levels, anticipates reaching $15 by May 5, 2025.
The growing institutional adoption of XRP, particularly in the Asian banking sector, adds credibility to these bullish projections. With a market capitalization that could increase by tens of billions of dollars, XRP seems well positioned for a new phase of expansion.
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