XRP Price Breaks 8-Year Downtrend Against Bitcoin, Speculators Target $14
XRP (XRP) led the broader crypto market with a 12 percent jump in the past 24 hours to bring its gains since early November 2024 to 466 percent.
A quick recovery from the January 3 low of $2.20 has led analysts to say that XRP's price is set to rally into double digits this year.
XRP/USD Daily Chart. Source: Cointelegraph/TradingView
XRP/BTC breaks above 8-year resistance
XRP has underperformed Bitcoin since the 2017 bull cycle before regaining its footing in late 2024.
With a weekly close above 0.000015 in the last week of November 2024, the XRP/BTC pair broke above its multi-year downtrend. Note that this line has been used as a resistance for the pair since 2017.
Data from Cointelegraph Markets Pro and TradingView show that XRP/BTC closed the week of January 12 at 0.000026, the highest weekly candle since October 2022.
XRP/BTC Weekly Chart. Source: Cointelegraph/TradingView
Market analysts expect a continued performance of XRP against BTC from the high target of 0.000245 reached in May 2017.
“Exit for XRP on strong volume against Bitcoin pair,” XRP analyst Steph Is Crypto said in a Jan. 14 post on X.
Based on his analysis of the XRP/USD pair in the monthly timeframe, the analyst added;
“I expect XRP to outperform Bitcoin by at least 538% in the coming months.”
XRP/BTC Monthly Chart. Source: Steph Is Crypto
The reason stems from the market segmentation on the monthly chart, which is currently playing out the basis of XRP's 2017 bull run.
Overall, XRP's current price action against BTC indicates that the market is paying more attention to the altcoin as it reaches its all-time high of $3.84 in 2018.
XRP holders will grow in number.
In addition to the favorable market structure, the XRP ecosystem has seen a series of positive events that have attracted much speculation.
RELATED: XRP Rises 12% As Whales Continue ‘Big Accumulation' – Coin
A chart shared by market intelligence firm Sentiment shows that the total amount of XRP holders has grown by 58,000 since the start of 2025.
Total non-empty wallets for high crypto assets. Source: Santiment
The significant increase in the number of XRP owners shows that “the community is comfortable with the project for a long time,” Santiment said in a related note.
The price of XRP comes out of the amazing coin
On January 11, XRP's rise above the $2.50 psychological level saw the price break higher, according to independent trader Mikybull Crypto.
Pennant, which has been active since December 2, 2024, has a short-term target of $3.70 based on Fibonacci retracement levels, according to Mikybull Crypto Analysis. This represents a 32% increase from the current price of $2.85.
Beyond that, the analyst sets the explosive pump up to high and beyond.
«$XRP has started a train to new all-time highs. The giant pump will be televised by the media.
XRP/USD Daily Chart. Source: Mikybull Crypto
For Steph Ice Crypto, the bullish pennant is part of a massive bullish pennant that has been running since November 5, 2024. His analysis places a bullish flag technical breakout target above $14, a 390% upside from current levels.
Source: Steph Is Crypto
The inauguration of President Trump on January 20 could be another boost for XRP, which could see the confirmation of spot XRP ETFs in the US.
This could attract $4 billion to $8 billion in net new assets, according to JPMorgan.
This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.
