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As i the market enters 2025, XRP, i crypto currency that you have collected global the investor interest in the middle the latter months, has he started i a year differently well.
The stock had an impressive 11% increase, pushing its price to around $2.42, a level not seen since late 2024. price adjustment.
Analysts Predict XRP Could Reach $5.85 As Market Confidence Grows
This resurgence has placed XRP as the third largest cryptocurrency market, with a market capitalization of approximately $139 billion, according to CoinGecko. data. Notably, it surpassed the market cap of Tether (USDT), which stands at $137 billion.
The recent rally in the price of XRP can be partially attributed to the broader shift in market sentiment following the election of President Donald Trump on November 5th.
Trump’s victory has sparked renewed confidence in the digital asset industry, leading to increased optimism among investors. This mood swings seems to have caused a wave of buying activity within the crypto market, benefiting not only XRP but other digital assets as well.
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Crypto analysts have noticed this trend. DarkDefender, a prominent figure in the crypto analysis community, looked at that the XRP price trajectory has been very positive.
After hovering around $2.11, XRP broke its initial resistance at $2.22 and reached as high as $2.44. DarkDefender highlighted $2.42 as a critical resistance level which has now been updated as a new support level.
According to his analysis, if XRP can break the $2.67 to $2.72 range, it could pave the way for a significant move to the upside, as high as $5.85.
This potential increase would represent an extraordinary increase of 141% from its current value, marking a new world class for a sign.
Elliott Wave Theory Points to Possible $10 Target
Adding to the hope, another analyst, known as CryptoinsightUK, has weighed in on the potential trajectory of XRP. he raised that if XRP follows a measured move similar to its previous price leg, it “could easily surpass $10.”
Using the Elliott Wave Theory, which states that the market trend moves in waves, he says that if XRP enters the state of “wave 3” – usually the most important in terms of price movements – the asset can exceed $ 10.
CryptoinsightUK notes that many investors are targeting the $8 mark, a price it considers reasonable based on various factors metrics.
By analyzing price movements and potential gains, the analyst suggests that the future of the altcoin looks bright, with many indicators pointing to significant growth.
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As the year 2025 rolls around, XRP’s impressive start and broader market dynamics suggest we may be approaching a significant change in the cryptocurrency landscape.
Confidence brought by political changes and market sentiment may lay the foundation for a new era of XRP growth as well crypto currency the market as a whole.
Trading at $2.42, XRP price shows a 2% increase in the last 24 hours. In terms of trading volume, CoinGecko data shows a drop of about 42%, a total of $5.6 billion.
Featured image from DALL-E, chart from TradingView.com