Expert identities XRP key levels to watch as ‘bullish breakout is confirmed’

By Finbold | Created at 2025-01-12 12:06:16 | Updated at 2025-01-12 14:53:22 2 hours ago

A cryptocurrency trading expert has pointed out that an XRP price breakout is already confirmed following the short-term bullish momentum, and investors should anticipate further surges.

According to Alan Santana, XRP is showing potential for a higher shift, having broken above a descending trendline after weeks of consolidation following its December 2024 peak, as indicated in his TradingView post on January 12.

Santana’s outlook noted that after a sharp bullish rally late last year, inspired by post-election optimism, XRP entered a retracement phase that evolved into a consolidation pattern. This pattern, often considered a 50/50 scenario where price action can break up or down, has now decisively favored the bulls.

He added that broader market conditions in 2025, particularly in this post-Bitcoin-halving year, have created an overwhelmingly bullish environment for cryptocurrencies, tipping the odds in favor of upward momentum.

XRP price levels to watch

The expert noted that the short-term bullish momentum is a critical development, as it confirms bullish dominance and sets XRP on course to retest significant price levels.

The first target for XRP is $2.70, a retest of its last major high. Should the bullish momentum persist, Santana anticipates that $2.90 could also come into play. Ultimately, this target may push the asset to the coveted $3 mark.

“The break of the pattern upper resistance indicates an advance to the last high, that is a minimum of $2.7. This can go higher and $2.9 be challenged. <…> A bullish breakout is now confirmed,” the expert stated.

On the other hand, for the possibility of new all-time highs, an analysis by Cryptoinsightuk in an X post on January 12 highlighted $2.61 as the critical price to watch.

If XRP closes above this level, its upward trajectory could solidify. Such a close would signal sustained bullish sentiment and strengthen the case for further gains in the coming weeks.

At the same time, as reported by Finbold, another pseudonymous analyst, The Great Mattsby, projected that XRP was ‘just days away’ from another record-high breakout. This projection is based on XRP’s short-term technical strength.

Indeed, this bullish outlook is backed by token whales accumulating XRP, a significant development for the Ripple-affiliated asset.

XRP also faces several bullish fundamentals that are likely to spur price growth. For instance, the community is anticipating the conclusion of the long-standing legal tussle between Ripple and the Securities and Exchange Commission (SEC). This expectation has heightened due to President-elect Donald Trump’s nomination of crypto-friendly Paul Atkins to replace outgoing SEC Chair Gary Gensler.

Additionally, there is a growing expectation that the new SEC administration will likely consider approving a spot XRP exchange-traded fund (ETF). In this line, Nate Geraci, an ETF analyst, has projected that the product will likely be approved this year.

This optimism follows Ripple President Monica Long’s statement that XRP could be next in line for a spot ETF approval amid pending applications from firms like WisdomTree, Bitwise, Canary Capital, and 21Shares.

XRP price analysis

By press time, XRP was trading at $2.48, having gained over 4% in the last 24 hours, while on the weekly chart, the asset has risen nearly 6%. These short-term gains are noteworthy, as they emerged during a bearish sentiment in the general market.

XRP is maintaining a strong position above its 50-day simple moving average (SMA) price of $2.15 and its 200-day SMA of $0.97, signaling a robust uptrend.

For XRP to sustain its current momentum, investors need to monitor how the asset interacts with the $2.50 level. Sustained gains above this mark could signal a continued uptrend, while failure to hold above it might suggest a reversal.

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