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14 January, 2025

XRP Price Surge: Outpacing Bitcoin and Ethereum

14 January, 2025

Despite the pressure on Bitcoin, XRP has initiated a significant upward trend, breaking above the $2.450 mark. This positive momentum suggests a potential breakout beyond the $2.550 resistance level. The cryptocurrency experienced a remarkable 4% surge, decisively clearing the $2.450 support and trading comfortably above $2.4650, surpassing the 100-hourly Simple Moving Average. Technical analysis reveals a decisive break above a key bearish trend line positioned at $2.50 on the hourly XRP/USD chart (data from Kraken). Sustained trading above the $2.420 support level could propel XRP to further gains.

XRP Price Projections: Aiming Higher

XRP’s recent ascent has seen the price comfortably breach the $2.40 and $2.42 resistance levels. This impressive performance surpasses both Bitcoin and Ethereum. The price has further escalated, moving beyond $2.45 and $2.480. Notably, the price has climbed above the 50% Fibonacci retracement level of the recent downward swing (from $2.597 high to $2.332 low). The upward trajectory continues, with potential resistance anticipated near $2.550 or the 76.4% Fibonacci retracement level. Key resistance levels lie at $2.60, $2.620, and a decisive break above $2.620 could trigger a surge toward $2.650, potentially extending to $2.720 or even $2.7350 in the short term. The next significant hurdle for XRP bulls sits at $2.80.

Potential Downside Correction

Failure to break through the $2.60 resistance zone could initiate a price correction. Initial support is positioned near $2.480, with stronger support at $2.420. A break below $2.420 might lead to a decline towards $2.350, and further down to $2.320.

Technical Indicators

Hourly MACD: Showing signs of slowing momentum within the bullish zone.
Hourly RSI: Currently trading above the 50 level, indicating bullish sentiment.

Key Support and Resistance Levels

Support: $2.480, $2.420
Resistance: $2.550, $2.600