XRP Price Analysis: Flag Breakout and Fibonacci Levels Target at $3.82 | Coinspeaker
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XRP Price Analysis: Flag Breakout and Fibonacci Levels Target at $3.82

Leader of the crypto pack, XRP, aims for an extended bull run in 2025. With a flag breakout rally, will XRP price hit a new all-time high?

Vishal Dixit By Vishal Dixit Julia Sakovich Edited by Julia Sakovich Updated 3 mins read
XRP Price Analysis: Flag Breakout and Fibonacci Levels Target at $3.82
Photo: Depositphotos

Key Notes

  • XRP holds stronger ground at $2.47 despite a broader crypto market correction and rising liquidations.
  • A bullish breakout on Saturday sets Fibonacci-based price targets at $3.42 and $3.82.
  • Peter Brandt's analysis highlights a triangle breakout, with the current pullback acting as a retest for continuation.

Despite the massive correction in the crypto market, as Bitcoin BTC $96 552 24h volatility: 0.7% Market cap: $1.91 T Vol. 24h: $27.48 B has dropped to the $93,500 level and liquidations have risen to nearly $300 million, XRP XRP $2.42 24h volatility: 1.1% Market cap: $140.06 B Vol. 24h: $4.48 B maintains a stronger position.

XRP Price Triggers Buy Signal

Despite the 1.13% intraday drop followed by the 2.81% drop on Sunday, XRP trades at $2.47. This comes as a retest of the broken resistance trendline in the daily chart.

Based on the broader picture, the resistance trendline was part of a bullish pattern. This pattern is generally considered a trend continuation pattern with substantial price targets.

BITSTAMP:XRPUSD Chart Image by vd9137

Hence, the ongoing retest comes as a lucrative buying opportunity for price action traders.

Supporting the bullish trend, the RSI line is sustaining above the halfway level, indicating a positive trend. Furthermore, the crucial exponential moving average lines maintain a positive alignment, adding strength to the bullish outlook.

XRP Price Targets $3.82

Using the trend-based Fibonacci level, the retest fluctuates near the 23.60% level, close to the $2.50 psychological mark. The bullish breakout occurred on Saturday with a bullish engulfing candle of nearly 10%.

Hence, the breakout rally is expected to gain momentum after the retest phase.

The XRP price targets, based on the Fibonacci levels, are $3.42 and $3.82 in the short term. However, XRP price must surpass the $3.42 psychological mark, which acts as a crucial resistance, to sustain its bullish trend.

On the flip side, the crucial support remains the 50 EMA line at $2.10 and the $2.00 psychological mark.

Veteran Chart Master Backs XRP Rally

In a recent X post, Peter Brandt, a veteran technical analyst, highlights a positive signal for XRP. The price chart reveals a bullish breakout of a triangle pattern and XRP crossing the $2.50 psychological mark.

The current pullback, acting as a retest, could showcase a bullish continuation. Meanwhile, the ATR and ADX levels in Peter Brandt’s chart are diverging. The ATR, standing at 0.177, indicates low but slightly rising volatility.

However, the ADX, which has dropped to 15.48, suggests a weakening trend.  While the recovering ADR points to a boost in bullish sentiment, the declining ADX highlights a loss of momentum.

Gary Gensler’s Exit to Fuel Bullish Chances

On the fundamental side, the shift in the chairmanship of the US SEC is likely to boost bullish sentiments for XRP. With Donald Trump swearing in on January 19, Gary Gensler is expected to resign in seven days.

This will act as a positive catalyst, increasing speculative trading of XRP and the broader crypto market in the coming days.

XRP is well-positioned for a bullish continuation, with strong technical indicators and promising fundamentals aligning for potential growth. The retest phase and positive momentum, supported by Peter Brandt’s analysis, set the stage for a rally toward $3.42 and beyond.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Cryptocurrency News, News, XRP News
Vishal Dixit
Author Vishal Dixit

Vishal, a Bachelor of Science graduate, began his journey in the crypto space during the 2021 bull run and has since navigated the subsequent market winter. With a strong technical background, he is dedicated to delivering insightful articles rich in technical details, empowering readers to make well-informed decisions.

Vishal Dixit on X