- Binance buying pressure boosts XRP, targeting $2.44 for trend confirmation.
- Ascending triangle breakout hints at XRP reaching $3.7–$4.2 in bullish move.
- XRP’s long-term target lies between $8–$13, with potential for higher gains.
XRP has been displaying strong bullish momentum in recent weeks, particularly with activity observed in Binance’s spot and perpetual markets. As highlighted by analyst Dom, Binance’s involvement has played a crucial role in pushing XRP’s local highs.
With 90% of the market activity coming from buying pressure, the likelihood of continued upward movement appears strong. However, key levels remain to be tested, particularly the $2.44 mark, which will serve as a critical point for determining whether the bullish trend will persist.
$XRP orderflow update
— Dom (@traderview2) January 3, 2025
Binance spot market and perp market has stepped in here, pushing the local high 👀
90% of the time Binance markets are buying, we are going higher
Seeing more unison of the markets here, the key is to continue this market buying over the -$2.44 level https://t.co/3lhIeSPwH7 pic.twitter.com/iNBI40Bbmt
Ascending Triangle Breakout: A Key Bullish Signal
XRP’s chart currently shows a clear ascending triangle pattern, which is a classic indicator of potential price breakout. If XRP manages to break above the upper trendline, the first target zone would be between $3.7 and $4.2.
According to analyst EGRAG CRYPTO, the chart points toward the formation of a bullish pennant, signaling that further upside is possible. Historically, XRP tends to overshoot its measured moves by 10-15%, which could push the price even higher, making this an attractive setup for traders looking for significant returns.
#XRP Unicorn 🦄 Chart ($8-$13) – The simplest yet most unique chart you'll see!
— EGRAG CRYPTO (@egragcrypto) January 3, 2025
Here's the breakdown:
1️⃣ Ascending Triangle Breakout :
🔹Breaking the ascending triangle to the upside will be the first sign that the #BullishPennant is in motion.
🔹Target to the upside:… pic.twitter.com/8vzuCQQnzg
Statistical Probabilities: Bullish Bias in Play
While the breakout could go in either direction, the statistical odds favor an upward move. Analyst predictions suggest that there is a 60-70% chance of an upward breakout, compared to a 30-40% likelihood of a downward move. These odds reinforce the positive outlook for XRP, with strong buying pressure and the ascending triangle pattern supporting the possibility of a bullish breakout.
Target Range and Long-Term Outlook: $8-$13
Should XRP break above the $3.7–$4.2 range, the next critical target zone to watch will be between $8 and $13. This level is where many traders may look to take profits strategically, especially if the bullish pennant plays out as expected.
Additionally, analysts suggest using a dollar-cost averaging strategy to mitigate risk, as market volatility remains a concern. Ultimately, the long-term target for XRP is $13, with some potential for it to reach as high as $14–$15.
Key Levels and Indicators to Watch
As of press time, XRP is trading at $2.42, with support levels identified at $2.00 and $1.50, both of which are seen as significant psychological and historical support zones. Resistance levels to watch include $2.50 and $3.00, with the latter being a key psychological resistance point.
On the technical front, the Relative Strength Index (RSI) is at 59.95, suggesting a neutral momentum with a slight bullish bias. The MACD indicator is showing positive divergence, which further strengthens the case for continued upward movement.