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XRP Price Prediction for January 31: Can Bulls Push It Higher?

Munene Timothy by Munene Timothy
January 31, 2025
in Binance Feed, Market
Reading Time: 4 mins read
XRP Price Prediction for January 31 Can Bulls Push It Higher
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  • XRP trades at $3.09, down 0.68%, with key support at $3.04 and resistance at $3.47. A breakout could push the price toward $3.60-$4.00.
  • Analyst Javon Marks sees XRP mirroring 2017’s breakout, projecting $22-$24 targets, with extreme upside reaching $80-$99.
  • Grayscale filed to convert its XRP Trust into a spot ETF, joining other firms, while SEC’s regulatory stance remains uncertain.

At press time on January 31, XRP was trading at $3.09, a 0.68% dip in 24 hours and a 3.49% drop over the past week. Despite this short term dip, XRP remains up by 45.09% over the past month. XRP market cap is at $178.33 billion, down by 0.59%.

Technical Indicators Show Mixed Signals

XRP’s price action on January 31 indicated notable levels. XRP reached a high of $3.13 and a low of $3.07. XRP opened at $3.12 and closed at $3.07. Trading volume is at 45.44 million XRP, indicating moderate liquidity.

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Source: TradingView

The upper Bollinger Band at $3.47 is XRP’s upper resistance, while the middle band at $3.04 is the dynamic support. The lower band at $2.60 marks the crucial downside level. XRP trades slightly above its 20 SMA at $3.0401, suggesting that maintaining this level could support further upside. However, a break below this level may push prices toward $2.60.

The Stochastic RSI is at 11.70 and 10.31, both in the oversold region. This indicates that the price could soon reverse upward if buying pressure increases. A move above 20 on the Stochastic RSI would strengthen bullish momentum, while remaining below could lead to further downside.

Bullish and Bearish Scenarios

The price patterns form higher highs and higher lows, suggesting a potential bullish continuation. If XRP retests and breaks the $3.47 resistance, it may push toward $3.60 or higher. A breakout above this level could lead to $4.

On the downside, failing to hold above $3.04 could lead to a drop toward $2.60. Increased selling pressure could extend losses to $2.50. Monitoring volume and Stochastic RSI movements is essential for confirmation of the next price direction.

Analyst Long term Prediction

According to Javon Marks, XRP recently broke out of a pattern similar to its 2017 formation but on a larger scale. The 2017 breakout saw XRP surge from $0.0069 to $3.87, an increase of approximately 56,000%. Marks noted that XRP has now reached its first breakout target, with the next potential target set at $99.

In simple form, $XRP broke out of a pattern that highly resembles the 2017 pattern, but in a much larger form, more than DOUBLE the size!

The 2017 breakout resulted in two targets met.

Prices of XRP has just met its first target and the next is at $99, over 2,900% away… https://t.co/liX2YgxqAm pic.twitter.com/CgQDHBLl4y

— JAVON⚡️MARKS (@JavonTM1) January 31, 2025

XRP’s price history shows long consolidation phases followed by explosive movements. If a similar rally occurs, projections indicate targets between $22 and $24, with a larger upside scenario reaching $80 to $99. 

SEC Meeting and XRP ETF

Regulatory uncertainties continue to impact market sentiment. On January 30, the SEC held a closed meeting but remained silent on its appeal in the Ripple case. Speculation increased regarding a potential withdrawal after President Trump appointed Mark Uyeda as acting SEC Chair. 

A withdrawal could support XRP’s price, while an ongoing legal battle may weigh on momentum. Additionally, Grayscale filed to convert its XRP Trust into a spot ETF on January 30. The filing, made with the NYSE, shows increasing expectations of regulatory approval. 

Update: @NYSE & @Grayscale have filed to convert Grayscale's XRP trust into an ETF. The trust currently has ~$16 mln in assets. pic.twitter.com/QAufZoKDkA

— James Seyffart (@JSeyff) January 30, 2025

Bloomberg Intelligence ETF analyst James Seyffart noted that the trust holds approximately $16 million in assets. Grayscale joined other firms, including Bitwise, Canary Funds, WisdomTree, and 21Shares, in seeking approval for an XRP spot ETF.

Tags: Price AnalysisRipple (XRP) News

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