- Summary:
- XRP price has multiple shifts in its fundamentals in January, and the coin stays on course to hit $.4.580 as per a bullish pennant pattern
XRP price extended its gains on Thursday, gaining 3% to trade at $2.39 at the time of writing. The coin’s resilience above the $2 mark has paid off, and it has broken out decisively from a bullish pennant pattern discussed here earlier. That move raises the prospect of rising to a new record high price of $4.580.
The upside view of XRP price is also supported by a spike in the asset’s traded volume in the last 24 hours. According to data aggregation site, CoinMarketCap, the coin’s traded volume spiked by 146% in that time frame, despite a price uptrend. That signals a strong investor confidence in the asset, which affirms a likely continuation of the upside.
A key factor that could define XRP price trajectory in 2025 is a decision by the Securities and Exchange Commission (SEC) regarding XRP Spot ETF applications. A total of four ETF applications were filed in the last quarter by Bitwise, 21 Shares, Canary Capital and Wisdom Tree in the last quarter of 2025.
The SEC has until June 2025 to make a decision on the applications which is significantly far, but an approval could inject significant upside momentum into XRP price. In the intervening period, XRP price will be influenced by developments around the SEC’s Programmatic Sales appeal against XRP issuer, Ripple Labs.
January 15 is the deadline for the SEC to make its opening brief on the appeal. That will be followed by the departure of SEC commissioner Jaime Lizarraga two days later. Finally, SEC Chairman Gary Gensler will exit the office via resignation on January 20. These events could trigger good tidings for XRP price in the coming months and in the long-term.
XRP Price Prediction
Pivot: XRP price pivots at $2.35 and the upside will prevail if the price action stays above that level. Conversely, breaking below that mark will shift the momentum to the downside.
Resistance: With the buyers in control, immediate resistance for XRP will be at $2.42. However, a stronger momentum could breach that barrier and test $2.50.
Support: Primary support at $2.28. The upside narrative will be invalid if the price breaks below that level. That could establish the second support at $2.21.
