XRP (XRP) price registered a bullish break of structure on the daily chart on Jan. 11 after the altcoin reached a high of $2.60. Since then, the price has dipped as low as $2.33 on Jan. 13 but swiftly recovered a position above $2.45 within the trading day.
XRP is currently the third largest cryptocurrency asset, including stablecoins, with a market cap of $141 billion.
XRP/BTC eyes bullish close above 4-year-old resistance
While XRP lagged Bitcoin in the 2021 bull cycle, the altcoin has established a stronghold in 2024/2025. With a weekly close above $2.50 last week, XRP/BTC witnessed its highest weekly close candle since October 2022, as illustrated in the chart.
Likewise, a continued outperformance from XRP against BTC will potentially flip a 4-year weekly resistance level established in May 2021. Over the past few years, the resistance has been tested three times, with the recent trigger coming in November 2024.
Overall, XRP’s price action against BTC implied that the market is widely paying attention to the altcoin as it moves toward its all-time high (ATH) of $3.40 in 2018.
With regard to a new ATH, CRYPTOWZRD, a crypto trader, said,
“XRP has flipped previous resistance to support, it is now ready to rally to $4.00 and then $8.00 in the higher time frame.”
The trader explained his prediction thesis with the help of a market fractal on the altcoin’s weekly chart, which is currently playing out according to XRP’s bullish leg from 2017.
Similarly, Titan of Crypto, a technical analyst and crypto investor, set a similar target price for the altcoin at $4.32. The analyst highlighted that XRP’s daily price action recently invalidated a death cross with a golden cross, further strengthening XRP’s bullish argument.
Related: XRP, HBAR, BGB and XMR flash bullish signs as Bitcoin searches for direction
XRP undergoes bullish breakout from pennant
On Jan. 11, XRP breached its immediate resistance at $2.50 and consequently witnessed a bullish breakout from its triangle/pennant pattern. The pennant, which took shape over 42 days or seven weeks, has a technical breakout target of $3.50, which is 50% from $2.35, or the point of pattern break.
However, the altcoin must close a daily candle above key resistance between $2.60 and $2.48 and flip the above range into support. The relative strength index (RSI) currently consolidates above 50, implying that bullish pressure continues to build for the altcoin on the long-term chart.
A daily close above $2.60 would allow XRP to move swiftly above $2.72 and $2.90 due to the sell-side liquidity present just above these levels.
Related: XRP price preps for ‘powerful move’ above $2.90 as sentiment metrics signal optimism
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Source: XRP rally to $4 possible after XRP/BTC pair clears 30-day resistance level
