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The price of XRP is currently forming a promising technical configuration, supported by a significant increase in open interest and robust technical indicators. Analysts are forecasting an ambitious target of $15 as the crypto market shows signs of growing strength.
The crypto XRP ready for a spectacular leap
The XRP shows remarkable performance at the beginning of 2025, with an appreciation of 15% over the last seven days, reaching $2.44 on January 6. This progression is in continuity with the December rally that had pushed the asset toward $3.
Open interest for XRP surged by 45% in the last 24 hours, rising from $2.6 to $3.7 billion, signaling a significant accumulation of positions by institutional investors. Historically, such increases have preceded major rallies, as seen in July 2023, where a similar rise in open interest catalyzed a 107% price increase.
This dynamic occurs within a context of growing adoption, notably illustrated by recent developments in the Japan, where the banking sector is actively exploring the integration of Ripple technology. The prospect of a Trump administration favorable to cryptos also reinforces the positive sentiment among investors.
The sustained increase in trading volumes and the multiplication of strategic partnerships create an environment particularly conducive to a significant appreciation of XRP.
A bullish technical signal suggests a potential of 520%
The technical analysis of the XRP/USD daily chart reveals the formation of a classic bullish trend, a setup targeting $15, representing a potential increase of 520% from current levels. The simple moving average at 50 days provides strong support at $2.10, while the relative strength index remains above the 50 level.
A daily close above $2.41 would confirm the breakout of the current price structure and pave the way towards the $15 target. This technical projection aligns with the forecasts of major industry analysts, particularly Egrag Crypto, who, using Elliott wave theory combined with Fibonacci levels, anticipates reaching $15 by May 5, 2025.
The growing institutional adoption of XRP, particularly in the Asian banking sector, reinforces the credibility of these bullish projections. With a market capitalization that could increase by several tens of billions of dollars, XRP appears well-positioned for a new phase of expansion.
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Passionné par le Bitcoin, j’aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l’outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
