A new XRP price prediction has surfaced, with a crypto analyst forecasting that the popular altcoin will experience a dynamic surge to $5.85 in the new week. Based on the Elliott Wave Theory and key technical indicators, the analysis outlines how XRP could see a significant upside after breaking out a symmetrical triangle pattern. 

On January 26, Dark Defender, a prominent crypto analyst on X (formerly Twitter), forecasted an XRP price surge to a new all-time high of $5.85. The analyst shared a chart illustrating an Elliott Wave pattern consisting of five waves (1 through 5) in an upward trend

XRP To Break Out To $5.85

Typically, the Elliott Wave theory suggests a cyclical price movement, where Wave 3 is presented as the strongest wave with the most explosive price increases. On the other hand, Wave 4 is highlighted as a corrective phase, while Wave 5 represents the final leg of an uptrend. 

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Dark Defender revealed that the current XRP Elliott Wave structure was established as early as August 2023, where Wave 3 has consistently targeted the $5.85 all-time high level. This price surge would translate to an impressive 261.8% increase, marking a dynamic shift in the new week. 

Once the $5.85 target is achieved, Wave 5, which is the final wave of the Elliott wave cycle, points to a longer-term price target of $18.22. Achieving this level would signify a massive 361.8% increase, marking a historic milestone for XRP.  

In his detailed analysis, Dark Defender also pointed out a 4-hour symmetrical triangle pattern on the XRP price chart. This unique technical formation is often a precursor of a significant price movement, which, in XRP’s case, the analyst forecasts a breakout to occur within the next 16 to 20 hours following his analysis. 

The breakout from the triangle pattern is expected to align with the broader upward trend. Moreover, the green circle on the chart shows that the XRP price has retested and confirmed support after breaking past the breakeven line toward the $2.4 resistance level. This move sets the stage for the analyst’s projected rally, with a primary target of $5.85 level and a secondary goal of $4.55.

XRP Price Plummets 10% In One Day

While the broader crypto market exhibits bullish sentiments toward XRP due to its impressive performance this year, the popular altcoin is currently facing significant bearish momentum as it struggles to break through key resistance levels. 

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As of writing, CoinMarketCap’s data shows that XRP has plummeted from a previous price high above $3 to $2.8. The cryptocurrency recorded a 10.3% decline in the past 24 hours after experiencing severe bearish pressure that led to a 14% drop last week.

Despite this bearish performance, analysts remain increasingly bullish on XRP, predicting significant price rallies that would propel the altcoin to new heights. One notable forecast suggests that XRP could rally so high over time and potentially flip Bitcoin, the world’s largest cryptocurrency.

Featured image from Adobe Stock, chart from Tradingview.com

The final week of January presents an exciting opportunity for small investors to engage with emerging crypto projects, despite ongoing market volatility. Several ecosystems have announced crypto airdrops, offering participants a chance to gain exposure to novel ventures.

Here’s a curated list of the top five crypto airdrops to watch, along with key details on how to participate.

LayerEdge

LayerEdge has launched an incentivized testnet program, allowing participants to earn EDGE points by running light nodes and verifying proofs. The program, which began with Phase 1 on January 22, will conclude on January 28. Phase 2 will commence immediately afterward, marking the next stage of the project’s rollout.

Participants can earn 1 EDGE point per second of active node operation and gain additional points through daily check-ins and completing ecosystem tasks. This airdrop follows closely after the network’s incentivized testnet launch.

“The Closed Testnet is live now and will end on 28th January. This is your chance to get in early and start earning points before the next phase begins,” said a prominent crypto airdrop researcher.

LayerEdge, a Layer-2 solution, enhances Bitcoin’s ecosystem by adding programmability and scalability while maintaining its core security principles. Backed by BreakOrbit and Normie Capital, among others, the project introduces BitVM, which leverages zero-knowledge proofs (ZKPs) for trust-minimized verification and proof aggregation.

FCHAIN

FCHAIN, a Layer-1 blockchain focused on on-chain gaming and entertainment, has announced an airdrop for its RIFT token. Following a $29 million funding round led by venture capital heavyweights like Andreessen Horowitz (A16Z) and Sequoia Capital, FCHAIN aims to revolutionize gaming blockchain infrastructure.

The RIFT token distribution follows a structured allocation model:

• Community: 54.8%
• Treasury & Ecosystem Growth: 22.2%
• Liquidity: 13%
• Core Contributors: 10%

This community-focused approach encourages ecosystem development and governance. Early participants should submit applications promptly via the official website. Eligibility happens through community engagement, liquidity provision, and ecosystem contributions.

Fraction AI

Fraction AI simplifies AI agent creation, enabling users to deploy intelligent agents using natural language prompts. The platform operates on the Ethereum network’s Sepolia testnet and has secured $6 million in funding from Borderless Capital and Foresight Ventures.

The airdrop will reward participants with FRAC tokens based on their engagement metrics, such as the number of AI agents created, battles participated in, and overall platform activity. Active users can earn Fractal points and experience (XP), which influence their potential airdrop allocation.

“Fraction AI enables users to create AI agents with natural language prompts, no coding required. The platform provides tools for refining, risk management, and performance tracking to ensure success, making AI development accessible and focused on usability and quality,” an airdrop researcher noted.

Users can explore creative activities like rap battles and competitive agent interactions, making the platform a unique blend of AI innovation and community engagement.

ColorPool

ColorPool, powered by the Chromia blockchain, introduces the COLOR token through its novel ecosystem. The network combines trading, gaming, and asset management without gas fees. The project leverages Chromia’s relational blockchain technology to provide a seamless environment for dApp interactions.

Key features of the airdrop include:

• Zero Gas Fees: Transactions within the ecosystem incur no blockchain gas costs.
• Dual Rewards: Stake CHR tokens and earn COLOR for additional benefits.
• Immediate Token Liquidity: The network unlocks tokens upon distribution with no vesting periods.

“The ColorPool Airdrop, powered by Chromia, could be one of the most significant airdrops ever on the Chromia Blockchain. And it’s all set to happen this January,” wrote Chuck, a seasoned crypto investor.

The COLOR token serves as the native currency for governance decisions, seamless transactions, and active user incentives. Early participants can secure the airdrop by engaging in ecosystem activities outlined in the ‘actions’ section on the platform’s website.

zkFinance

zkFinance plans to distribute a total of 20 million ZGT tokens over 100 days, with 200,000 tokens released daily. To qualify, participants must supply or borrow a minimum of $200. The estimated airdrop distribution date is in Q1 2025.

Built on advanced zero-knowledge technology, zkFinance offers a secure, scalable platform for decentralized finance (DeFi) applications. Its airdrop incentivizes user engagement, ensuring the project’s growth and adoption.

Whether you’re interested in Bitcoin scalability, gaming infrastructure, AI innovation, or fee-free ecosystems, these crypto airdrops provide a promising start to 2025. Stay informed, participate early, and seize the opportunity to engage with these groundbreaking projects. As always, however, investors must conduct thorough research and assess the risks before diving in.

Solana (SOL) has been on a downward trend since reaching an all-time high of $295.83 on January 19. The altcoin currently trades at $226, declining 23% from its peak.

With the bears regaining market control, SOL faces increasing selling pressure and waning demand.

Solana Demand Wanes as Meme Coin Hype Dwindles

The significant surge in the demand for the Solana-based meme coin TRUMP pushed SOL to a new all-time high of $295.83 on January 19. However, following Donald Trump’s January 20 inauguration and the launch of the MELANIA meme coin, TRUMP’s trading activity faded gradually. This resulted in a dip in activity on the Solana network, which has impacted SOL’s performance.

SOL trades at $226 as of this writing, noting a 9% decline over the past 24 hours. This has pushed its price below the 20-day Exponential Moving Average (EMA), a key indicator of weakening momentum. 

The 20-day EMA measures an asset’s average price over the past 20 trading days, giving more weight to recent prices to highlight short-term trends. When an asset’s price falls below this key moving average, it signals a shift in momentum to the downside, suggesting a weakening of the uptrend amid increased selling pressure.

In addition, the setup of SOL’s Moving Average Convergence Divergence (MACD) indicator supports this bearish outlook. At press time, SOL’s MACD line (blue) is poised to break below its signal line (orange).

When an asset’s MACD is set up this way, it suggests a bearish crossover, indicating that selling momentum is building, hinting at a sustained price drop. 

SOL Price Prediction: A Dip Below $210 Is Imminent

If SOL’s selling pressure strengthens, readings from its Fibonacci Retracement tool indicate that its price could fall below $210 to trade at $202.73.

On the other hand, a surge in new demand for the altcoin will invalidate this bearish projection. In that case, Solana’s price could attempt to reclaim its all-time high.