Market
Crypto Analyst Predicts XRP Price Will Rally 50,000% To $250, Here’s When
Crypto analyst Chad Steingraber has made an ultra-bullish price prediction for the XRP price, stating that the crypto token’s price could rise to three figures. The analyst also outlined when this price target will be attained.
XRP Will Hit $250 In This Market Cycle
Steingraber mentioned in an X (formerly Twitter) post that XRP will reach $250 by 2025, which he believes will represent the market top for the crypto token in this bull run. He made this prediction while stating that Bitcoin and Ethereum will hit $250,000 and $25,000 in 2025, which will also be their market top.
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Steingraber has previously provided several reasons why he is so bullish on XRP and believes the crypto token could attain such heights. He once alluded to a potential XRP ETF as one factor that could trigger significant price surges for XRP. He explained that an XRP ETF would give the crypto token an added utility as fund issuers for the XRP ETFs will direct their assets into an institutional liquidity hub.
He believes an XRP ETF will drive more demand for the crypto token, ultimately driving up its price when a supply shock occurs. Steingraber also believes that the Securities and Exchange Commission’s (SEC) lawsuit against Ripple is one of the factors suppressing XRP’s price up until now.
He had earlier claimed that XRP’s price wasn’t going up because new money wasn’t flowing into its ecosystem and affirmed that the crypto token would likely see an influx of new money once the SEC’s case against Ripple is over. Steingraber isn’t the only one who believes that XRP’s price could skyrocket and climb to three figures once the lawsuit ends.
Crypto analyst JackTheRippler also predicted that XRP would rise above $100 once the case ends. The analyst even gave a more bullish prediction than Steingraber’s, stating that XRP hitting $10,000 was achievable after the lawsuit. Crypto analyst CryptoBull also predicted that XRP could reach three figures, rallying 28,900% to $154.
XRP Price To $7.5 In The Meantime
Crypto analyst Egrag Crypto has suggested that XRP rising to $7.5 is the price target to watch before the crypto token reaches the heights analysts like Steingraber predict. In an X post, he stated that “$7.5 is target number 1.” Egrag went on to outline how this move to $7.5 will likely take place.
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He stated he is highly convinced that XRP will break the white triangle (on the chart he shared) and hit the measured move at $1.5. From there, he expects XRP to make its move to $7.5. However, he warned that the Fib 1.618 zone where $7.5 is situated is “critical” and that a lot of profit-taking will happen there, suggesting that XRP could significantly decline once it reaches such heights.
Egrag added that the next targets for XRP will be “mid-double digits near Fib 2.414 & 2.618” if XRP archives a weekly close above Fib 1.618.
Featured image created with Dall.E, chart from Tradingview.com
Market
Bitcoin Price Approaches $100K: The Countdown Is On
Bitcoin price is rising steadily above the $95,000 zone. BTC is showing positive signs and might soon hit the $100,000 milestone level.
- Bitcoin started a fresh increase above the $95,000 zone.
- The price is trading above $95,000 and the 100 hourly Simple moving average.
- There is a key bullish trend line forming with support at $95,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could continue to rise if it clears the $100,000 resistance zone.
Bitcoin Price Sets Another ATH
Bitcoin price remained supported above the $92,000 level. BTC formed a base and started a fresh increase above the $95,000 level. It cleared the $96,500 level and traded to a new high at $98,999 before there was a pullback.
There was a move below the $98,000 level. However, the price remained stable above the 23.6% Fib retracement level of the upward move from the $91,500 swing low to the $98,990 high. There is also a key bullish trend line forming with support at $95,200 on the hourly chart of the BTC/USD pair.
The trend line is close to the 50% Fib retracement level of the upward move from the $91,500 swing low to the $98,990 high. Bitcoin price is now trading above $96,000 and the 100 hourly Simple moving average.
On the upside, the price could face resistance near the $98,880 level. The first key resistance is near the $99,000 level. A clear move above the $99,000 resistance might send the price higher. The next key resistance could be $100,000.
A close above the $100,000 resistance might initiate more gains. In the stated case, the price could rise and test the $102,000 resistance level. Any more gains might send the price toward the $104,500 resistance level.
Downside Correction In BTC?
If Bitcoin fails to rise above the $100,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $98,000 level.
The first major support is near the $96,800 level. The next support is now near the $95,500 zone and the trend line. Any more losses might send the price toward the $92,000 support in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $96,800, followed by $95,500.
Major Resistance Levels – $99,000, and $100,000.
Market
This Is Why XRP Price Rallied By 25% and Could Soon Hit $2
Ripple’s (XRP) price rallied by 25% in the last 24 hours following Gary Gensler’s announcement that he would resign as the US Securities and Exchange Commission (SEC) chair on January 20, 2025.
This development comes as a relief to the popular “XRP Army,” which has had to deal with suppressed price action due to the Gensler-led SEC’s nonstop petitions against Ripple. But that is not all that happened.
Ripple Bears Face Notable Liquidation Following Gensler’s Notification
Gensler’s announcement appears to be a positive development for the broader crypto market. But XRP holders seemed to benefit the most. This was particularly significant given the unresolved Ripple-SEC legal issues that have persisted throughout the SEC Chair’s tenure.
As a result, it came as no surprise that XRP price rallied and outpaced those of any other cryptocurrency in the top 10. Furthermore, the development triggered liquidations totaling $26.11 million over the last 24 hours.
Liquidation occurs when a trader fails to meet the margin requirements for a leveraged position. This forces the exchange to sell off their assets to prevent further losses. In XRP’s case, the liquidation primarily resulted in a short squeeze.
A short squeeze happens when a large number of short positions (traders betting on price declines) are forced to close, driving the price higher as they rush back to buy back the asset.
At press time, XRP trades at $1.40 and currently has a market cap of $80.64 billion. With Gensler almost gone, crypto lawyer John Deaton noted that XRP price gains could be higher, and the market cap could climb to $100 billion.
“XRP soon will achieve a $100B market cap. Times are changing,” Deaton wrote on X.
Meanwhile, CryptoQuant data shows that the total number of XRP sent into exchange has significantly decreased. Typically, high values indicate increased selling pressure in the spot market. This is because it suggests that more assets are being offloaded, potentially driving prices lower.
However, since it is low, XRP holders are refraining from selling. If this remains the case, the token’s value could rise higher than $1.40.
XRP Price Prediction: $2 Coming?
According to the 4-hour chart, XRP has been trading within a range of $1.04 to $1.17 since November 18. This sideways movement has resulted in the formation of a bull flag — a bullish chart pattern that signals potential upward momentum.
The bull flag begins with a sharp price surge, forming the flagpole, driven by significant buying pressure that outpaces sellers. This is followed by a consolidation phase, where the price retraces slightly and moves within parallel trendlines, creating the flag structure.
Yesterday, XRP broke out of this pattern, signaling that bulls have seized control of the market. If this momentum persists, XRP’s price could surpass $1.50, potentially approaching the $2 threshold.
However, this bullish scenario hinges on market behavior. If holders decide to secure profits, selling pressure could push XRP’s price below $1, erasing recent gains.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Dogecoin (DOGE) Shows Renewed Energy: Rally Incoming?
Dogecoin is consolidating gains above the $0.380 resistance against the US Dollar. DOGE is holding gains and eyeing more upsides above $0.400.
- DOGE price started a fresh increase above the $0.3750 resistance level.
- The price is trading above the $0.3800 level and the 100-hourly simple moving average.
- There was a break above a short-term contracting triangle with resistance at $0.390 on the hourly chart of the DOGE/USD pair (data source from Kraken).
- The price could continue to rally if it clears the $0.400 and $0.4080 resistance levels.
Dogecoin Price Eyes More Upsides
Dogecoin price remained supported above the $0.350 level and recently started a fresh increase like Bitcoin and Ethereum. DOGE was able to clear the $0.3650 and $0.3750 resistance levels.
The price climbed above the 50% Fib retracement level of the downward move from the $0.4208 swing high to the $0.3652 low. Besides, there was a break above a short-term contracting triangle with resistance at $0.390 on the hourly chart of the DOGE/USD pair.
Dogecoin price is now trading above the $0.3750 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.3950 level or the 61.8% Fib retracement level of the downward move from the $0.4208 swing high to the $0.3652 low.
The first major resistance for the bulls could be near the $0.400 level. The next major resistance is near the $0.4080 level. A close above the $0.4080 resistance might send the price toward the $0.4200 resistance. Any more gains might send the price toward the $0.4500 level. The next major stop for the bulls might be $0.500.
Are Dips Supported In DOGE?
If DOGE’s price fails to climb above the $0.400 level, it could start a downside correction. Initial support on the downside is near the $0.3850 level. The next major support is near the $0.3750 level.
The main support sits at $0.3550. If there is a downside break below the $0.3550 support, the price could decline further. In the stated case, the price might decline toward the $0.3200 level or even $0.300 in the near term.
Technical Indicators
Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.
Major Support Levels – $0.3850 and $0.3750.
Major Resistance Levels – $0.4000 and $0.4200.
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