XRP: Is the $3.00 Breakout the Start of a New Rally!?
2025-01-16
Category: None

XRP Token ( BINANCE:XRPUSDT ) , backed by  Ripple , a pioneer in international financial transfers, this token has once again captured the market's attention.  Is this growth sustainable or just a temporary surge?  

Let's take a closer look.

 Fundamental Analysis :

 1- Legal Advancements(Recent Court Victories) :  Ripple has achieved successes in its legal battles against the U.S. Securities and Exchange Commission (SEC), reducing legal uncertainties surrounding XRP and boosting investor confidence. 

 2- Strategic Partnerships(Collaborations with Major Financial Institutions) :  Ripple has initiated partnerships with banks and financial institutions worldwide, especially in Europe and Asia, aiding in the broader adoption of XRP. 

 3- Increased Utility(Speed and Efficiency in Transactions) :  Given its high speed and low transaction fees, XRP is being considered a suitable option for international transfers. 

 4- Institutional Investment(Approval of Exchange-Traded Funds (ETFs)) :  The approval of ETFs related to XRP could lead to increased demand and, consequently, a rise in its price. 

 5- Leadership Changes(Changes in SEC Leadership) :  With Gary Gensler stepping down as SEC Chair and the potential appointment of more crypto-friendly leaders, regulatory pressures on XRP are expected to decrease, potentially aiding its growth. 
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Now, let's take a look at the  Technical Analysis of XRP .

 XRP  is trying to break the  Resistance zone($2.92-$2.68) . However, the  $3.00 Resistance level(Round Number)  is preventing XRP from continuing to rise.

Of course, with the  large volume of the candle breaking the Resistance zone , we can hope for an  increase in XRP .

Regarding  Classic technical analysis , the  Rising Wedge Pattern has failed  and will act as a  continuation Pattern when a reversal pattern fails. ==>> Educational Tip 

According to the theory of  Elliot waves , it seems that  XRP  has succeeded in completing the  main wave 3  and we should wait for the  main wave 4 . It looks like the  main wave 4  can end around  $2.85  or  $2.74  ( near the upper line of the failed wedge pattern ).

Looking at the chart of  XRPBTC ( BINANCE:XRPBTC ) in the  weekly time frame , we can see that it seems that  XRPBTC  has succeeded in  breaking the Resistance lines  and is currently trying to break the  Resistance zone , and  if this zone breaks , we can see a further increase in XRP compared to Bitcoin(if the  crypto market is bullish ) and vice versa if the  crypto market is bearish , we can hope that XRP will experience a smaller decline than Bitcoin.

Based on the explanation above, I expect  XRP  to rise to at least a  Potential Reversal Zone(PRZ)   after the pullback is completed .

 Note: If XRP returns below the Resistance zone($2.92-$2.68) again, we can expect a further decline of XRP. 

XRP Analyze (XRPUSDT), 4-hour time frame⏰.

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