Why is the Ripple (XRP) Price Up Today?
2025-01-02
Category: None

TL;DR
Back to the Green Track
Ripple’s XRP performed quite shaky between Christmas and New Year’s Eve, with its price briefly plunging below $2. However, the bulls stepped in on the first two days of 2025, pushing the valuation to as high as $2.42. Currently, XRP is worth around $2.37 (per CoinGecko’s data), representing a 12% increase on a 24-hour scale.
One factor potentially contributing to the solid resurgence is the overall revival of the cryptocurrency market. Bitcoin (BTC) surpassed $95,000, Ethereum (ETH) crossed $3,400, while Solana (SOL) charted a 9% daily pump to reach $206.
Other leading digital assets well in the green today (January 2) include Dogecoin (DOGE), Cardano (ADA), Stellar (XLM), and many more. Meanwhile, the total market capitalization of the crypto sector jumped above $3.5 trillion again.
Another factor could be the rise of some essential XRP-related metrics. Data shows that the payment volume from one account to another and the number of executed transactions jumped to multi-week highs on January 1.
Such resurgences typically suggest heightened interest or activity in the XRP ecosystem. Positive trends in those indicators might reflect bullish sentiment, attracting more buyers and possibly triggering upward pressure on the valuation.Recent XRP Predictions
While the price of XRP has skyrocketed by triple digits in the past year, numerous analysts believe the rally is far from over. X user Captain Faibik recently claimed that the asset “looks promising” for another 50% jump, setting $3.66 as the next target.
Earlier this week, JAVON MARKS and Ali Martinez also chipped in. The formerthinksXRP’s price condition as of late resembles the one observed in 2017 (shortly before the bull run that took it to a new all-time high).
“Prices right now may only be getting ready to come out of an ‘Intermission Phase’ before yet another ‘groundbreaking’ bullish rally! It may be time to strap in,” the X user assumed.
For their part, Martinez envisioned a “big movement” based on the squeezing Bollinger Bands. The technical indicator, developed by John Bollinger in the early 1980s, helps traders detect when an asset may be overbought or oversold and spot possible price breakouts or trend reversals.
Tightening the bands means XRP has experienced relatively low volatility for a prolonged time, which could be a precursor of a huge rally or an intense pullback.