Crypto Price Analysis January-17: ETH, XRP, ADA, BNB, and SOL
2025-01-17
Category: None

This week, we examine Ethereum, Ripple, Cardano, Binance Coin, and Solana in greater detail.Ethereum (ETH)
While altcoins such as XRP, SOL, and BNB have made new records since November 2024, Ethereum continues to struggle with a modest 3% price increase this week. Buyers managed to defend the support at $3,300 but were unable to push ETH much higher.
The underwhelming performance of ETH in this cycle is raising many questions from the market as to why its price action is lagging so much compared to other major altcoins. Even Bitcoin outperformed Ethereum in the past few years.
Looking ahead, optimism around Ethereum could return if its price manages to break above $4,000, which is a key resistance. The ETH all-time high is found at $4,868, and bulls will have to move the price above that if they want excitement to return to this cryptocurrency.Ripple (XRP)
XRP made history this week by matching its 2017 ATH of $3.4. This pushed the price to close the week with a mind-blowing 41% rally.
Buyers are clearly in full control of the price action, and the next major target on the chart is found at $3.6. If they manage to keep XRP above $3.3, then the asset will enter price discovery.
Looking ahead, XRP just entered a very exclusive club of altcoins that reached its previous record price in this cycle, joining BNB and SOL, which made a new record in late 2024. While sellers could return at this historic price, it is too early to tell if the rally is just beginning or may take a pause here.Cardano (ADA)
ADA had an excellent week after its price increased by over 15%. This comes after buyers defended the price well at the $0.9 key support. However, to maintain the current momentum, the asset will have to break the resistance at $1.3.
Considering that major altcoins in the top 10 are turning bullish, Cardano has a good chance to follow and rally much higher as soon as it breaks the key resistance. The momentum favors bulls right now, but the buy volume needs to increase since it has been flat in the past few weeks.
Looking ahead, Cardano has a good chance to escape its current consolidation range between $0.90 and $1.3. As soon as the price leaves this area, the bullish momentum can intensify again.Binance Coin (BNB)
Buyers successfully defended the support at $691, which allowed BNB to close the week in the green with a 3% price increase. At the time of this post, the asset is above $700 and only 11% away from the all-time high of $794.
The momentum is clearly bullish, and higher highs are likely. If Binance Coin goes above $794, then it will enter price discovery, which could increase volatility and see it quickly rally much higher. The most important psychological target in such a scenario will be found at $1,000.
Looking ahead, this cryptocurrency is well-placed to dominate in the coming weeks and continue its excellent performance from 2024 into 2025. The most important level on the chart right now is $794. Watch it closely, as it will determine where BNB will go next.Solana (SOL)
Solana had a great week, closing it with a 12% rally. The price has been bouncing between $180 and $210 in the past three weeks, and this most recent rally has a good chance of seeing SOL leave this range and go towards $240, which is the current resistance.
A look at the chart below shows that SOL has made a higher low, and if this bullish trend is maintained, then the expectation is that the price will eventually make a higher high to exceed the current record at $264.
Looking ahead, Solana may be preparing for the next major rally that can see excitement return around it. Considering that a few major altcoins just made a new record price, Solana and others, like BNB, could be next.