As we step into 2025, XRP has taken the cryptocurrency scene by storm, showing a remarkable start to the year. Recently, this digital asset witnessed an impressive 11% surge, bringing its price to approximately $2.42, a milestone not reached since the market’s adjustment in late 2024.
With this upward momentum, XRP has officially claimed the title of the third-largest cryptocurrency, boasting a market cap of around $139 billion, beating out Tether (USDT), which currently sits at $137 billion, according to data from CoinGecko. What’s fueling this excitement? Analysts point to a resurgence in market sentiment, particularly following the election of President Donald Trump on November 5. His victory has reignited optimism in the digital asset space, sparking significant buying activity across various cryptocurrencies.
Prominent crypto analyst DarkDefender has been closely monitoring this trend. He noted that after XRP stabilized around $2.11, it successfully broke through an initial resistance at $2.22, even reaching highs of $2.44. He emphasized $2.42 as a crucial level that has now become a new support. According to DarkDefender’s insights, if XRP can push past the $2.67 to $2.72 thresholds, it could unleash a substantial rally, potentially sending prices soaring up to $5.85—an extraordinary 141% increase from its current standing.
Adding more fuel to the fire, another analyst—CryptoinsightUK—has thrown his hat into the ring, suggesting that if XRP follows a similar path to its previous price movements, it could “easily surpass $10.” He draws inspiration from Elliott Wave Theory, which suggests that market movements occur in waves. If XRP enters a “wave 3” scenario, typically the most robust, we could witness this cryptocurrency surpass the $10 mark. Many investors are currently eyeing the $8 level, which CryptoinsightUK believes is a realistic target based on various metrics.
As 2025 progresses, XRP’s formidable start and the surrounding market dynamics suggest we might be on the brink of a significant transformation in the cryptocurrency sector. The political changes and refreshing market sentiment have set the stage for a renewed growth phase for XRP and the broader cryptocurrency landscape.
Trading data indicates that XRP is currently priced at $2.42, reflecting a 2% increase over the last 24 hours. However, trading volume has dipped almost 42%, totaling $5.6 billion according to CoinGecko. The daily chart shows a positive trend, signaling further promising potential for XRP as it continues to capture investor interest and market confidence.
