XRP in Focus: Technical Breakout Could Take Crypto to $5,85 by 2025

• XRP Could Reach $5,85 in Technical Breakout
• Support at $1,95 is crucial to maintain the upward movement.
• Regulatory factors drive growth expectations for 2025.

XRP, one of the most traded crypto assets on the market, is attracting attention as analysts highlight a potential breakout that could see the digital currency reach levels as high as $5,85. Technical movements and regulatory factors are on investors’ radars, indicating that the cryptocurrency’s trajectory could be about to change significantly.

The Bollinger Bands are squeezing on the $ Xrp daily chart, indicating a big price movement is underway! pic.twitter.com/CvxomYnH5E

— Ali (@ali_charts) December 30, 2024

According to analysis by expert Dark Defender, XRP is currently in a descending triangle pattern on the daily chart, an indicator often associated with significant bullish movements. The crucial support identified is at $1,95, which is considered a key point to sustain the coin’s position against market swings.

Should XRP manage to hold this support, immediate resistances are expected at $2,22, $2,72, and $2,90, with the potential to reach the long-term target of $5,85. However, if the support at $1,95 is lost, the coin could retreat to the $1,88 or even $1,63 levels, which would invalidate the current bullish scenario.

Regulatory and Market Impacts

In addition to technical indicators, the appointment of crypto advocate Paul Atkins as SEC chairman by former President Donald Trump has raised expectations of a favorable outcome in the long-running legal battle involving Ripple Labs. The SEC hearing, scheduled for January 15, 2025, days before the presidential inauguration, could bring important news for the future of XRP.

Another factor that adds pressure to the market is Ripple Labs' escrow system, which releases 1 billion XRP tokens into the market every month. This mechanism, which increases the supply of XRP, is often pointed out as an element of imbalance in price dynamics, especially in times of high volatility.

At the time of publication, the price of XRP was quoted at US$2,07, up 0.5% in the last 24 hours.

Price Outlook

Despite a 27% drop since its high of $2,71 on December 2, XRP still boasts a year-to-date growth of 258%. Currently trading at $2,12, the asset has seen a daily increase of 5,8%, showing resilience in the face of adverse market conditions.

Although regulatory and market factors bring optimism, investors continue to pay attention to support and resistance levels to assess possible movements in the short term.