XRP Unable To Break $0.46: Is Ripple Preparing For A 34X Surge By 2025?

XRP is firm when writing. Even so, it is below $0.46. Some analysts think Ripple will rally to over $17 by 2025

Written by: Dalmas Ngetich • Thursday, July 11, 2024 • 1 min read

XRP is holding on tightly when writing, looking at the formation in the daily chart. After recent losses, buyers have been resilient this week, arresting bears and plugging the bleed. The recovery means the coin is back in range, trending below $0.46. Aggressive traders can consider shorts on every pullback towards this reaction level, targeting last week’s lows. On the other hand, there will be a better trend definition that suits buyers if the coin roars above $0.52 and $0.55 on the other end.

The bounce means XRP is in green on the last day, adding 1%. Even so, gains didn’t help reduce losses. In the previous week of trading, the coin is down by 3%. The general inactivity also explains why trading volume is shrinking, dropping below $1 billion.

XRP Daily Chart for July 11

The following XRP and Ripple news are trending:

Amid the current lull, some traders are confident. If anything, the ruling in the ongoing court case will have a significant bearing on the price. Even as prices consolidate, one trader thinks the coin will soar to $17 by 2025.
While XRP is consolidating, 703 million coins were moved across two exchanges yesterday. The transfer caught the eyes of traders, causing worry. However, according to reports, these coins have not been liquidated.

XRP Price Analysis

XRP/USD remains under pressure despite being firm.

Traders can consider shorts as long as prices are below $0.46.

The coin is within a bear breakout formation following last week’s losses.

The dump confirmed losses of mid-April.

If prices drop today, the odds of XRP falling to $0.40 will be high.

Meanwhile, the trend will rapidly shift if prices defy the primary trend and float above $0.50.

Further gains above $0.55 will be monumental for the seventh most valuable coin. If the leg up is with rising volume, prices might soar to as high as $0.66 and $0.74.