XRP Price Prediction for January 7, 2025
XRP, the native token of Ripple Labs, is constantly gaining attention from cryptocurrency enthusiasts and seems poised to rise significantly. Today, January 7, 2024, a well-known cryptocurrency expert posted on X (formerly Twitter) and made a bold prediction for XRP.
Experts Say XRP Buy Signal
The expert noted in an article that the last time a technical indicator called Supertrend turned bullish on the 12-hour time frame, XRP surged by 470%. Now, the altcoin has once again flipped bullishly and issued a buy signal. The article on
However, the indicator flipped during a period when XRP looked stable and seemed to be struggling to gain momentum.
At press time, XRP was trading close to $2.41, with prices inching up 0.81% over the past 24 hours. During the same period, its trading volume surged 10%, indicating increased participation from traders and investors compared to the previous trading day.
XRP Price Action and Key Levels
According to expert technical analysis, XRP has been consolidating within a tight range between $2.37 and $2.46 for the past five days after breaking out of a bullish pennant pattern on the daily time frame.
Based on recent price action, if XRP breaks out of this consolidation and closes above the $2.48 mark, it has a good chance of surging 85% to $4.54 levels in the future.
Investor and trader interest rises
As of now, traders and long-term holders appear to be more interested in altcoins, according to on-chain analytics firm Coinglass.
Spot inflow/outflow data shows that during the same consolidation period, the exchange witnessed $38.02 million worth of XRP outflows. This suggests that long-term holders continue to accumulate altcoins despite consolidation.
However, outflows are when assets move from an exchange to the wallets of long-term holders, indicating potential buying opportunities and upward momentum.
