Popular Analyst Plots Ripple (XRP)’s Next Big Move

TL:DR;

• XRP has rebounded from its latest price drop below $2, but the asset may not be out of the woods yet.
• However, a popular crypto analyst suggested that a potential decline towards this level could once again be beneficial for XRP’s long-term price movements.

Ripple’s cross-border token saw massive success after the US election, climbing triple digits at one point and peaking at almost $3. All of these gains were made in the space of a few weeks, but the asset lost momentum in early December.

It fell several times over the following weeks, with the last drop to less than $2 occurring last Monday, December 30. This happened during the last market-wide correction.

However, the popular crypto asset responded well to this drop and has climbed over 20% since then, currently sitting at around $2.45. Consequently, XRP regained its place as the third largest cryptocurrency by market capitalization by surpassing Tether’s USDT.

According to analyst Ali Martinez, XRP is still below a strong resistance level of $2.73, which has halted the price rise several times during this rally. If the asset fails to overcome it quickly, it could fall back to $2.05.

However, Martinez actually believes that such a scenario could be a blessing in disguise for XRP, which could propel it to a new all-time high above $3.4 (CoinGecko data) and up to $11.

$XRP still consolidates within the pennant of a massive bull pennant pattern. Until the $2.73 resistance is broken, a pullback to $2.05 remains possible before a potential breakout to $11! pic.twitter.com/ET39FJMtAc

– Ali (@ali_charts) January 4, 2025

It’s safe to say that $11 looks pretty extraordinary for XRP. Such a price would bring the asset’s market cap to well over $600 billion, helping it surpass Ethereum in this regard. While this may seem plausible under a friendlier Trump administration, it is still a long way off and falls into the category of exaggerated price predictions.