By Nermeen Nabil Khear 
TLDR
- XRP experienced a dramatic price surge of over 25%, recovering from a low of $1.75 to trade above $2.50, demonstrating strong market resilience
- Multiple experts, including Dark Defender and EGRAG CRYPTO, have projected ambitious price targets ranging from $5.85 to $18.22 based on technical analysis
- Pro-XRP lawyer John Deaton suggested XRP could potentially overtake Ethereum as the second-largest cryptocurrency, with an $8 price target
- A recent 500 million XRP token unlock by Ripple created temporary selling pressure but hasn’t significantly impacted the overall bullish momentum
- Technical indicators show strong support at $2.50 with immediate resistance around $2.82, while trading volume remains substantial at $21 billion
In a notable market development, XRP has demonstrated remarkable recovery strength, surging more than 25% from recent lows. The digital asset, which touched $1.75 during recent market turbulence, has rebounded substantially to trade above $2.50, showcasing strong buyer interest across major trading platforms.
The price movement began with a steady accumulation phase near the $2.00 level, gradually building momentum as buyers entered the market. Trading data shows that XRP reached a 24-hour high of $2.78, while maintaining a robust trading volume of $21 billion, despite a 36% decrease in overall market activity.
Technical analysis from market expert Dark Defender suggests that XRP is currently navigating its fourth wave in the intermediate cycle. This positioning, according to the analyst, creates favorable conditions for a potential fifth-wave rally. Based on patterns observed since July 2023, Dark Defender projects a possible price target of $5.85.
XRP had a 4th Wave on his Intermediate Cycle, which I highlighted in Dark Blue, aiming for $5.85 with the 5th Wave.
On the other hand, Primary Cycle Waves, highlighted in Light Blue, still aim for $18.22. (Not Financial Advice)
I have used the same structure since July 23,… pic.twitter.com/CZXFSRyftb
— Dark Defender (@DefendDark) February 3, 2025
The recovery pattern has drawn attention from multiple market analysts, including EGRAG CRYPTO, who cited analysis from Squeky Mouse pointing to alignment with a potential rally toward $5.20. These projections are based on recurring market patterns and technical indicators that have previously served as reliable guides for XRP price movements.
Market dynamics have been further influenced by Ripple’s recent unlock of 500 million tokens from its escrow. While such events historically create temporary selling pressure due to increased supply, the current price action suggests strong absorption of the additional tokens by market participants.
The hourly chart analysis reveals a break above a bearish trend line, with resistance previously established at $2.420. This technical development has opened the path for further upward movement, though immediate resistance levels remain near $2.820.
John Deaton, a prominent pro-XRP lawyer, has shared an optimistic outlook for the digital asset. His analysis suggests potential for XRP to challenge Ethereum’s position as the second-largest cryptocurrency by market capitalization, setting an ambitious price target of approximately $8.
Supporting technical indicators show the MACD gaining momentum in the bullish zone, while the Relative Strength Index (RSI) maintains positions above the 50 level, indicating sustained buying pressure in the current market conditions.
The price recovery has established several key support levels, with $2.620 serving as immediate support and $2.450 acting as a secondary buffer zone. These levels have been tested during recent trading sessions and have held firm, suggesting strong buyer presence at these price points.
On the resistance side, the $2.80 and $2.820 levels represent immediate hurdles for further upward movement. A successful breach of these levels could open the path toward the $3.00 psychological barrier and potentially higher targets.
Dark Defender’s analysis includes a longer-term primary wave cycle projection suggesting possible movement toward $18.22, though this remains a speculative long-term target requiring sustained market support and favorable conditions.
The hourly price action shows XRP trading below the 100-hour Simple Moving Average, indicating potential for short-term consolidation before the next directional move. This technical setup typically provides opportunities for both buyers and sellers to establish positions.
Current market structure suggests the formation of higher lows, a pattern typically associated with strengthening uptrends. This formation has developed despite broader market volatility, highlighting XRP’s relative strength during uncertain market conditions.
Trading volume patterns indicate concentrated buying activity during price dips, suggesting strong market interest in accumulating positions at lower levels. This behavior often precedes sustained price appreciation phases.
Recent price action has retraced approximately 61.8% of the downward move from the $3.155 swing high to the $1.750 low, a level often watched by technical traders for potential reversal points.
At press time, XRP maintains trading activity above $2.50, with immediate price action focused on establishing support above this psychological level. Market participants continue to monitor volume profiles and order book depth for signs of sustained buying pressure.
The post XRP Price: Maintains Momentum Above $2.50 Despite Market Volatility appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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