As of January 2, 2025, XRP's price is $2.33, with futures open interest at $2.29 billion. The rising open interest alongside price growth signals increased trading activity, investor confidence, and strong speculative interest in XRP futures.
- XRP has surged by 15%, breaking its Bullish Flag Pattern, signaling the potential for continued upward momentum.
- Analysts predict XRP may climb by 80%, potentially reaching a target price of $4.45 in the near future.
XRP Trading Volume and Liquidations
- In South Korea, XRP's trading volume surpassed both Bitcoin and Ethereum on major exchanges.
- Over the past 24 hours, XRP recorded total liquidations of $14.16 million, with:
- $2.37 million from long positions.
- $11.79 million from short positions.
- Recent data shows a substantial spot inflow of $53.39 million worth of XRP into exchanges, marking the first inflow in two weeks.
- The inflow coincides with XRP's breakout from its consolidation phase, triggering upward price momentum.
Key dates in January 2025 that could influence XRP's price trajectory:
1. January 15: SEC's deadline to submit its appeal-related opening brief in the SEC v. Ripple case.
2. January 17: Democrat SEC Commissioner Jaime Lizarraga's departure from the agency.
3. January 20: SEC Chair Gary Gensler steps down, coinciding with Donald Trump’s Inauguration Day.
These events may introduce significant regulatory clarity or uncertainty, impacting XRP’s market dynamics.
Also read: Ethereum Eyes $4K as Monsta Mash ($MASH) Aims for 1000X Gains
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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