Crypto
- XRP Prediction for January 24 shows $3 may act as strong support amid bullish technical indicators.
- Experts predict XRP could gain adoption under the Trump administration’s strategic crypto reserve.
- RSI at 64.32 suggests bullish momentum for XRP, but MACD indicates possible short-term correction.
XRP, the 3rd-largest cryptocurrency, seems to be embracing the power of 3. Holding steady above $3 despite market turbulence, the altcoin boasts a market cap of $179 billion. Its price, while down 1.5% in the past 24 hours according to CoinMarketCap, remains resilient after a remarkable 487% gain over the past year.
At the time of writing, XRP is trading at $3.15. Analysts note that the demand for XRP remains steady, even as the broader crypto market experiences a downturn. A post by “Vincent Van Code,” a well-known crypto analyst and AI entrepreneur, highlights that sell orders for XRP are minimal. This scarcity has helped the token maintain its price level.
Bullish Sentiments Backed by Experts
Mark Yusko, the founder of Morgan Creek Capital Management, has also shared bullish predictions for XRP. Yusko predicts that under the newly re-elected US president Trump’ administration, XRP could gain recognition as part of a strategic crypto reserve, alongside Bitcoin (BTC). Other potential contenders include Cardano (ADA) and Hedera (HBAR).
Related: SEC Forms Crypto Task Force Led by Hester Peirce: Ripple Reacts
Yusko also emphasized XRP Ledger’s utility in developing a central bank digital currency (CBDC) or enhancing the U.S. banking infrastructure. Improved relations between crypto entrepreneurs and the Trump family can also further XRP’s cause in wider adoption.
XRP Price Analysis Ahead of January 24, 2025
Relative Strength Index (RSI): Currently at 64.32, XRP is in bullish territory. However, the RSI gradient indicates a slight price correction may occur before further upward movement.
Related: Analyst Predicts an Expanded Crypto Reserve Covering Bitcoin and Selected Altcoins
MACD Indicator: A bullish divergence was confirmed recently, with the MACD line (blue) positioned above the signal line (red). However, the narrowing gap between the two lines suggests growing selling pressure. Despite this, the histogram remains positive, supporting a bullish outlook for XRP.
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