• XRP has lost the third position in the market after a 4.40% price drop in the past week.
• A breakout above $2.55 is necessary to confirm an uptrend for the XRP token.
• An analyst predicted that XRP will see a bullish or bearish breakout between Jan 16th and 31st.

XRP faces a critical price juncture, hovering between $2 support and $2.50 resistance. After a 4.40% decline this week, the altcoin ceded its third-place market position to USDT, the largest stablecoin by market cap.

According to CoinMarketCap data, XRP trades at $2.31, reflecting a 0.43% dip in the last 24 hours, with a market capitalization of $132.58 billion. It remains 39.95% below its all-time high, but analysts suggest that breaking the $2.50 resistance could set the stage for a potential surge.

Analyst Speculates on XRP’s Next Move

Crypto analyst EGRAG CRYPTO shared insights on X (formerly Twitter) about XRP’s price dynamics, noting its symmetrical triangle pattern. According to the analyst, XRP needs to either breach $2.55 or drop below $2.07 for any significant momentum. Until then, price action may remain subdued.

The analyst predicted a bullish scenario if XRP completes the symmetrical triangle breakout and initiates an ascending Pennant pattern. A breakout above $2.55 could mark the start of a rally to new all-time highs.

Trump’s Presidency Signals a Bullish Outlook for XRP

With Donald Trump set to begin his presidency on January 20th, many anticipate a renewed crypto market uptrend. Analysts speculate that if XRP surpasses $2.55 on Inauguration Day, new all-time highs could materialize.

Read also: Bitcoin Stalls as Ripple’s XRP Quietly Gains Institutional Ground

Trump’s administration has signaled strong support for cryptocurrency adoption, with policies emphasizing domestic Bitcoin production and regulatory clarity. Reports also suggest that Ripple, Coinbase, Kraken, and other leading crypto firms contributed to Trump’s Inaugural Committee.