TLDR:
- XRP’s price demonstrated strong performance, breaking above $2.45 with over 4% gains despite market pressure, while a megaphone pattern analysis suggests potential growth to $27.05
- A substantial whale movement of 30 million XRP (worth $76.1M) from Upbit to an unknown wallet indicates significant market activity
- Technical analysis reveals a “Megaphone Bottom” formation with a historically successful 70% win rate, coupled with a breakout from a symmetrical triangle pattern
- The SEC faces a critical January 15 deadline for filing its brief on the Ripple case appeal, with leadership changes including Gary Gensler’s upcoming resignation
- Current trading data shows XRP maintaining volume above key moving averages with strong support at $2.420 and resistance at $2.550
XRP’s market behavior has captured attention as the digital asset pushes through key resistance levels while approaching a crucial SEC deadline. The cryptocurrency has shown resilience by breaking above $2.45, marking a 4% increase despite broader market uncertainties.
In recent trading sessions, XRP demonstrated its strength by successfully moving past several technical barriers, including the $2.40 and $2.42 resistance levels. The asset reached a local high of $2.480, breaking above a bearish trend line that had previously constrained its movement.
Market watchers noted a major whale transaction involving 30 million XRP, valued at approximately $76.1 million, moving from South Korea’s Upbit exchange to an unidentified wallet. Such large-scale movements often precede notable market activity and have historically influenced price action.
The cryptocurrency’s technical indicators present a compelling case for continued upward movement. XRP has managed to establish itself above the 50% Fibonacci retracement level, calculated from its recent price range between $2.597 and $2.332. The asset maintains its position above both $2.4650 and the 100-hourly Simple Moving Average.

XRP Price
Trading analysis has identified key resistance levels that XRP must overcome for continued growth. The immediate challenge lies at $2.550, followed by the psychologically important $2.60 mark. Beyond these levels, additional resistance points exist at $2.620, $2.650, and $2.720.
Support levels have formed at strategic points, with the first notable floor at $2.480 and a stronger foundation at $2.420. Should these levels fail to hold, the next support zones are anticipated at $2.350 and $2.320.
Technical analyst EGRAG has identified a megaphone pattern in XRP’s price action, which historically boasts a 70% success rate. This pattern shows three major bottoming phases and corresponding upswings, with the current movement representing the third upswing phase.
The pattern’s historical development began with XRP’s first bottom at $0.00058 in September 2014, followed by a peak of $0.0306. The second cycle saw a bottom at $0.003 in January 2017 before reaching the all-time high of $3.5 in January 2018. The third bottom formed at $0.3899 in July 2024.
Based on Fibonacci retracement levels, EGRAG has outlined three potential targets for XRP’s current upward movement: $8.15 at the Fib. 1.272 mark, $13.3 at Fib. 1.414, and $27.05 at Fibonacci 1.618.
The price action occurs against the backdrop of upcoming regulatory developments. The SEC faces a January 15 deadline to submit its brief regarding the appeal of Judge Analisa Torres’s decision, which previously ruled that regular XRP sales did not constitute securities under the Howey Test.
Leadership changes at the SEC add another layer of complexity to the situation. Current Chair Gary Gensler and Commissioner Caroline Crenshaw are set to step down on January 20. Former Commissioner Paul Atkins, known for his pro-crypto stance, may join the commission.
Asian markets, particularly South Korean exchanges, continue to show strong support for XRP trading. The region maintains consistent trading volumes, contributing to the asset’s current price stability.
Order book data indicates balanced buying and selling pressure, with market makers maintaining tight spreads across major exchanges. This suggests healthy liquidity conditions for XRP trading pairs.
Recent trading patterns show XRP establishing higher lows on shorter timeframes, indicating steady buying pressure. Trading volumes remain stable, suggesting sustained market interest at current price levels.
The most recent data shows XRP trading at $2.54, maintaining its position above key moving averages while technical indicators, including the Relative Strength Index, remain in positive territory.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support