Ripple’s XRP token has witnessed quite a rally over the last few weeks. The asset breached the $3 mark for the first time in seven years. The project also overtook Tether (USDT) to become the third-largest crypto project by market cap.
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XRP is up 20.2% in the last seven days, 26.9% in the 14-day charts, 38.6% over the previous month, and 452.2% from a year earlier. Despite the rally, the asset is down by 1.2% in the last 24 hours.
XRP Predicted To Hit A New All-Time High
Ripple’s XRP token is currently down by 9.8% from its all-time high of $3.40. The asset peaked in January 2018, seven years ago.
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According to prominent cryptocurrency analyst Ali Martinez, XRP has broken out of a bullish flag. The analyst anticipates the asset to hit a new all-time high of $4.40. Hitting $4.40 from current price levels will entail a rally of about 43.79%.
$XRP has broken out of a bullish flag and now targets $4.40! pic.twitter.com/nP3iDuOuxY
— Ali (@ali_charts) January 21, 2025
CoinCodex also presents a bullish outlook for XRP. The platform anticipates the token to hit $4.73 on Apr. 6, 2025. Hitting $4.73 from current price levels will translate to a rally of about 54.58%.
Other Bullish Developments
Donald Trump recently took oath as the 47th President of the US. His pro-crypto stance could lead to an extended bull run over the next four years.
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The cryptocurrency market did not react much to Trump’s inauguration ceremony. XRP also faced a slight correction. The lack of an upward momentum could be due to the Federal Reserve’s hawkish monetary policy. An early interest rate cut could lead to a surge in crypto investments.