Why is Ripple (XRP) price going up today?

TL;DR

XRP rose 12% in 24 hours to $2.37, driven by a broader renaissance in the crypto market and increased network activity, including higher transaction volumes. Technical indicators, such as tightening Bollinger Bands, suggest that a significant price move could occur, indicating the potential for a significant rally or sharp correction. Back to the Green Track

Ripple’s XRP behaved quite erratically between Christmas and New Years, with its price briefly dipping below $2. However, the bulls intervened in the first two days of 2025 and pushed the valuation to $2.42. XRP is currently worth around $2.37 (according to CoinGecko data), representing a 12% increase on a 24-hour scale.

XRP Price, Source: CoinGecko

One factor that may contribute to the solid resurgence is the general renaissance of the cryptocurrency market. Bitcoin (BTC) topped $95,000, Ethereum (ETH) topped $3,400, while Solana (SOL) posted a 9% daily pump to $206.

Other leading digital assets in green today (January 2) include Dogecoin (DOGE), Cardano (ADA), Stellar (XLM) and many more. Meanwhile, the total market capitalization of the crypto sector jumped back above $3.5 trillion.

Another factor could be the increase in some essential metrics related to XRP. The data shows that the volume of account-to-account payments and the number of executed transactions rose to multi-week highs on January 1.

These resurgences usually suggest increased interest or activity in the XRP ecosystem. Positive trends in these indicators could reflect bullish sentiment, attracting more buyers and possibly putting upward pressure on valuation.

Recent XRP Predictions

Although the price of XRP has soared by triple digits in the past year, many analysts believe that the rally is far from over. User X, Captain Faibik, recently stated that the asset “looks promising” for another 50% jump, setting $3.66 as the next target.

Earlier this week, JAVON MARKS and Ali Martinez also chimed in. The former believes that the XRP price condition resembles that seen in 2017 (shortly before the bull run that took it to a new all-time high).

“Prices right now may just be getting ready to break out of an ‘intermediation phase’ before another ‘breakthrough’ bull rally! It may be time to buckle up,” opined l ‘X user.

For his part, Martínez envisioned a “big move” based on compressed Bollinger bands. The technical indicator, developed by John Bollinger in the early 1980s, helps traders detect when an asset may be overbought or oversold and spot potential price breakouts or trend reversals.

Tightening bands means that XRP has experienced relatively low volatility for an extended period of time, which could be a precursor to a big rally or a sharp pullback.

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