XRP (XRP) Going Through a Slump But It Might be a “Calm Before the Storm” – Does the Technical Data Suggest Another Surge in January 2025?

XRP is still going through a bearish rally, with a price of $2.14 and a 6.6% decrease in the last 24 hours.

Ripple (XRP) has been seeing strong price action lately, particularly after the August 2024 ruling in the SEC v. Ripple case, which found that retail sales of XRP were not securities transactions. This provided some regulatory clarity and boosted investor confidence in the cryptocurrency.

According to CoinMarketCap, XRP price today is $2.14 with a 24-hour trading volume of $1.2 billion. XRP is down 6.6% in the past 24 hours. It reached a high of $2.89 earlier this month on December 3.

The technical analysis suggests another surge in January 2025 might be unlikely.

We’ll have to wait and see how these predictions pan out and follow XRP’s price movements closely.

XRP technical analysis: another surge in January 2025?

XRP is still going through a bearish rally, with a price of $2.14 and a 6.6% decrease in the last 24 hours. While it reached an impressive high of $2.89 earlier this month on December 3, the market has been testing different support levels since then.

The Relative Strength Index (RSI) sitting at 43.27 suggests the asset isn’t clearly overbought or oversold, though it’s leaning slightly toward the bearish side.

The moving averages tell a similar story – with XRP trading below both its 50-day moving average of $2.28 and its 200-day moving average of $2.40, we’re seeing some potential bearish signals in the short term.

But the technical analysis is just part of the story. Ripple, the company behind XRP, has made some interesting moves that could have an impact.

Their new RLUSD stablecoin launch represents a strategic expansion into the stablecoin market, potentially making XRP more versatile in the broader financial ecosystem. While XRP handles fast transfers, RLUSD could provide the stability needed for certain types of transactions.

The recent developments with the SEC and the community’s anticipation of XRP being relisted on major exchanges could also factor into the price movements.

However, it’s crucial to remember that cryptocurrency markets are inherently volatile and can be influenced by various factors, making it difficult to predict precise price movements with certainty.