XRP Surges to Historic Monthly Close, Fueling Hopes for a New All-Time High
Bullish momentum continues to build within the XRPL ecosystem, as XRP achieves its highest-ever monthly closing in its 14-year history. The asset came remarkably close to a new all-time high in January, marking a significant milestone in its price trajectory.
XRP Hits a Multi-Year High
In January, XRP soared to an intra-month peak of $3.39 on the 16th, edging closer to surpassing its historical all-time high. However, despite its impressive performance, the token ultimately fell short of breaking into uncharted territory.
Even without setting a new record, XRP made history by securing its highest monthly closing price ever. Analyst Mr. Xoom highlighted this milestone, emphasizing the significance of January’s performance.
Back in January 2018, when XRP first reached its all-time high, the asset faced a sharp correction, retracing 68.3% and closing that month at $1.1240. The downward trend persisted, with XRP retesting support around $0.2700 in the following months. It remained in a prolonged consolidation phase until 2021, when a breakout propelled the price to $1.98 in April. However, momentum faded once again, leading to a period of underperformance that lasted until late 2023.
Now, XRP has regained strong bullish traction, supported by key macroeconomic factors and developments within the XRPL ecosystem. The resignation of regulatory figure Gary Gensler following Donald Trump’s election victory, along with the introduction of Ripple’s new USD-backed stablecoin (RLUSD), has further fueled investor confidence.
Following a remarkable 282% surge in November and an additional 7% gain in December, XRP closed January at a record-breaking $3.0359—its highest monthly close to date.
Anticipation Builds for a New All-Time High
XRP’s nearly 46% rally in January has ignited fresh optimism that the asset may finally surpass its long-standing all-time high. The strong monthly close invalidated December’s bearish shooting star candlestick, further reinforcing bullish sentiment.
Renowned trader Peter Brandt acknowledged XRP’s momentum, forecasting a potential 45% surge to $4.40. His projection is based on an imminent breakout from a flag pattern, which historically signals continued upward movement.
Additionally, market analyst Egrag Crypto presented an even more ambitious outlook, predicting XRP could skyrocket to as high as $31. He views a price range between $27 and $31 as an aggressive target, while considering a surge to $8–$13 as a more conservative scenario. His bullish stance is based on XRP’s successful breakout above the Bull Market Support Band (BMSB), a key technical indicator.
As of now, XRP is trading at $3.0214, experiencing a minor pullback from its historic January close. However, with growing institutional interest and increasing market confidence, the prospect of XRP setting a new all-time high appears stronger than ever.
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