NAIROBI (CoinChapter.com)— Ripple’s XRP has continued to demonstrate resilience in the face of market-wide bearish sentiment, driven by strong buying activity from both retail and institutional investors. As of Jan. 14, XRP traded at $2.57, recording a weekly gain of 4%, while many top cryptocurrencies showed declines.
XRP Buying Momentum Defies Broader Market Sentiment
CoinShares reported over $41 million in XRP investment inflows last week, underscoring growing bullish momentum. Net exchange outflows further supported this narrative, with Binance, Bybit, and OKX registering withdrawals of $82 million, $63 million, and $59 million, respectively.
In contrast, Coinbase recorded $65 million in inflows, reflecting cautious behavior among U.S.-based investors.
The SEC’s January 15 deadline for its appeal filing in the Ripple case has drawn attention. While some in the XRP community see the delay as a sign of uncertainty, retired securities lawyer Marc Fagel called it typical litigation behavior, noting,
“In thirty years of litigation, I’ve rarely seen a lawyer file a brief early.”
The appeal’s outcome remains unclear, especially with SEC Chair Gary Gensler and Commissioner Caroline Crenshaw resigning on Jan. 20. Their departure could pave the way for pro-crypto Paul Atkins to influence the SEC’s stance on Ripple’s case.
Technical Patterns Point to Bullish Breakout
XRP recently broke out of a symmetrical triangle pattern, a technical indicator that traders view as bullish. Market analyst World of Charts predicts a 60% price increase if XRP sustains its breakout, with a target of $4 based on the triangle’s maximum height.
EGRAG Crypto, another analyst, highlighted a rare “Megaphone Bottom” formation, projecting an all-time high (ATH) of $8 if the pattern holds. The formation boasts a win rate of over 70%, reinforcing optimism among market participants.
Meanwhile, crypto trader “Dark Defender” noted that XRP has entered the final stages of its “throwback” after the triangle breakout, estimating a potential rally to $4.40 in the short term.
However, a reversal into the pennant pattern could trigger a retest of the $2.00 psychological support level. Indicators such as the Relative Strength Index (RSI) and Stochastic Oscillator remain above neutral, signaling prevailing bullish sentiment.
Javon Marks, a crypto analyst, predicts XRP could rally to $16.50 by March 2025, based on historical price cycles. He suggests that a full bullish run could see XRP achieve gains exceeding 7,000%, targeting prices between $111 and $168.
For now, XRP’s immediate focus remains on breaking the $2.90 resistance as institutional and retail investors continue to fuel its upward trajectory.
