Why is the XRP price up today?

By Anshuman Roy 7 Min Read

NOIDA (CoinChapter.com)— XRP price has been on a strong upward trajectory in early 2025, reflecting bullish momentum despite a broadly volatile crypto market. Trading at approximately $2.27 as of Jan. 10, XRP price has surged over 300% since the U.S. presidential election in November 2024, outpacing most major cryptocurrencies. The rally coincides with increasing speculation about regulatory clarity under a crypto-friendly Trump administration.

Ripple’s ongoing legal battle with the SEC, which alleges XRP is an unregistered security, remains a key market driver. With a pivotal SEC filing deadline approaching Jan. 15, traders are closely monitoring developments.

In parallel, Ripple’s strategic initiatives, such as integrating Chainlink’s pricing infrastructure to support its RLUSD stablecoin, have added tailwinds to the price rally of XRP. Additionally, technical indicators like the SuperTrend signal have flipped bullish, echoing past patterns of significant XRP price rallies. Against this backdrop, open interest and funding rates have risen, signaling heightened market engagement and bullish sentiment. 

Bullish Market Sentiment

Strong market metrics have underpinned recent XRP price action, signaling robust bullish sentiment. Open interest in XRP futures rose steadily recently, indicating heightened capital inflows and increased trader participation.

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Why XRP price is up today
XRP futures open interest. Source: Coinglass

Concurrently, the funding rate remains positive, indicating dominance by long positions and expectations of further price appreciation. These metrics align with the broader optimism driven by Ripple’s recent developments, such as integrating Chainlink’s decentralized oracle infrastructure to support its RLUSD stablecoin.

The move enhances RLUSD’s role in decentralized finance (DeFi) by ensuring reliable pricing data for applications like lending and trading, strengthening Ripple’s ecosystem.

From a technical perspective, XRP’s SuperTrend indicator recently flipped bullish on the 12-hour chart, a pattern that preceded a 470% surge. The historical signal bolstered confidence among market participants. Additionally, posts about the indicator helped stir up the hype favoring an XRP bull run. The announcement of Chainlink Price Feeds adoption added credibility to Ripple’s efforts, with Chianlink’s infrastructure providing secure and tamper-proof data for RLUSD.

The partnership aligns with the firm’s efforts to recover the ground it lost battling the US SEC and its plans for expansion into DeFi ecosystems, potentially expanding its use cases and utility.

Additionally, the IBC Group tweet highlighted the social sentiment around XRP, revealing a contrarian setup. With sentiment at -0.60, traders’ pessimism provides a potential for a breakout, as such conditions often precede bullish reversals. The alignment of technical signals, positive funding rates, and strategic partnerships helps propel XRP’s price trajectory.

Brad Garlinghouse’s Meeting with Trump

Ripple CEO Brad Garlinghouse’s recent meeting with President-elect Donald Trump has sparked speculation about potential regulatory shifts favorable to XRP. The timing of this meeting is significant, as Ripple remains embroiled in a legal battle with the SEC over allegations that XRP is an unregistered security. With Trump’s administration expected to adopt a more crypto-friendly stance, the meeting has added optimism about regulatory clarity, which could benefit Ripple and its associated token.

Why XRP price is up today ETF
Garlinghouse’s meeting with Trump stoked the hype for an XRP ETF.

The anticipation of an XRP exchange-traded fund (ETF) has further fueled interest in the token. Rippl president Monica Long recently stated that XRP will likely be next in line for ETF approval after Bitcoin and Ether. Such a development would provide institutional investors with streamlined access to XRP, potentially attracting significant capital inflows.

Notably, the U.S. crypto market has seen an increase in ETF filings since the election, suggesting heightened industry confidence in regulatory approval under the new administration.

Market data supports the view that these developments have already attracted more buyers. Rising open interest and funding rates indicate increased engagement, while XRP’s outperformance relative to other major cryptocurrencies underscores its growing appeal. Ripple also reported a surge in U.S.-based partnerships following Trump’s election win, highlighting a positive shift in sentiment toward the firm.

While the outcome of the SEC case and ETF filings remains uncertain, these narratives suggest a bullish outlook for XRP in 2025.

XRP Price Forms Bullish Technical Setup

XRP’s price action has recently formed a bullish technical pattern known as the Bull Flag, which often signals the continuation of an existing strong uptrend. This pattern consists of two key components: the flagpole, representing the sharp upward movement in price, and the flag, a consolidation phase that follows. The flag typically forms as price trends slightly downward or sideways within a channel, reflecting a temporary equilibrium between buyers and sellers.

XRP price is up today
XRP price formed a bullish technical pattern with a 379% upside target. Source: Tradingview

The Bull Flag is widely regarded as a continuation pattern, meaning the asset will likely resume its prior trend once it breaks out of the consolidation phase. In XRP’s case, the steep rally preceding the consolidation established a strong flagpole, and the ongoing price action within the flag suggests buyers are maintaining pressure, preventing a significant drop. This consolidation is often seen as a healthy pause before another strong upward movement.

Technical analysts calculate the breakout target by adding the flagpole length to the breakout level. For XRP, the flagpole’s length suggests a potential price target of $10.8, representing a possible 379% increase from current levels. However, achieving this target depends on several factors, including sustained bullish momentum, broader market conditions, and potential resistance levels.

Moreover, bull flag patterns have historically been reliable indicators in strong markets, provided volume supports the breakout. Traders will closely monitor XRP’s movement for a decisive break above the flag’s upper boundary, which could validate the pattern and trigger a fresh rally.

 

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