XRP, a cryptocurrency associated with Ripple, experienced a significant price drop below $2.00 last week. However, it has since shown signs of recovery, driven by a bullish reversal pattern at a key support level.

According to CoinGecko, XRPUSD has risen approximately 14% as of this writing. The daily chart indicates that the $2.00 level acted as a pivotal support, with multiple bounces observed in recent sessions.

XRP Bounce Signals Buyer Confidence

At the latest bounce, two Spinning Tops candles formed, followed by a bullish engulfing candle, signaling renewed buyer confidence. This pattern appears to have encouraged market participants to push prices higher.

Resistance is anticipated at the $2.61 level. If breached, buyers may target the $2.91 level, which aligns with the December 2024 high. Further price movement will depend on maintaining upward momentum and market sentiment.

Analysts Forecast XRP's 2025 Potential Growth

For December 2024, analysts expected XRP to trade between $1.91 and $2.50. However, the immediate concern for the market remains the defence of current support levels to stabilize sentiment.

In January 2025, XRP is projected to fluctuate within a range of $1.35 to $2.12. By February, estimates suggest the price may vary slightly, between $1.30 and $2.50, as reported by Finance Magnates.

By the end of 2025, if institutional adoption gains momentum, analysts suggest XRP could potentially reach $5 or more. This would reflect growing market confidence and increased demand.

Egrag, an analyst with 70,000 followers on X (formerly Twitter), forecasts a more optimistic scenario. He believes XRP could rise to $50 in 2025, although such projections remain speculative.