XRP’s recent price action has formed a classic bullish continuation pattern, signaling potential gains towards $15, with increasing open interest (OI) further supporting this upward momentum.
Bull Flag Suggests Further Rally
On the daily chart, XRP has printed a bull flag pattern—one of the most reliable indicators of sustained bullish movement. This technical setup often signals the continuation of a strong rally, and in this case, the price target is set at around $15.
After weeks of consolidation, XRP’s price has risen by 15% over the past seven days, pushing the altcoin to $2.44 on January 6, 2025. This price increase follows its rally to near $3.00 in early December 2024. While the broader crypto market has faced some volatility, XRP’s price action suggests it is poised for another upward push, supported by surging OI.
Surge in Open Interest Backs XRP’s Potential
XRP’s open interest has jumped dramatically by 45% over the last 24 hours, climbing from $2.6 billion to $3.7 billion. This surge in OI suggests that investors are anticipating further price increases, indicating rising demand and market activity.
Historically, such spikes in open interest have often preceded significant rallies. For instance, when OI increased by more than 100% in mid-July 2023, XRP’s price surged by 107%. Similarly, when OI grew by 76% in late November 2024, XRP experienced a 100% price increase. If this pattern repeats, the current surge in OI could signal the start of another major breakout, pushing XRP towards its bullish target of $15.
Bull Flag Pattern Targets $15
The formation of the bull flag pattern between November 2024 and January 2025 suggests that XRP is in a period of consolidation before a powerful breakout. The upper boundary of the flag is at $2.41, and if XRP closes above this level on the daily chart, it could trigger a rapid ascent toward its target price of $15—a potential 520% increase from the current price.
The 50-day simple moving average (SMA) at $2.10 also provides strong support, further bolstering the bullish outlook. Additionally, the relative strength index (RSI) is holding above the neutral 50 level, signaling that buying momentum remains intact.
Analysts Predict $15 by 2025
Several analysts have set a $15 price target for XRP, fueled by factors such as growing adoption, expanding partnerships, and broader market sentiment. Some also believe that the potential for a crypto-friendly environment under a pro-crypto administration could play a role in pushing XRP toward higher valuations.
Popular analyst Egrag Crypto has used Fibonacci retracement levels and Elliott Wave theory to predict that XRP could reach $15 by May 2025, further strengthening the bullish case.
As XRP continues to show strong technical indicators and increasing investor interest, its potential to hit new highs remains a key point of focus for traders and analysts alike.
