Ripple’s XRP eyes explosive rally to $5.85 as analysts predict major breakout amid price swings

Analysts believe Ripple’s XRP could hit $5.85 despite its volatile market performance. Last week, the crypto hit a peak of $2.87, sparking optimism among analysts for a rapid price surge. However, the bullish trend faltered as the price dropped to around $2, followed by fluctuating recoveries and dips.

Strategist Dark Defender, however, maintains that the token could reach its price targets. 

Analyst Dark Defender predicts XRP price surge

Technical analyst Dark Defender believes the XRP trading price could surge. In an X post on December 2, the analyst said, “We are warming up,” referring to XRP’s price action, believing the token could hit $4.11 or $5.85, with support levels at $2.13 and $1.88. At the time, XRP was trading at only $2.3207.

Other analysts, including Ben “BitBoy” Armstrong, supported his prediction, claiming the token could reach $4.5 before a major price dip. Some even argued that Ripple’s XRP could face resistance on reaching $3.84 before finally climbing to higher price levels. However, some pushed back at his projection, saying that XRP’s bullish momentum had been quashed, hinting that the token could even drop to $0.60.

In another post on January 2, the analyst updated the support and resistance levels, identifying the new resistance level at $2.42 and the new support level at $2.22 for the XRP token.

Dark Defender still expects the token to hit $5.85 after breaking past the $2.67-$2.72 levels. Currently, Ripple’s XRP is trading at $2.43, up by 1.80% in the last 24 hours.

Ripple’s XRP surges to $139B, overtakes Tether as 3rd-largest crypto

XRP has already surpassed Tether and is the third-largest crypto asset by market capitalization after Bitcoin and Ether. Now, the token’s market cap is perilously close to $140 billion, beating USDT’s, whose market cap has dropped by $1.6 billion since December 30.

XRP is also expected to see more gains in its market cap in 2025, especially with analysts projecting spot XRP ETFs. So far, four companies—Wisdom Tree, Bitwise, Canary Capital, and 21Shares — have already filed their S-1 registration statements to list their ETFs.

Moreover, with pro-crypto Paul Atkins expected to take over the SEC’s chair position, many are suggesting the commission will no longer pursue its appeal against Judge Analisa Torres’s ruling in its case against Ripple, which would be a plus to the company.