XRP Price Prediction As Ripple CEO welcomes “most pro-crypto Congress”

Ripple (XRP) price shows it is close to ending its month-long consolidation. Many expect a breakout from this rangebound movement to kickstart a parabolic rally that could push the XRP token to double digits. From a technical standpoint, this development comes as Ripple CEO welcomes the most pro-crypto Congress, hinting at a shift after Donald Trump’s victory in the US elections.

XRP Price Prediction: Ripple Edges Closer to Breakout

Ripple price action over the past two months has created a bull flag pattern. This setup can be split into two parts – a parabolic rally phase termed “flag pole” and a consolidation phase termed “flag.”

XRP’s near-500% rally between November 3 and December 2 formed the “flag pole,” and the consolidation in the form of a down-sloping parallel channel is called the “flag.” A decisive daily candlestick above the flag’s upper limit at roughly $2.56 will confirm a breakout. 

The bull flag is a bullish continuation setup that hints at a pause before the rally propels the underlying asset higher.

Ripple CEO Welcomes “Most Pro-crypto Congress” 

Crypto markets ended the eight-month consolidation and resumed the 2023 bull run after Donald Trump emerged victorious in the 2024 US presidential elections. Due to Trump’s pro-crypto regulations and vision, various positive developments have been noted. From vowing to bring in crypto-friendly laws to replacing the US SEC chair, Trump is giving cryptocurrencies to grow.

Ripple CEO Brad Garlinghouse posted on X,

“Today, here in the US, we welcomed the 119th Congress—better known as the most pro-crypto Congress in history. The journey is just beginning, but you can’t deny the energy & excitement already building across the industry. Let’s get to work.”

How High Can XRP Price Go In January 2025?

Investors can expect the first quarter of 2025 to be bullish for XRP and altcoin due to the drop in Bitcoin dominance. As noted above, the bull flag setup forecasts a massive bullish outlook for Ripple (XRP) with a double-digit target.

The bull flag’s target can be calculated by adding the flag pole’s height of 498% to the breakout point of roughly $2.56, which reveals $15 as the end goal for XRP. 

In a previous CoinGape article, we noted that XRP could reach $20 if it follows the 2017 price fractal before January 2025 ends.

Proof of Alt Season

As noted above, alt season could kickstart soon as Bitcoin dominance continues to drop. Alt season is a phase where capital rotates to altcoins, leading to a drop in Bitcoin’s market share. This rotation of funds is a pattern that investors follow, especially when BTC continues to move sideways after hitting a new ATH.

The above chart shows a steady decline in Bitcoin dominance, hinting that the alt season is edging closer to reality.

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Akash Girimath

Akash Girimath, an engineer by training, has developed a deep fascination with the complexities of cryptocurrency markets. As a senior reporter and analyst, he specializes in crypto analysis and contributes his expertise to notable platforms such as AMBCrypto and FXStreet. In addition to his analytical work, Akash actively trades cryptocurrencies and manages a small crypto fund for friends and family. His role involves providing insightful market analysis and keeping readers informed about the latest trends in the crypto world. Follow Him on Youtube , X and LInkedIn

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.