XRP price jumped 10% in the last 24 hours, reclaiming the $2 level as bullish momentum spread across the crypto market.
XRP flipped BNB to become the third-largest cryptocurrency by market capitalization as bullish momentum mounts.
Bitcoin price surged above the price of $90,000, and Ethereum price rose above $3,000, which pushed XRP.
The level of trading jumped by 190% to reach $4.27 billion, and confidence was restored by the investors. In case the crypto market conditions would be good, XRP may continue to gain in January 2026.
Analyst Sees XRP Price Preparing for Potential Upside Expansion
According to the current price action, a crypto analyst has identified a possible bullish formation on the XRPUSDT chart.
The analyst provided a 12-hour chart that indicated that XRP was trading within a long-term downward channel. The price action seems to be congesting around the lower trendline, which is an indication of decreased selling pressure.
As per the chart, XRP has begun to create high-low formations at major support areas. This construction normally indicates rising buyer interest following a long downward trend.
$XRP is getting ready for Massive bullish Rally📈#XRPUSDT #XRP #Crypto pic.twitter.com/X5mm6TYvNa
— Clifton Fx (@clifton_ideas) January 2, 2026
The analyst has pointed out that there is a potential breakout higher than the line of descending resistance. An agreed step higher than this can bring about a powerful upward continuation. The targets set out in the chart indicate a steep upward trend in the case of momentum.
XRP Derivatives Volume Hits $3.71B as Activity Spikes
XRP derivatives activity strengthened sharply as trading interest increased across major futures markets during the latest session.
The figures indicate that the volume of derivatives trading has increased by more than 167% with a figure of about 6.86 billion in the period being reported.
The open interest also increased by almost 6% and reached approximately 3.61 billion, which is an indication of increased capital commitments by the traders.
An increase in volume and a corresponding increase in open interest is frequently regarded as a marker of a revival of speculative interest in the market by the market participants.
XRP Price Holds Above $2 as Bulls Eye $2.30 Next
At the time of writing, the XRP price hovered at $2.00, marking a 10% daily increase. The chart indicates that after breaking the support of $1.90, XRP continues on the momentum and serves as a firm base to buyers.
The second resistance would be at the level of $2.10, then $2.20, and $2.30 in case the bullish mood continues.
The MACD indicator is at the bullish stage, and the blue MACD line is above the signal line, which is a confirmation of positive momentum.
In the meantime, the RSI is at 68, which is approaching the overbought zone, meaning that short-term consolidation could be experienced before further rise.
In case the buying pressure persists, the XRP price will target between $2.10 and $2.30. Nonetheless, breaching the above support of more than $1.90 could be an invitation to a momentary backlash to $1.85.