XRP has positioned itself as one of the top performers in the crypto industry for January. The Ripple-backed coin has surged by over 45% in the last 30 days, triggered by several updates and developments within Ripple.
This impressive performance positions XRP as a promising project worthy of attention in 2025. Notably, XRP outpaced other top cryptocurrencies including Bitcoin (+11.63%), Ethereum (-2.64%), Solana (+24.36), and BNB (-3.5%) this month according to on-chain data.
Factors Driving XRP Growth
As earlier mentioned, XRP’s trajectory has been boosted by key updates involving Ripple and the XRP Ledger (XRPL). Particularly, on December 10, 2024, Ripple received approval from the New York State Department of Financial Services (NYSDFS) to launch its stablecoin, RLUSD.
Also Read: See How Much XRP Ripple Co-Founder Has Dumped This Year
Following that, the company received a money transmitter license in Texas and New York on January 28, enhancing its ability to offer financial services across the United States. Consequently, the company now has over 60 global approvals to deliver its services worldwide.
Ripple’s growing appeal has also attracted top financial institutions, now utilizing XRP for cross-border payments. According to a recent report by Santiment, major institutions have integrated XRP into their payment systems.
Also, Ripple has secured key partnerships including its most recent with Ondo Finance, enabling tokenized U.S. Treasury securities to the XRP Ledger. Moreover, several banks including American Express Bank, Santander Bank, UBS Group AG, and J.P. Morgan Chase are now using Ripple products.
Possible XRP Price Moving Forward
Amid the XRP growth, crypto experts are analyzing and predicting bullish outcomes for XRP in 2025. Recently, Dark Defender, a notable member of the crypto community, revealed a possible price target for XRP in the short term. According to him, XRP could experience a breakout to $4 following confirmation on its 4-hour and 1-day time frames, pointing to $3.07 as support.
XRP Chart | Source: Dark Defender/X
Another analyst, Armando Pantoja, revealed that XRP is on the verge of achieving a new all-time high. He cited the Bollinger Bands on the XRP daily chart, noting that they are tightening, indicating an explosive move ahead. Pantoja added that if XRP breaks the upper band, the coin could see an exponential price movement.
🚨BREAKING: $XRP on Verge of All-Time-High Breakout 🚀
The Bollinger Bands on #XRP’s daily are tightening significantly, signaling a explosive move ahead.
if $XRP pushes past the upper band, we will see it skyrocket. pic.twitter.com/oeCQR8HCrH
— Armando Pantoja (@_TallGuyTycoon) January 29, 2025
Traders Remain Cautious
While sentiment surrounding XRP remains bullish, traders are treading with caution. A previous report by 36crypto highlighted a likely scenario of a significant dip in XRP price in the short term. The report uncovers a growing bearish trend in the XRP market, with key indicators pointing toward a possible decline to $2.50.
Also, on-chain data reveals a notable drop in XRP active wallets, which could signify declining investors’ interest in the asset. Precisely, active addresses saw a 39% drop over the last month, declining from 108,771 on December 2, 2024, to 40,292 by January 28.
If this trend continues, XRP could experience heightened selling pressure leading to more price declines before any possible recovery. At the time of writing, XRP traded at $3.08, representing a 0.76% decline in the last 24 hours.
Also Read: XRP Lawsuit to End Today? SEC Latest Update Spark Speculation
