XRP price history in AUD

XRP, the cryptocurrency associated with Ripple Labs, has seen a significant rise recently. Currently, the price of XRP is AUD 4.691198. Over the last day (at the time of writing), the digital asset has increased by 11.12%, marking a notable increase. XRP also saw an increase of 22.54% for the week and 20.67% for the month. In the last six months, XRP has seen a staggering 412.85% increase, while its 1-year increase stands at an impressive 426.08%. Over its lifetime, XRP has risen a staggering 51,137.11%.

Figure 1: XRP increase over one day as of January 15, 2025 (Source: CoinSpot)

Market trends and XRP performance

XRP’s market capitalization is currently A$262 billion, with a 24-hour trading volume of A$15.5 billion. XRP is quickly becoming a dominant player in the cryptocurrency space, attracting attention from investors and analysts alike. The digital asset’s volatility has contributed to its rapid price movement, and experts predict further gains in the coming months.

Also read: The Meteoric Rise of XRP: Rising Value, Legal Successes, and Growing Institutional Interest

Bullish chart patterns and expert forecasts

One of the main reasons for XRP’s positive price performance is its bullish chart patterns. Veteran chart analyst Peter Brandt expressed optimism about the future of XRP. On January 12, he shared a chart that showed a clear bull flag breakout on XRP’s daily timeframe. He believes this signals a promising bullish trend for the digital asset. Brandt, who was previously cautious about XRP, now sees it as a “frontrunner” and expects it to achieve an increase in market capitalization by 2025. He set a short-term price target of $3.4 for XRP, driven by the current bullish momentum.

Brandt further explained that the outbreak confirms the market’s expectations that XRP will see a significant increase in the near future. Analysts and traders are closely monitoring XRP price movements as they expect further price increases due to the positive market sentiment.

Also read: The Meteoric Rise of XRP: Rising Value, Legal Successes, and Growing Institutional Interest

Whale activity and market sentiment

XRP’s recent price movement is supported by increased whale activity. Many traders have shorted XRP at the $2.60 level, and market makers are likely to target these positions for liquidation. According to Whale Alert, 24 million XRP were recently transferred from Upbit to an unknown wallet, a sign of confidence in the future of the cryptocurrency. This type of movement is often viewed as an indicator of positive market sentiment.

Market participants are also optimistic about the resolution of the ongoing legal dispute between Ripple and the US Securities and Exchange Commission (SEC). Many believe that the resolution of this dispute could lead to a friendlier regulatory environment for XRP. The possibility of an XRP-based ETF approval has also caused quite a stir, which could further increase XRP’s mainstream acceptance.

Technical indicators and future price development

XRP’s technical indicators suggest that more gains are ahead for the cryptocurrency. The breakout above the upper trendline of a symmetrical triangle and the rise above the 8-day simple moving average triggered buying activity among traders. The Average True Range (ATR) is 0.1777, indicating increased volatility and the potential for further price movement in the coming days.

The ADX value of 15.48 suggests that XRP’s uptrend is gaining momentum and has plenty of room for further strengthening. However, analysts warn that XRP must remain above the $2.50 level for the bullish outlook to remain valid. If XRP cannot hold this level, the bullish patterns could be invalidated and a trend reversal could occur.

Legal developments and the future of XRP

Ripple’s legal victories against the SEC have contributed significantly to XRP’s price rise. In late 2024, Judge Analisa Torres ruled that XRP was not a security under federal law, increasing market confidence in the cryptocurrency. Although the SEC has appealed the decision, the ruling has made investors more optimistic about the future of XRP. Ripple leadership believes that resolution of the case is imminent, especially with new crypto-friendly SEC Chairman Paul Atkins.

Ripple’s recent launch of Ripple Liquid USD (RLUSD), a stablecoin backed by cash and US Treasuries, has also supported the XRP ecosystem. The RLUSD is expected to increase the utility of XRP by simplifying conversion between fiat currency and cryptocurrency, making transactions faster and more secure.

XRP’s Growing Utility and Partnerships

Ripple continues to promote XRP as a global payment standard. XRP’s low transaction costs and fast settlement times make it an attractive solution for international payments. Ripple has partnered with over 300 financial institutions, including major players such as American Express, Santander and SBI Holdings. The company’s On-Demand Liquidity (ODL) service, which uses XRP to enable real-time international payments, is now active in over 40 markets worldwide. The Central Bank of Bhutan is even integrating XRP for remittances, further evidence of its growing utility.

Ripple’s bright future

As the price of XRP continues to rise and the cryptocurrency gains general acceptance, its future looks bright. Analysts predict that XRP could reach new all-time highs in the coming months, with some predicting a market cap of $502 billion by 2025. XRP’s growing adoption and legal successes combined with its technical dynamism make it a standout performer in the crypto market.

Diploma

XRP is positioning itself as one of the most promising cryptocurrencies on the market. The recent price increase, bullish chart patterns, increasing whale activity, and positive legal developments suggest that XRP could see significant gains in the coming months. As Ripple continues to expand its utility and partnerships, XRP is poised for a strong rally, with some analysts predicting new all-time highs. Investors and traders will be closely monitoring XRP’s progress as it continues to make waves in the cryptocurrency space.

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