XRP Records Highest Monthly Close Ever, Expert Sets Bullish Price Target

XRP has achieved its highest monthly close in history, surpassing a critical resistance level of $3. Financial expert Zach Rector highlighted this milestone in a recent post on X.

Rector recorded his YouTube video when XRP closed at this price, confirming his prediction and marking 16 consecutive days of closing above $3.

XRP Highest Monthly Close EVER! pic.twitter.com/aNIroA9yUH

— Zach Rector (@ZachRector7) February 1, 2025

XRP closed January at $3.0354 following a significant breakout in the middle of the month that sent it above $3 to a multi-year high of $3.39. This height is significant given XRP’s price history.

After reaching an all-time high of $3.84 in January 2018, XRP experienced a prolonged downturn, followed by years of price consolidation and suppression from the Ripple lawsuit . The asset failed to reclaim its all-time high in the 2021 bull market, and while it has yet to reclaim this level, the community’s hopes are higher than ever because of XRP’s recent performance.

Bullish Indicators and Market Excitement

The recent surge marks the end of the prolonged bearish trend, indicating renewed investor confidence and strong upward momentum. The price action suggests that XRP is preparing for a major breakout, and analysts have identified a bullish indicator that supports this upward movement.

One notable analyst recently drew attention to XRP’s breakout above the Bull Market Support Band (BMSB), which could precede a massive price rally. The analyst set conservative targets between $8 and $13 and is confident that the digital can climb as high as $31 following this feat.

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What’s Next for XRP?

Rector’s chart also has a lofty target for XRP. It shows that the asset could reach $23.9, over 700% higher than its current price of $2.96. While a broader market downturn has pushed XRP below $3, it still has time to reclaim the $3 level and close above it to preserve its streak.

The long-term implications of this breakout will depend on several factors, including continued institutional adoption, regulatory developments, and overall market conditions. If XRP sustains its bullish momentum, it could challenge previous highs and set new records soon.

XRP’s highest monthly close ever marks a critical moment in its market history. Despite the downturn, market participants are overwhelmingly bullish, and other analysts have also drawn attention to XRP’s resilience as a sign of a massive bull run in the immediate future.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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