Ripple (XRP) price is edging closer to ending its four-week rangebound movement. This consolidation began after the token hitt a 2024 high of $2.90 on December 3 and investors speculate that a breakout could lead to another parabolic rally, similar to what was witnessed between November 3 and December 3. If history repeats then XRP price could hit $20 before January 31, 2025. Let’s also explore how a Ripple ETF fits in this picture and affect value of XRP in the short-term outlook.
Can XRP Price Hit $20 Before January 31?
In the second quarter of 2017, XRP price rose 1,200% and slipped into consolidation for the next 24 days. This price action is similar to what’s happening now. Ripple bulls triggered a 600% rally, which was followed by a 28-day consolidation that ended with a 12% rally on January 1. Due to the similarity of these moves, one can assume that even if history rhymes, it could lead to another parabolic ascent for XRP token. The chart below shows that Ripple price repeats 2017’s move, it could roughly hit a peak of $20 after a 711% rally in less than three weeks, aka, before the end of January 31.