XRP price soars: breaking through $2.64 could spark the next bull run

XRP, the native token of the Ripple network, is making a big splash in the crypto community. Well-known Crypto analyst Tony (@CryptoTony__) recently shared an optimistic update on X, showing a long-term long position from $2.10, with a critical resistance level of $2.64.

According to technical analyses shared by industry peers such as @0xWuki, surpassing this threshold could trigger the next bullish wave, potentially pushing XRP to higher targets such as $3.10 or even $5. This bullish sentiment is supported by the historical chart spanning from 2017 to 2025, showing the resilience of XRP after several years of consolidation. This cryptocurrency experienced an incredible price surge of 400% in November 2024, peaking at $2.42 before stabilizing at around $2.35, according to a report by Coinpedia. This rapid increase is driven by the landmark ruling of the U.S. court in July 2023 declaring that XRP is not a security in secondary sales, boosting investor confidence and paving the way for ETF speculation. Additionally, the anticipated launch of Ripple's stablecoin, RLUSD, and potential IPO plans have continued to fuel market enthusiasm. However, caution should be exercised. The (RSI) relative strength index is currently at the overbought level of 99.71, signaling the possibility of a near-term correction, a concern reflected in financial studies (ví e.g. Journal of Risk Management and Finance, 2021). On-chain figures and rising volumes suggest bullish momentum is on the rise, with news of ETFs and regulatory developments—such as the imminent departure of SEC Chairman Gary Gensler in January 2025—acting as potential catalysts. For investors, the turning point lies in monitoring a strong closing above $2.64, along with confirmation of volume and announcements related to the ETF. A successful breakout could attract sidelined buyers, amplifying the price rally. Conversely, failing to break this resistance level could lead to a pullback, testing support levels around $2.10.