The XRP price has formed a classic bullish flag pattern on the daily timeframe, indicating the potential continuation of an uptrend. With its price currently trading at $2.3, a crypto analyst has projected that the third largest cryptocurrency could soon experience a significant 45% increase to new highs of $2.9.
XRP Price Targets $2.9 With Bullish Flag Setup
A bullish flag is a chart pattern that often emerges after a sharp upward price movement, during consolidation, or a brief pullback. It signals that a cryptocurrency will likely resume its uptrend and continue increasing value to new price highs.
According to the new XRP price analysis by TradingView crypto analyst Cobra Vanguard, a new bullish flag pattern can now be seen on the daily timeframe in the XRP chart. The bull flag, which began forming around December 2024, extends into late January 2025.
Based on this flag formation, the TradingView analyst has shared an optimistic projection of XRP, highlighting several critical Fibonacci retracement and extension levels as potential support and resistance areas.
The 0.382 Fibonacci level at the $2.0 mark is an immediate support level for XRP during its consolidation phase. Despite trading at just $2.3, Cobra Vanguard believes XRP could see a minor increase to the 0.618 Fibonacci level at $2.4. This price level would mark a critical resistance level that could send XRP even higher once broken.
In his TradingView report, the analyst also enthusiastically predicted that if XRP can break out of its already formed bullish flag pattern, it could drive a massive 45% price surge to $2.9. This bullish price target aligns with the 1.0 upper Fibonacci extension level, as indicated by the XRP chart.
For a longer-term target, Cobra Vanguard projects that XRP could rise to the 1.272 Fibonacci level at $3.2. The realization of this optimistic price outlook would depend on XRP maintaining a strong upward momentum and simultaneously avoiding significant market corrections.
Cobra Vanguard‘s XRP price chart also suggests a breakout from the bullish flag pattern could happen sometime in January. As a result, the analyst’s ambitious $2.9 XRP price target is anticipated to occur within the first two weeks of February.
Analyst Says Surge To $13 Not Impossible Yet
Also commenting on the formation of the new bullish flag pattern on the XRP chart, crypto analyst Tony Severino projected an even higher price target for the third largest cryptocurrency. If the bullish flag pattern holds, XRP could reach a new target of $13.
While Severino acknowledges that a $13 price increase is ambitious and well beyond his earlier projections, he confidently maintains that it is not an impossible target to attain. The analyst’s chart suggests that if XRP breaks out of the bullish flag pattern, it could experience a remarkable 483.13% surge from its current market value.
