- Bitcoin price has risen by 6% and has re-entered the $20,000 price zone.
- Ethereum price rallies back to $1,450, a 22% increase since January 1.
- XRP price is up 3% on the day and aims to rise above $0.40.
The crypto market has made a full u-turn and is charging north impulsively. The vertical incline being displayed could extend towards much higher targets.
Bitcoin price back to $25,000?
Bitcoin price is up 6% on the day, making the trending relief rally a 20% gainer since January 1. The daily spike (now the largest daily gainer of the month) has gone completely vertical, breaching past a trendline that halted previous uptrend attempts throughout the fall.
Bitcoin price currently auctions at $20,017. Zooming out, the previous range shows converging trendlines from the June 18 low and August 15 high, as the BTC price failed to break each side of the range throughout the summer and fall. Elliott Wave practitioners suggest that an "Ending Diagonal" as a possible explanation for the confining range.
If the recently breached trend line is a part of an ending diagonal pattern (commonly found near market reversals) the bullish target zones could be the fialnals origin point above the August high resulting in an additional 25% rally from Bitcoin's price today.
A Fibonacci retracement level from the bullish cross of the 8-day exponential moving average and 21-day simple moving average at $16,655 and the $25,000 high shows resistance levels at $20,430 and potentially $21,440. These levels could act as temporary resistance points before BTC ultimately moves toward the anticipated target zone.
BTC/USDT 1-Day Chart
Invaliartion of the trend s subject to interpretation. Day traders could place their stop loss under the trendline at $17,000, while the conservative Elliott Wave approach would be a breach below the 2022 low at $15,476.
Ethereum price is in profit
Ethereum price has confirmed the bullish bias mentioned throughout the winter and has hit the ideal target at $1,450. Since the beginning of the month, analysts have been calling for a potential challenge of the mid-$1,400 barrier after ETH crossed over the $1,230 support zone.
Ethereum price currently trades at $1,458. Traders participating in the bullish trade are well in profit as ETH now bolsters a 22% gain since January 1. The next key targets are near $1,600. The price zone is a critical liquidity level that has remained untagged since ETH fell from $1660 to $1,073 during the first week of November.
ETH/USDT 1-Day Chart
Invalidation of the trade idea could be placed under the $1,344 pivot point established during the recent trend. A barrier breach could induce a larger retracement targeting the $1,250 zone as support. The ETH price would decline by 15% if the bears were to succeed.
XRP price finally takes off
XRP price continues to ascend as the bulls are up 3% on the daily, bringing the ongoing rally to a 29% increase in market value since January 1. On January 11, the largest influx of volume this year accompanied the developing trend, as 1.6 billion transactions were accounted for on all exchanges during XRP's 7% uptick. The spike in volume is a positive affirmation to suggest bulls' enthusiasm and the beginning stages of a much larger bullrun.
XRP price currently auctions at $0.384. Unlike BTC and Ethereum, The Relative Strength Index has not yet broken out into overbought territory above 70 level on daily timeframe. Breaking out past 70 would be an ideal bullish signal to suggest that Ripple is unfolding a larger impulsive wave. Since it has not yet breached the barrier, the XRP price could be trading range bound, placing a cap above the current uptrend's potential.
Since the trend has gone vertical, much like ETH and BTC, the XRP could be lagging in terms of time instead of strength. Therefore the conservative bullish target at $0.44(mentioned in previous outlooks) still stands a fair chance of being tagged.
XRP/USDT 1-Day Chart
The earliest evidence of uptrend failure could be a breach of the recently crossed 8-day exponential moving average at $0.35. A tag of the low could induce a second attempt at the $0.30 low resulting in a 20% decrease from XRP's current market value.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
Recommended Content
Editors’ Picks

Dogecoin surges to $0.20 as meme coins outperform broader crypto market
Dogecoin (DOGE) is rising alongside other major cryptocurrencies to trade at around $0.1990 on Friday. Interest in the largest meme coin is at an elevated level, approaching the highs seen in May, when DOGE rallied to $0.2597.

Crypto Today: Bitcoin explodes toward $120,000, igniting interest in Ethereum and XRP
The cryptocurrency market is beaming with anticipation of an extended rally, particularly in the price of Bitcoin (BTC), which has skyrocketed this week, hitting a new historical high of $118,870 on Friday.

Bitcoin Weekly Forecast: BTC hits new all-time high and enters price discovery mode
Bitcoin price prints a fresh all-time high near $118,900 on Friday, with bulls eyeing $120,000 as the next key milestone. Corporate and institutional demand remains robust, with spot Bitcoin ETFs recording a total of $1.69 billion this week as of Thursday.

Ethena records double-digit gains amid Upbit listing, Coinbase partnership
Ethena (ENA) edges higher by 20% at press time on Friday, printing its fourth consecutive bullish day. The surge in buying pressure could be triggered by the increased volumes from the Korean market after the Upbit listing on Friday.

Bitcoin: BTC hits new all-time high and enters price discovery mode
Bitcoin (BTC) price prints a new all-time high near $118,900 on Friday, entering uncharted territory as bullish momentum accelerates.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.