Bitcoin’s calmness over the weekend continues as the asset has failed to make a major move from its tight range between $94,000 and $95,000.

In contrast, several altcoins, such as XRP, ADA, and XLM, have posted significant gains over the weekend, while SUI has plunged hard.

ADA, XLM, XRP on the Rise

As reported on Saturday evening, Ripple’s cross-border token stole the show with a massive surge from $2.33 to $2.5. The asset kept climbing in the following hours and tapped a multi-week peak of $2.6 before correcting slightly to $2.52 now.

Cardano’s native token is the other massive gainer from the larger-cap alts. ADA has soared by nearly 9% over the past day and now sits at the coveted resistance level of $1. XLM has also gone on a tear, surging by more than 7% and now trading close to $0.45.

In contrast, SUI has dumped by over 3% to $4.82, while TRX, SHIB, and BNB are also slightly in the red. On the other hand, ETH, SOL, DOGE, AVAX, TON, LINK, HBAR, and DOT have marked minor gains over the past 24 hours.

The cumulative market capitalization of all crypto assets has remained at essentially the same spot as yesterday at just shy of $3.450 trillion on CG.

BTC Calms at $94K

The primary cryptocurrency had a highly eventful and volatile trading week in which it soared past $102,000 on Tuesday, only to crash by more than ten grand in the next 48 hours. This multi-week low took place on Thursday as BTC came close to breaking below $91,000 and even $90,000.

More volatility ensued in the following hours, with a jump toward $96,000 and a rejection that pushed it back to almost $92,000.

However, the bulls managed to defend the latter and pushed BTC to $94,000 where it has spent most of the weekend, aside from a brief spike to $95,000.

As such, bitcoin’s market cap remains at $1.865 trillion on CG, but its dominance over the alts is down to 54.2%.

TL:DR;

• XRP’s price went on an unexpected run on Saturday night, surging to a multi-week peak of $2.6 before correcting slightly.
• However, some on-chain metrics suggest that the asset could face trouble in the following days, especially if it fails to close above $2.47.

As reported on Saturday evening, XRP’s rally drove the asset from $2.33 to $2.5 and later to $2.6, which represented an 11.5% surge within less than 24 hours. Although the asset has lost some steam since then and currently sits at $2.51, it’s still over 6% up on the day.

This came shortly after reports emerged that whales had amassed more than a billion XRP tokens within a mere 48-hour period during the most recent correction in the middle of the business week.

However, this is where the popular crypto analyst Ali Martinez sounded the alarm about a potential drawback for XRP’s price.

At first, he pointed out that the TD Sequential, a technical indicator used to show the market exhaustion in either direction, had flashed a sell signal on the 4-hour chart. Nevertheless, this bearish formation will be invalidated if the asset closes above that line, which it still maintains.

The TD Sequential presents a sell signal on the $XRP 4-hour chart, anticipating a brief correction. The bearish formation will be invalidated if #XRP closes above $2.47! pic.twitter.com/CrW303RTaT

— Ali (@ali_charts) January 11, 2025

Additionally, Martinez highlighted a growing number of short positions opened when XRP peaked at $2.6. Recall that Ripple’s cross-border token was among the few with notable gains on Saturday evening while the rest of the market stood silently.

Many traders might have anticipated a short-term correction due to XRP’s divergence from the pack, which indeed occurred to the current levels. The question now remains whether the cryptocurrency will remain above the aforementioned support or that was just the start of a broader correction.

A lot of $XRP shorts were opened at $2.60, creating a substantial liquidation zone that market makers may try to grab. pic.twitter.com/cPIPwSjLEI

— Ali (@ali_charts) January 12, 2025

Ripple displayed low market activity, as reflected in its subdued price action for a while before a sudden surge to $2.6 yesterday.

The price remains confined within a sideways wedge pattern, highlighting a phase of consolidation and indecision. A decisive breakout is necessary to establish a sustained market direction.

XRP Analysis

By Shayan

The Daily Chart

Ripple’s current low volatility signals a lack of trading interest, potentially linked to broader macroeconomic factors, such as uncertainty surrounding President Trump’s transition to the White House. XRP’s price remains trapped within a wedge pattern and oscillates in the $2-$3 range even though it jumped to $2.6 yesterday evening.

A breakout from this range is crucial, as it will likely dictate Ripple’s long-term trend. A bullish breakout could trigger a rally, while a bearish breakout may result in significant declines.

The 4-Hour Chart

On the 4-hour timeframe, Ripple found support at the 0.5 Fibonacci level ($2), prompting a minor upward move. However, the price has now entered a low volatility phase with no clear directional bias.

Ripple faces significant support near the 0.5 ($2) and 0.618 Fibonacci levels, which have served as strong defenses for buyers in recent months. If buyers manage to defend this region, XRP may experience a bullish spike. However, if sellers push the price below this key support zone, the market could face long liquidations, leading to a substantial decline.