XRP Breaks into Price Discovery Against the Korean Won

XRP recently broke into price discovery against the Korean Won, signaling a potential continuation of larger uptrends.

Current Market Situation

XRP’s price faces bearish pressures amidst broader crypto market turbulence. Despite these challenges, the altcoin has shown notable resilience, as emphasized by Bollinger Bands founder, John Bollinger.

As of now, XRP remains up 8.73% this month and has seen a 12.16% increase this year. In contrast, other altcoins have faced declines, with Ethereum (ETH) falling 15.21% this month and down 43% year-to-date.

Recent Market Trends

The current market downturn follows a prior uptrend where multiple assets reached new highs from November 2024 to January 2025. XRP was one of the key beneficiaries of this momentum, with recent findings revealing that its price explosion was largely understated.

XRP’s Achievements Against KRW

In January 2025, XRP reached a remarkable price of 4,987 KRW, marking a new all-time high. This surpassed its previous high of 4,750 KRW set in January 2018. The journey to 4,987 KRW suggests that XRP entered a price discovery phase, backed by a significant symmetrical triangle breakout on the monthly chart.

The upper trendline of this triangle formed as XRP declined from its 2018 ATH, persisting nearly seven years. The lower trendline began in March 2020 as XRP maintained higher lows. The asset broke above the upper trendline during the November 2024 surge, rallying over 280%. After a brief three-week pullback, XRP rebounded, leading to the 4,987 KRW ATH in late January 2025.

Future Outlook

Assets in a price discovery phase often experience a “free run” to higher levels, as past resistance levels lose significance. This potential suggests XRP could achieve new heights after recovering the 4,987 KRW peak once the current pullback concludes. Bollinger believes XRP could lead the overall market recovery.

Notably, analyst Zach Rector had predicted last October that XRP’s suppression era was ending, allowing it to “run free,” which was followed by a 280% spike. Despite recent gains, he maintains that XRP is still “incredibly undervalued.” He has set ambitious targets, claiming that ETF inflows could drive XRP up to $33. Other analysts, like Ralston Maximus, have suggested that a price range of $30 to $35 for XRP is plausible. Currently, XRP is trading at $2.33 and 3,421 KRW.