The XRP coin has started the month of January 2026 on a positive note, as it has increased by over 18% in the previous week and breached the level of $2.14. The move has drawn renewed attention from crypto investors as the token posts five straight green sessions, signaling short-term strength after months of pressure.
Currently, XRP is trading close to $2.14, having breached a bearish channel that limited its rise since the end of 2025. From a technical perspective, XRP is headed for its immediate major resistance at $2.35, corresponding with the 200-day exponential moving average. On the other hand, the $2.00 region continues to be one of its major supports, having been tested on numerous occasions in the recent past.
XRP Gaining Ground Against Bitcoin Slowly
It appears that XRP is gaining popularity even in its pair with Bitcoin. According to Dark Defender’s post, XRP has actually been performing in a superior manner compared to Bitcoin ever since the start of the year 2024. As an indicator of its performance in the pair XRP/BTC for the previous six months, the chart highlights a significant shift in momentum.
Analysts also suggested that 2026 could mark a major growth phase for XRP relative to Bitcoin. As the value of XRP in relation to Bitcoin rises, it could be noticed that it acts as a signal pointing towards the possibility of accumulation. If this trend continues, it could support further upside for token in the months ahead.
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Fibonacci Targets Suggest Possible $2.47 Move
The recent push higher was supported by a lower blue support line and a green rising channel. The price is currently nearing the top boundary of the green channel, which could serve as a pivot. From an Elliott Wave perspective, token is currently in the process of forming major wave 2 of a larger bearish pattern. Wave 2s tend to be deep, and this is why the current upswing appears more credible than others in other altcoins.
Using the Fibonacci levels, the second wave could stretch towards the 0.786 retracement level, reaching the target area where the last corrective wave C is located along the Fib 3. This would place token around $2.47, directly into the upper blue resistance zone. A rejection from that area could trigger a sharp move lower.
If that happens, analysts expect token to enter an aggressive wave 3 to the downside, followed by waves 4 and 5. Under this scenario, the broader move could eventually drive token toward the $0.65 region.
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