Notable cryptocurrency firm Galaxy Digital shares its opinion on Dogecoin price and market cap expectations for the year 2025.

The cryptocurrency market recorded significant milestones last year. Some of them include a new high for Bitcoin, the maiden launch of the US Bitcoin spot exchange-traded funds (ETFs), and the election of the first openly pro-crypto US president in history.

Meanwhile, a new year is upon us, and with it comes fresh price outlooks. Galaxy Digital, one of the biggest crypto firms, has predicted what price the Shiba Inu-themed meme coin Dogecoin will attain before the end of 2025.

Galaxy Research Provides Dogecoin Outlook

Alex Thorn, the head of research at Galaxy Digital, has asserted that Dogecoin, the largest meme coin by market cap, will finally reach a $100 billion market cap. Notably, this valuation is unprecedented for the meme coin, whose market cap peaked at $98.47 billion in 2021.

For context, the $100 billion valuation will bring Dogecoin’s price to $0.678, 8% below its current all-time high of $0.739. Also, Dogecoin would surge an impressive 87% from the present market price to hit $0.678. 

Meanwhile, Galaxy Research does not expect Dogecoin to peak there. Per its analysis, the meme coin will surpass its current ATH this year and finally attain a one-dollar valuation.

A surge to $1 will ensure Dogecoin’s market cap trades at $147.47 billion, an impressive 176% from the current valuation. Its price would also see a similar uptick to reach $1.

Notably, Galaxy Research also provided price expectations for other cryptocurrencies. The firm asserted that Bitcoin will hit $185,000 and Ethereum $5,550 by the end of the year.

Conservative or Ambitious?

Galaxy Digital’s Dogecoin prediction followed speculations from other analysts. Notably, the firm’s call seems conservative compared to existing predictions of the meme coin leader’s upsurge potential this year.

For context, Ali Martinez has insisted that Dogecoin will target ranges between $4 and $23, citing multiple price catalysts. Some of them include an upsurge to the tip of its ascending channel and a possible repeat of its 2021 bull cycle feat.

Furthermore, an analysis from Tradigrade has shown that Dogecoin will hit $11. The market speculator based his assertion on a possible breakout from the Gaussian channel.

In the meantime, Dogecoin trades at $0.361, up over 6% in the past 24 hours.

Market veteran Ali Martinez believes Cardano price is on track to double its all-time high this cycle as ADA follows the 2021 trajectory.

The analyst disclosed this amid Cardano’s (ADA) impressive rebound above $1 in the new year. Cardano, which began the year at $0.8450, has so far witnessed two consecutive bullish days, with the latest 10.36% gain this morning allowing it to cross $1 for the first time in over two weeks.

Amid this recovery push, Ali Martinez disclosed in a recent analysis that Cardano is now following a path similar to its trajectory in the 2020/2021 market cycle. He shared a 4-day ADA chart to corroborate this claim.

ADA’s Historical Data

Data from the chart indicates that Cardano experienced a price crash from a top of $0.3885 in April 2018, entering a major downtrend and consolidation channel from November of that year. This bearish consolidation persisted for 670 days, further exacerbated by the COVID-19 crash to $0.0177 in March 2020.

However, ADA eventually broke out from the channel in May 2020 and then slipped into an uptrend from November 2020 that lasted until August 2021, culminating in the $3.1 all-time high. During the period of this uptrend, Cardano spiked 4,095%. 

Nonetheless, following the Terra and FTX implosions in 2022, Cardano collapsed with the rest of the market. The asset entered into another extensive bearish consolidation channel for 457 days, until its breakout from the channel during the start of the ongoing bull run in Q4 2023.

Cardano Enters Similar Uptrend

Despite this, Cardano did not enter into this cycle’s uptrend until early November, after the Donald Trump victory in the U.S. presidential election. ADA is now up 217% since it started the uptrend, but Martinez believes the rally is just beginning.

Just in 2020/2021, the analyst expects Cardano to sustain this upsurge for an extended period, setting a target of $4 over the next few weeks. However, data from his chart shows that he sees further upside to the $6.4 level as the ultimate target, culminating in a 2,210% increase from recent lows.

At press time, Cardano now trades for $1.06, having increased by over 10% today alone. With an 11.13% spike in the last 24 hours, ADA is now the second-largest gainer among the top 100 assets in the past 24 hours. The asset aims to solidify its hold above $1, potentially leveraging it for further upsurge.

My name is Florian, and I have a deep passion for forex, cryptocurrencies, and trading as a whole. I feel lucky, that I am able combine my skills with what I love. I’m very interested in factors driving price movements and enjoy uncovering the reasons behind them. My primary interests include Bitcoin, Altcoins, macroeconomics, and all related to trading.

2024 saw Cardano (ADA) position itself to follow Ripple (XRP) in a rally towards the coveted $2 milestone. Both have shown resilience, though Ripple has excelled far beyond Cardano. However, the stage is now set for a potentially explosive 2025. 

Meanwhile, has taken the spotlight at the intersection of iGaming and DeFi, drawing investors in droves for its modern approach to GambleFi, and the powerful native token that sits at its center. So why is this new project seeing so much attention, and how will Cardano, Ripple, and Rollblock fare going into 2025? 

2024 was a blistering year for Dogecoin, and many holders will be wondering what the future holds. Analysts are divided over whether Dogecoin will reach $20, while huge numbers of investors are choosing instead to buy an allocation to the small-cap GambleFi gem Rollblock ($RBLK), which is being tipped for a pump of up to 5000% in the coming months.

Rollblock ($RBLK): A Dead Cert For Head-Spinning Growth This Year

Rollblock ($RBLK) is an innovative GambleFi protocol that looks to disrupt the casino industry. The project has had an incredible run over the past few months, pulling in more than $8 million into its early-stage ICO.

In the last few weeks, Rollblock has rolled out a hugely successful sports betting feature that has seen deposits and sign-ups grow by more than 600%. December also saw more than $1.75 million in wagered bets across the platform, as gamers see the huge potential in the Rollblock offering of over 7,000 casino classics on the site.

Rollblock ensures that there can be no manipulation whatsoever on its platform thanks to its practice of securing all bets anonymously onto the Ethereum blockchain. It has also recently been awarded a license from the team at gaming Anjouan, which further underlines the huge commitment to trust and transparency that Rollblock takes very seriously.

Holders of $RBLK will likely never sell their tokens thanks to the revenue-sharing scheme that allows them to generate a passive income. Regular $RBLK buybacks from the casino will result in 60% of these tokens being burned forever from the supply, while 40% find their way back to earn a generous yield on their holdings.

A supply squeeze is surely coming for 2025 that will see Rollblock rally up to 5000%, causing $RBLK to fly up the crypto rankings into the top 200. Rollblock can be purchased exclusively at the presale discount of $0.0445 while stage 9 tokens remain for sale.

Are New Highs Inevitable For Dogecoin ($DOGE)?

Dogecoin has been trading in a volatile fashion lately, down by 19% over the past month to hit $0.34. This dip for Dogecoin has come after a phenomenal rally that saw the Dogecoin price increase by over 224% in the last 6 months.

Much of this price action was driven by Elon Musk and his formation of the Department of Government Efficiency. Musk will be working closely with incoming President Donald Trump, which will likely keep Dogecoin in the spotlight during 2025. Musk has also hinted that he will incorporate Dogecoin into his proposed X payments system at some point in the future, which would no doubt rocket the Dogecoin price beyond $1.

Dogecoin could even hit such dizzying heights as $20 during 2025. Once Dogecoin reclaims its all-time high of $0.73, then its price will likely reach escape velocity and run over $1. A new all-time high for Dogecoin is only a 53% move away and looks increasingly likely at this point.

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GambleFi Startup Will Lead The Way With Community Backing

Although Dogecoin will likely enjoy a strong 2025, Rollblock ($RBLK) is set to return even better multiples thanks to its fervent community backing and significantly smaller market cap. An opportunity like Rollblock doesn’t come along very often in crypto and could well secure generational wealth for holders this year.

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Ripple’s XRP is currently up by more than seven percent and is trading at $2.42. The XRP price has been consolidating above the $1.96 mark, a key resistance level from 2021. This price point formed in April and May 2021, and it was recently broken in early December 2024. Since then, XRP has remained above this level, showing strength and stability. This is a positive sign for XRP holders, as it means a market shift from the volatility seen in previous years when prices often broke above resistance levels, only to fall quickly afterward.

Potential for Another High in XRP’s Price

Looking ahead, there is a potential for XRP to form another high. This could be the fifth wave in an Elliott Wave pattern, hinting at a possible continuation of the bullish trend. While it’s not guaranteed, the expectation is for at least one more high in this cycle.

Triangle Pattern Forming on Smaller Timeframe

On the smaller time frame, XRP appears to be forming a triangle pattern. Triangles typically evolve into ABCDE structures, with each wave in the triangle representing higher lows and lower highs. If this pattern holds, XRP could see another high before completing the triangle. 

Key Support and Resistance Levels

For continued bullish momentum, XRP must maintain its position above the 20th December low, around $0.96. A break below this support level could signal a bearish trend, but the larger bullish thesis would remain intact.

On the micro scale, XRP might experience one more push upwards, potentially touching new resistance levels. The immediate target areas to watch are between $2.42 and $2.45, followed by higher resistance at $2.54, $2.61, and $2.62. Should XRP break below the $2.22 level, it could signal a shift towards lower levels.

Dogecoin (DOGE) price has risen 7% in the last 24 hours, as it tries to regain its $50 billion market cap. Trading volume has surged to $3 billion during this period.

Key technical indicators, such as the Ichimoku Cloud, signal strong upward momentum. If the current trend continues, DOGE could break through key resistance levels and achieve significant short-term gains.

DOGE Ichimoku Cloud Shows a Bullish Setup

The Ichimoku Cloud chart for Dogecoin reveals a bullish setup. The price broke above the red cloud, indicating a shift in momentum, as buyers have gained control, pushing the price higher.

The red cloud, formed by Senkou Span A and Senkou Span B, previously reflected bearish sentiment, but DOGE move above it suggests a change in sentiment. The current green cloud ahead further supports this bullish outlook, as it signals potential continuation of upward momentum.

Additionally, the blue Tenkan-sen (conversion line) has crossed above the orange Kijun-sen (baseline), further confirming the bullish trend. This crossover highlights short-term price strength exceeding the longer-term baseline. The green lagging span (Chikou Span) is also positioned above the price and the cloud, signaling that the current bullish trend is consistent with prior price movements.

For DOGE price to maintain its upward trajectory, it must hold above the cloud and build on this momentum. However, any failure to sustain these levels could lead to consolidation or a retracement back into the cloud.

Dogecoin DMI Indicates Potential for a Stronger Uptrend

Dogecoin DMI chart shows its ADX currently at 21.5, which is up significantly from 11.9 just yesterday, indicating a strengthening trend. The rise in ADX suggests that the uptrend is gaining momentum, reflecting growing market confidence and increased buying activity.

The +DI (Directional Indicator) has surged to 34.6 from 15 over the past two days, signaling strong buying pressure, while the -DI has dropped to 11.1 from 20, reflecting a significant reduction in selling pressure. This divergence between the +DI and -DI reinforces the dominance of bullish momentum in the market.

The Average Directional Index (ADX) measures trend strength on a scale from 0 to 100, with values above 25 indicating a strong trend and readings below 20 suggesting weak or absent trend strength. DOGE’s ADX at 21.5 shows that the trend is on the verge of becoming firmly established, especially given the sharp rise in +DI and the decline in -DI.

In the short term, this setup suggests that DOGE price is likely to continue its upward trajectory as buyers are in control. However, for the trend to sustain, the ADX must continue rising and hold above 25 to confirm a strong uptrend.

DOGE Price Prediction: Will It Rise 22% Soon?

Dogecoin price EMA lines suggest that a Golden Cross may form soon, a bullish indicator where the short-term EMA crosses above the long-term EMA. This potential crossover could signal a continuation of the uptrend, allowing DOGE to test the resistance at $0.36.

If this level is broken, DOGE price could aim for higher resistance levels at $0.387 and $0.415, representing a potential 22.7% price increase.

On the other hand, if the uptrend loses momentum and the market reverses, DOGE price could test its immediate support at $0.30. A failure to hold this level may lead to a sharper decline, with the next strong support at $0.26 coming into play.

For DOGE to maintain its upward trajectory, the Golden Cross would need to materialize, and buyers would need to drive the price through critical resistance levels.

You Cannot Beat A Good Meme

The DOGE Shiba Inu, Source: Dogecoin.com 

Dogecoin started as a playful jab at Bitcoin, a satirical take on the growing cryptocurrency hype. It drew its name and identity from the iconic Doge meme, which features a Shiba Inu, a Japanese dog breed, known for its quirky expressions. What began as a lighthearted experiment quickly became one of crypto’s most unexpected success stories. This article explores some of the history of Dogecoin, its increasing relevance as the meme coin narrative grows, the enduring support of Elon Musk, why financial nihilism is good for Doge, and why a 2025 Dogecoin prediction of $1 (One dollar) is conservative. Woof.

The Shiba Inu Mascot with Staying Power

Despite its humorous origin, Dogecoin has proven to be far more than a fleeting internet joke. Its charm lies in its whimsy and accessibility, attracting a devoted following. Communities on Reddit and Twitter played a pivotal role in its rise, fostering a culture of humor, generosity, and shared enthusiasm. This vibrant fanbase turned Dogecoin into a cultural touchstone, propelling it beyond its satirical beginnings.

As one of the oldest altcoins—predating even Ethereum—Dogecoin has defied expectations, outlasting many projects that promised serious innovation. It carved out a unique identity as the internet’s favorite meme currency, proudly embracing its irreverent origins.

The Egalitarian Crypto

Dogecoin’s appeal also stems from its simplicity and egalitarian ethos. Unlike many cryptocurrencies backed by presales, venture capital, or corporate interests, Dogecoin launched without insider advantages or elaborate marketing campaigns. Its value isn’t tied to lofty promises of disrupting industries but rather to the shared humor and culture it represents.

For many, Dogecoin isn’t just an asset; it’s a statement. It symbolizes the power of community and memes to break through traditional barriers and even influence mainstream culture. As Elon Musk and other high-profile figures toy with its potential, Dogecoin continues to showcase the unlikely influence of internet culture in shaping the financial world.

Dogecoin Price Prediction 2025

An anonymous crypto analyst, known as CEO, shared with his 536,000 followers on X that Dogecoin could be gearing up for a significant rally in 2025. Using a weekly chart, the investor highlighted a pattern of sweeping previous resistance and support levels—a move that mirrored Dogecoin’s behavior during the last bull run.

According to CEO, this pattern has repeated throughout 2024, positioning Dogecoin in the final phase before a potential breakout rally.

Source: X

Echoing this sentiment, technical analyst Chandler Bing projected that Dogecoin’s long-term price range could land between $2.35 and $2.60—a staggering 683% increase from its current value. While this target might seem ambitious, Bing described it as a “conservative estimate,” citing historical patterns and market dynamics to support his forecast.

Source: X

What’s driving this bullish momentum? There are many factors. The most important reasons that prediction that the Dogecoin price will hit $1 and beyond in 2025 are – the wider crypto market experiencing a bull run due to the Trump Pump, Elon Musk’s support, the ongoing meme coin phenomenon, and financial nihilism, which drives value to speculate assets such as dogecoin. 

Travis Kling, has explored the concept of financial nihilism to explain the cultural and economic underpinnings that drive the popularity of assets like Dogecoin. Here’s a breakdown of the idea and why it underpins Dogecoin’s path to $1 in 2025.

What is Financial Nihilism?

Financial nihilism is the belief that traditional financial systems, institutions, and even investment fundamentals no longer matter in an era where speculative assets and memes can drive massive value. This mindset thrives in a landscape shaped by:

1. Distrust in Traditional Systems: After decades of financial crises, monetary policy experiments like quantitative easing, and growing inequality, many people feel alienated from traditional finance.
2. Rise of Internet Culture: Meme-driven internet communities and social media have created new forms of value, where humor, shared culture, and collective action can outperform traditional investment logic.
3. Low Barrier to Entry: Platforms like Robinhood and the accessibility of cryptocurrencies enable retail investors to participate in markets with little understanding of fundamentals, focusing instead on narratives and hype.

How Dogecoin Embodies Financial Nihilism

Dogecoin is the poster child for financial nihilism. Initially created as a joke, it has defied traditional expectations by becoming a serious contender in the crypto market. Here’s why it resonates:

• Cultural Appeal: Dogecoin’s roots in meme culture make it relatable and engaging for millions who view it as a symbol of rebellion against Wall Street norms.
• Community Power: Dogecoin’s value is propelled not by its technical innovation but by its loyal and enthusiastic community.
• Irreverence as Strength: Its satirical nature aligns perfectly with the nihilistic view that investment doesn’t need to be serious or tied to traditional value creation.

Why Dogecoin Could Hit $1 by 2025

1. The Power of Memes: As financial nihilism grows, Dogecoin’s status as the ultimate meme asset makes it a strong candidate for speculative investment. Social media campaigns, celebrity endorsements (e.g., Elon Musk), and viral trends could push its price.
2. A New Bull Market: If a bull market emerges in 2025, Dogecoin could capitalize on the influx of retail investors looking for “fun” and accessible entry points into crypto.
3. Mass Adoption & Visibility: With Dogecoin integrated into tipping platforms, payment systems, and pop culture references, its visibility has grown immensely. This broad exposure could drive significant demand.
4. Speculation and Community Action: During speculative bull runs, collective community actions like coordinated buying can drive Dogecoin’s price to psychological milestones, such as $1.

Kling’s financial nihilism thesis underscores how assets like Dogecoin thrive not despite their irreverent nature but because of it. In a world where traditional systems are questioned and value creation is democratized through internet culture, Dogecoin represents the ultimate “why not?” investment. This ethos, combined with market dynamics, could very well propel Doge to $1 in 2025. In fact Dogecoin could easily hit 1 dollar, and then go beyond to new heights as market euphoria takes hold.

Meme Coins Dominated a Third of Investor Focus in 2024

A report analyzing market trends from January 1 to December 21, 2024, highlights the meteoric rise of meme coins in capturing investor attention. The “main meme coin narrative” alone now represents 15% of the overall market—a significant jump from the prior year—indicating a growing appetite for these unpredictable and highly speculative tokens.

Leading the charge were Dogecoin (DOGE) and Shiba Inu (SHIB), with market capitalizations of $49.3 billion and $13.8 billion, respectively. Together, these meme-driven assets have propelled the collective market cap of the meme coin sector to a staggering $113 billion. This surge underscores the enduring appeal of humor, community, and speculation in the evolving cryptocurrency landscape.

Source: Coingecko

In fact, as the Google Trends chart below shows, 2024 was a breakout year for Dogecoin, with worldwide Google search interest in Doge (green line) experiencing strong surges in February at the height of the first Memecoin mania, easily outpacing Pepecoin (blue), DogWifHat, (red) the other big memecoin story of 2024, and SHIB Inu coin, (yellow). In 2025, Dogecoin will continue to be the leading meme coin.

Source: Google Trends

The Elon Musk Connection

Elon Musk, long associated with DOGE, has re-entered the conversation. In November 2024, President-elect Donald Trump announced the formation of the Department of Government Efficiency (DOGE), appointing Elon Musk and entrepreneur Vivek Ramaswamy to lead this initiative. The primary objective of DOGE is to streamline federal operations by dismantling bureaucratic structures, reducing excessive regulations, and cutting wasteful expenditures.

The acronym DOGE is a nod to Dogecoin, a cryptocurrency that Musk has frequently endorsed. Following the announcement, Dogecoin’s value experienced a significant surge, rising nearly 20% and trading at approximately $0.42. This increase brought its market capitalization to nearly $60 billion, surpassing companies like Ford and Delta Air Lines.

Musk’s involvement in DOGE has further amplified interest in Dogecoin, with speculations about potential integration of the cryptocurrency into government efficiency measures. Analysts suggest that Musk’s influence and the symbolic connection between the department’s acronym and Dogecoin could drive the cryptocurrency’s value higher, potentially reaching $1 by 2025.

The establishment of the Department of Government Efficiency, led by Elon Musk and Vivek Ramaswamy, has not only set the stage for potential governmental reforms but has also invigorated the market performance of Dogecoin, highlighting the interplay between political initiatives and cryptocurrency valuations.

Source: X

Will Dogecoin 10x in 2025? The Case for the Meme Coin King

In 2025, crypto natives and new investors alike are wondering what is the best crypto to buy right now for the best returns. They’re looking at XRP, Pepe Coin, Shiba Inu coin, and the smart one ones will allocate to Bitcoin. The smartest investors of all, however, know that  Dogecoin, the undisputed leader of meme coins, holds a unique position in the cryptocurrency market that signals explosive potential. 

With growing acceptance in mainstream commerce, endorsements from high-profile figures like Elon Musk, and cultural relevance that rivals traditional brands, Dogecoin is well-positioned for significant growth. Coupled with a potentially more crypto-friendly regulatory environment under Donald Trump’s presidency, the stage may be set for returns that could 10x by the end of 2025.

While newer meme coins might offer flashy short-term gains, Dogecoin’s established status sets it apart. Boasting a massive market cap and a history of resilience, Doge has proven its staying power. Its all-time high of $0.7316 in 2021 remains a testament to its market potential, but the community’s focus is now squarely on an even bigger milestone: $1. 

For Dogecoin enthusiasts, this isn’t just a Doge coin price prediction—it’s a prophecy. Popular analysts like Angelo on X suggest that this price level is achievable within the current cycle, particularly if Bitcoin experiences a bullish Q4. Historically, Bitcoin rallies have often lifted meme coins like Doge, amplifying their speculative appeal.

Source: X

Dogecoin is more than a cryptocurrency; it’s a cultural icon. As the largest and most recognizable meme coin, Dogecoin enjoys unparalleled global brand recognition. Its playful connection to Elon Musk, who frequently tweets about Doge, has cemented its status as the “Bitcoin of meme coins.” This ongoing support from one of the world’s most influential figures has created a unique blend of humor and speculation that continues to captivate investors and meme enthusiasts alike.

The journey to $1 has become a rallying cry for the Dogecoin community, representing a symbolic goal that feels increasingly within reach. Whether the milestone is hit by the end of 2024 or in early 2025, the momentum behind Doge suggests the prophecy is closer than ever to being fulfilled. Its combination of proven market resilience, a dedicated community, and mainstream cultural relevance makes the $1 target seem not just possible, but inevitable.

Dogecoin’s charm lies in its ability to balance humor with utility and community engagement. With its track record of resilience, high-profile endorsements, and a market that rewards cultural relevance, Dogecoin is thriving as the ultimate meme coin. The prophecy of Doge reaching $1 is no longer just a joke—it’s a real possibility. Will Dogecoin make it? The answer may be just around the corner. Much wow. Woof.

• XRP long-term holders soaked up short-term holders’ recent profit-taking as they resumed accumulation.
• Buyers across top exchanges have dominated sellers since the beginning of 2025.
• XRP could test the $2.9 resistance after breaking out of a key symmetrical triangle pattern.

Ripple’s XRP is up 7% on Thursday, extending its rally that began during the New Year’s Day celebration. If long-term holders (LTH) continue their recent accumulation, XRP could overcome the $2.9 resistance level and aim for a new all-time high.

XRP on-chain activity shows long-term holders and buying pressure dominance

Following a 12% jump in XRP’s price on Wednesday, investors booked over $1 billion, the highest realized profits since December 16.

XRP Network Realized Profit/Loss. Source: Santiment

The profit-taking was mainly from investors that have held XRP in the past 90 days, as indicated by a spike in the Dormant Circulation (90d) metric. However, long-term holders have adopted a somewhat opposite attitude, accumulating the sell-pressure from these short-term holders as reflected by an increase in the Mean Coin Age metric.

The Mean Coin Age metric measures the average amount of time all XRP tokens have stayed in their current address. As seen in the chart below, an increase indicates accumulation is dominant over distribution.

XRP Dormant Circulation and Mean Coin Age. Source: Santiment

XRP’s net flow and volume across top crypto exchanges in the past 24 hours show a similar trend, with Binance, OKX, Bitstamp and Bybit all showing net outflows. The only net inflow was recorded in Coinbase. Exchange net outflows indicate buying pressure is dominant and vice versa for net inflows.

XRP 24-hour Volume and Net Flow. Source: Coinglass

Meanwhile, with pro-crypto Paul Atkins potentially assuming the role of the United States Securities and Exchange Commission (SEC) Chair on January 20, it’s unlikely the agency will pursue its appeal against Judge Analisa Torres’s ruling in its case against Ripple. The SEC faces a January 15 deadline to file the opening brief for its appeal.

XRP eyes $2.9 resistance following move above key symmetrical triangle

XRP has sustained over $11.03 million in liquidations in the past 24 hours, per Coinglass data. The total amount of liquidated long positions reached $2.72 million, while short liquidations accounted for $8.31 million.

XRP broke above a symmetrical triangle pattern on Thursday, extending its New Year’s Day rally. With the breakout, XRP could rally toward the resistance level at $2.9. The move could be strengthened if XRP sees a slight downturn and bounces off the triangle’s upper boundary line.

XRP/USDT daily chart

The Relative Strength Index (RSI) is above its neutral level, indicating dominant bullish momentum. Meanwhile, the Stochastic Oscillator (Stoch) is in its oversold region, signaling a potential correction could be imminent.

A daily candlestick close below the triangle’s lower boundary line and the 50-day Simple Moving Average (SMA) would invalidate the thesis and send XRP toward the $1.35 level.

Since August, SOL has faced consistent selling pressure whenever it approached the $160 threshold. Its ability to break and hold above the $200 mark has been seen as critical to its recovery trajectory.

Analysts previously projected that overcoming these key resistance levels could propel SOL toward retesting its all-time high in the $250-$265 range.

Ethereum versus Solana

In a post on X, Glassnode, a prominent on-chain analytics platform, highlighted a notable performance shift between Ethereum and Solana during Q4, 2024. Solana outpaced both Ethereum and Bitcoin in price performance for much of the quarter.

This outperformance may have been fueled by heightened investor interest and momentum within the Solana meme coin community. Additionally, Solana experienced a faster expansion in its realized cap compared to Bitcoin and Ethereum. By early December, SOL demonstrated a robust weekly capital inflow of over 5%.

Prospects of Solana ETF

A growing number of firms, including VanEck, Grayscale, 21Shares, Bitwise and Canary Capital, are actively pursuing approval for a Solana ETF. These spot Solana ETF applications are currently under review by the U.S. Securities and Exchange Commission (SEC), with preliminary decisions expected in late January 2025.

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Grayscale’s application faces a Jan. 23 deadline, while the other four applicants anticipate preliminary decisions by Jan. 25, marking 45 days since their applications were submitted for review in November 2024. Despite the strong demand for a Solana ETF, no approval has been granted so far, leaving 2024 without such a product.

Nate Geraci, president of the ETF Store, has expressed optimism about this timeline, aligning with broader market expectations. Many industry participants believe the potential change in U.S. administration and SEC leadership could create a more favorable regulatory environment for crypto ETFs.

Polymarkets suggests a 77% likelihood of a Solana ETF gaining approval in 2025, fueling optimism among crypto investors. Many believe the approval of a Solana ETF could act as a significant price catalyst, with some arguing that this potential has not yet been fully factored into the current market price.

Notably, the U.S. Securities and Exchange Commission (SEC) has yet to issue an official rejection for the 19b-4 applications submitted by prominent firms such as Bitwise, Canary Capital and 21Shares. With the tenure of the current SEC chairman nearing its conclusion, market participants are optimistic about the regulatory environment becoming more favorable.

How high can SOL price go in 2025?

In a recent analysis, crypto analyst Henrik Zeberg shared his optimistic outlook on Solana (SOL), the fifth-largest cryptocurrency by market capitalization.

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According to Zeberg, Solana remains in consolidation after reaching new all-time highs last month. This phase is normal around major market tops as the asset gathers momentum for its next upward move.

Zeberg indicated that this consolidation is a healthy and necessary process for Solana. It allows the cryptocurrency to build the strength needed to push higher. He believes that this period of consolidation is a precursor to Solana continuing its upward trajectory.

According to Glassnode, Solana investors are displaying strong conviction, with an increasing portion of long-term holders locking their wealth into the network. The 6-12 month cohort now controls 27% of the supply, signaling confidence from buyers during the 2024 rally and their expectation of higher prices in the future.

Solana’s breakout above $200 has set an optimistic tone for 2025, but challenges lie ahead as it approaches key resistance levels. The first significant resistance is at $219, aligning with the daily 50-day simple moving average (SMA), followed by $246 and the all-time high of $264, last reached Nov. 23, 2024.

In contrast, potential support levels include $175 and the daily 200-day SMA, which could serve as a stabilization zone if Solana experiences a pullback. While the surge indicates strong momentum, overcoming these critical resistance points will be crucial for Solana’s continued upward trajectory.

A report by VanEck released Sept. 25 forecasts that Solana could surge significantly in the future, potentially reaching $330. This outlook is based on Solana’s superior transaction speed and network efficiency compared to Ethereum. Last October, SOL’s price went from $38 to $59.

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Renowned trader Peter Brandt recently shared his perspective on Solana’s price dynamics, emphasizing the concept of equal price swings. Brandt explained that he uses swing targets as a tool to anticipate potential price moves in markets.

In his analysis, Brandt shared a Solana chart illustrating the symmetrical nature of its price swings. He set his next swing target for Solana at $274, suggesting a potential new all-time high if this level is reached.

This projection aligns with the broader bullish sentiment surrounding Solana, driven by increasing investor interest, strong network activity and potential catalysts like the anticipated Solana ETF approvals.