This article examines the current situation in the cryptocurrency market, the price dynamics of Bitcoin and XRP, and the factors contributing to their growth.
XRP Price Target
At the time of writing, XRP was hovering around $2.73. Analyst DonAlt suggests that XRP could reach $6.9 if Bitcoin continues to show stability. According to his estimates, XRP is currently on the rise with a 10% increase and is expected to receive ETF approval in the next two months. He also noted a resistance level at $2.68, the breaking of which initiated the upward trend.
Main Reasons for Bitcoin's Growth
Over the past months, positive news about the cryptocurrency market has accumulated despite uncertainties in tariffs. Benefits associated with cryptocurrency supporting policy under Trump, regulations, and public companies accumulating Bitcoin have contributed to market development. Bradley Duke stated that the main driver of price increase was overwhelming demand, which now significantly exceeds supply.
Impact of Demand and Supply on the Market
Bitcoin reserves on exchanges continue to hit new lows, while public companies like MSTR are spending billions on new BTC acquisitions, aiming to support their share prices. Duke added that structural imbalance caused by excessive demand and limited supply has become the main reason for the sharp price increase of Bitcoin.
With the ongoing stable growth of Bitcoin and the anticipated price increases for XRP, experts emphasize the importance of analyzing demand and supply in the cryptocurrency market. Positive news and investments from public companies also play a critical role in shaping current trends.
