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XRP Hits Record $3.66: What’s Driving the Further Rise?

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by Giorgi Kostiuk

4 hours ago

XRP, the third-largest cryptocurrency, has reached a new all-time high. Let’s explore the reasons for this rise and traders’ expectations.

Record Price of XRP

XRP set a new all-time high at $3.66 after its price dipped to $1.9 on June 22. This rise occurred in the context of an improving market situation.

Reasons for XRP's Rise

The increase in interest for XRP is linked to the passage of three laws regulating cryptocurrencies, including the CLARITY and GENIUS Acts. Additionally, ProShares filed for the first XRP futures ETF, and 11 other asset managers introduced their products based on XRP's price movement. Traders are pricing in an 88% chance of spot XRP ETF approval by December 2025.

Prospects and Expectations

Analysts note a solid technical structure for XRP's price and expect growth above $4. Currently, XRP's price is $3.45, up 0.25% in the last 24 hours. The current structure may signal a 'bull flag,' where the price consolidates before rising again. The key support level is $3.34.

XRP's rise has been driven by positive news and trader expectations. If the current trend continues, XRP may surpass the $4 mark.

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