The cryptocurrency sector has revived, with XRP at the forefront as its price hit a 7-year high.
XRP's Rise Amid Market Revival
In the last 24 hours, the global market capitalization of cryptocurrencies surged past $3.5 trillion. Ripple’s XRP saw a significant price increase, almost reaching $2.90, marking a 14% rise compared to the previous day.
Optimism for XRP in Banking Sector
According to Santiment, on January 14, XRP became the most discussed cryptocurrency. The factors behind this include optimism over its potential banking transaction usage, positive growth forecasts, and ETF speculations. Ethereum also gained attention due to the development of Soneium, an Ethereum layer-2 solution by Sony.
Projected Growth and Expert Opinions
Numerous analysts believe XRP could soon become a price leader. Some expect the asset to reach $4 and then $8. Veteran trader Peter Brandt predicted that XRP's market cap could exceed $500 billion, resulting in a price increase to nearly $9.50.
With XRP's price surge, public focus is on its potential use in banking and ongoing growth. Amid optimism and renewed interest in cryptocurrencies, XRP might soon achieve new heights.