• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

XRP price hits $3 for the first time in 6 years due to big investors

user avatar

by Giorgi Kostiuk

3 months ago


XRP's price reached $3 for the first time in six years, driven by significant purchases by big investors and talks of potential ETF approval.

Role of big investors in XRP’s rise

One of the key factors behind XRP's price increase was the activity of large investors, known as 'whales'. They purchased significant volumes, ranging from 1 to 10 million XRP tokens, which has helped strengthen the cryptocurrency's market position.

Impact of potential ETF approval

Another driver for XRP's price increase is the discussion around potentially approving exchange-traded funds (ETFs) for XRP in the U.S. According to a recent JPMorgan report, such ETFs could attract $4 to $8 billion in new investments if approved. This has already created optimism among investors and positively affected the cryptocurrency’s value.

Technical analysis and forecasts

Chart analysis indicates that XRP has broken out of a 'bull flag' on the daily chart, suggesting further potential growth with a possible target of $4.16 by February 2025. On the weekly chart, XRP has formed a 'bull pennant', indicating continued growth. However, with the relative strength index at 77.5 signaling overbought conditions, a short-term price correction may occur.

Despite significant growth and positive forecasts, investors should maintain caution due to possible market overbought conditions. Nevertheless, the prospect of ETF approval and current technical indicators suggest a continued upward trend for XRP.

0

Share

Other news

Overview of Qubetics, Ethereum, and Polkadot: Leaders of the Blockchain Revolution in 2025

In 2025, Qubetics, Ethereum, and Polkadot emerge as key players in the blockchain market, each with their unique solutions and technologies.

user avatarGiorgi Kostiuk

10 minutes ago

Qubetics, Stellar, and Kaspa: Top Cryptocurrencies for 2025

Overview of Qubetics, Stellar, and Kaspa projects offering unique solutions in the cryptocurrency world in 2025.

user avatarGiorgi Kostiuk

11 minutes ago

Overview of Qubetics and Injective: New Horizons in the Cryptocurrency World

Exploring the impact of Qubetics and Injective on the cryptocurrency market and their unique offerings.

user avatarGiorgi Kostiuk

23 minutes ago

Dragoin – Meme Coin with Real Utility and Games

Explore Dragoin, a new meme coin offering unique gaming opportunities and community engagement.

user avatarGiorgi Kostiuk

37 minutes ago

Day Trading Cryptocurrencies: How to Choose the Best Exchange for Trading

Explore the basics of day trading cryptocurrencies and learn how to choose exchanges for successful trading.

user avatarGiorgi Kostiuk

an hour ago

Analysis of Incentives for DAO Governance Participation

Incentives in DAOs foster governance participation, positively impacting the blockchain ecosystem.

user avatarGiorgi Kostiuk

an hour ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.