In the past 24 hours, XRP has shown a significant increase, reaching $2.90, with a weekly gain of 28%. This success coincided with a ceasefire between Israel and Iran, boosting market optimism.
Recent Jump in XRP’s Price
XRP rose by 5% in the last 24 hours, reaching $2.90, and has shown a 28% increase over the week. This followed news of the ceasefire between Israel and Iran, which provided momentum for growth. XRP managed to surpass Tether, becoming the third-largest cryptocurrency with a market capitalization of $175.76 billion.
Analysts' Forecasts for XRP
According to analysts, two key factors are driving the rally in XRP. The increase in liquidity due to Bitcoin's record and the investor interest triggered by XRP surpassing Tether play a vital role. Blockchain analytics firm Santiment reported a record number of wallets holding over one million XRP, indicating strengthened institutional purchases.
XRP's Prospects Amid Market Growth
Analyst XRPunkie described the current bullish structure for XRP, suggesting that it may break past the previous peak of $3.40 and enter a discovery zone. If Bitcoin and Ethereum continue to set new records, XRP might approach $5 by the end of the month. However, overbought signals could lead to a short-term correction to the $2.55–2.60 range.
With the growing interest in XRP and the potential for further rises, there is increasing attention from both institutional and retail investors.
