XRP Price Gains 3% as Analysts Predict Bull Rally Toward $15
XRP has been consolidating between its 2018 and 2021 all-time highs of approximately $3.4 and $2, with recent trading around $2.44 after a 3% increase. Key facts include:
- Market capitalization: $243 billion
- 24-hour trading volume: $4.8 billion
- Crucial resistance level at $2.6
- $6.4 million liquidated from leverage market in the last 24 hours
Improving Fundamentals
The XRPL network benefits from Ripple Labs’ initiatives, aiming for XRP to be classified as a commodity rather than a security. Developments in crypto regulations under the Trump administration may positively impact ongoing legal cases involving XRP.
- Joint motion by Binance and the US SEC to pause ongoing legal case for 60 days
- Increased on-chain activity driven by institutional investors
- Investment firms filing to list spot XRP ETFs
Price Targets
Technical analysis indicates a macro bull rally for XRP, with potential price targets including:
- Analyst target: $15 based on breakout patterns and Fibonacci levels
- Potential short-term drop to around $1.98 if resistance at $2.6 is not overcome