XRP Price Jumps 20% Following Trump’s US Crypto Reserve Announcement
XRP Price Surge
- XRP rose by 20% in 24 hours, reaching $2.69, with a peak of $2.97.
- Trading volume increased by 602.41%, totaling $22 billion.
- Market capitalization is now $155 billion.
- Forecast suggests XRP could reach $77.7 soon.
Trump's Announcement
- President Trump announced plans for a "US Crypto Reserve" via Truth Social.
- The reserve will include XRP, Solana, Cardano, Bitcoin, and Ether.
- Trump emphasized the need to elevate the crypto industry amid regulatory challenges.
“A US Crypto Reserve will elevate this critical industry... I will make sure the US is the Crypto Capital of the World,” stated Trump.
Analyst Predictions
- Analyst Dark Defender predicts XRP will test resistance levels at $5.85, $8.03, and $18.22.
- Forecast includes a mid-term target of $77.7 based on Elliott Wave analysis.
- XRP is currently in the third wave, which typically sees significant price movement.
Market Trends
- The broader crypto market saw an outflow of $2.9 billion from investment products.
- Bitcoin faced the largest withdrawal at $2.59 billion, followed by Ethereum at $300 million.
- XRP attracted a $5 million inflow, indicating rising institutional interest.
- Other altcoins like Solana and Toncoin continued to experience outflows.