XRP Price Surges Over 10% as Bullish Outlook Continues
Ripple Labs' XRP has entered a bullish phase, signaling the start of the 2024/2025 bull cycle. Key information includes:
- XRP's fully diluted valuation is approximately $269 billion with a 24-hour trading volume around $5 billion.
- The price surged over 10% to about $2.68 on February 14, following a rebound from $2.3.
- XRP is retesting the resistance level at $2.72 after breaking out from six years of consolidation.
- A successful close above $2.72-$2.88 could push XRP towards the upper boundary of its bullish flag formation.
- If support at $2.3 holds, XRP may aim for a new all-time high (ATH).
- Potential bearish signals include a head and shoulders pattern and RSI divergence, with support around $1.26 if bearish trends continue.
Reasons for optimism include:
- Strong fundamentals and developments enhancing XRPL's DeFi capabilities.
- Ripple USD (RLUSD) market cap exceeds $108 million, supported by partnerships for mainstream adoption.
- Anticipation of spot XRP ETF approval in the U.S., with regulatory acknowledgment of Grayscale XRP Trust's filing.
- Increased interest from institutional investors due to leadership changes in U.S. financial regulatory agencies.
- XRP listed on Crypto.com by February 14, 2025.