The XRP price surged with a remarkable 6% rise over the last day, The news about the world’s first spot XRP exchange-traded fund (ETF), which is scheduled to start in Brazil shortly, is the main driver of the rally.
Currently, trading at $2.70, reflecting a 5.22% daily increase. Its market capitalization stands at $155.98 billion, while the 24-hour trading volume has surged to $5.4 billion, marking a 9.68% rise. The price chart displays a consistent upward trend, highlighting increased investor interest and market stability.
Factors driving XRP’s recent price surge
XRP is up on the broader market and US regulatory progress. Bitcoin is at $97,000, Solana and Cardano are up, and the whole crypto market is bullish.
One of the catalysts for XRP’s move is the XRP ETF. Hashdex just got approval to launch the first spot XRP ETF in Brazil, and people are waiting for the launch date from B3. That’s given a lot of confidence to the Ripple token.
Moreover, US President Donald Trump mentioned Ripple and XRP on Truth Social. He got people talking again about the token.
Market analysis and price targets for XRP
Despite the hype, Ali’s warning is that XRP will have a short-term pullback. The TD Sequential on the 3-hour chart has given a sell signal after the 11% up move. Be cautious, as price corrections can come with volatility.
If the momentum continues, XRP will retest $3.00. If it stays above this level, it will open the door for a move to the $3.50 resistance zone. When the selling pressure increases, the price will return to $2.60 or $2.50. If bearish sentiment deepens, the price will go down to $2.00.
Technical indicators signal mixed market sentiment
Indicators are mixed on XRP. RSI is 60.19, so buyers are in control but not overbought. MACD line is above the signal line, so bullish momentum is ongoing. But the lines are converging, so the trend may slow down soon.
Price action is showing higher highs and lows, so overall, it’s an uptrend. If buyers continue to push, the next target is $2.80, and then a retest of $3.00. If buyers lose steam, we will see a pullback to lower support zones.
XRP’s recent price surge is driven by positive market sentiment, regulatory developments, and ETF-related news. While bullish momentum points toward further gains, market participants should remain aware of potential corrections in the near future.
