XRP
XRP surged to $2.1 today, rising 7% within a day. Before this, XRP's price had been quiet for a while, as if it was quietly building power. Now it has finally regained the $2 mark, indicating that everyone is starting to have confidence in it again.
This positive trend seems to be telling us: XRP may be starting a new round of increases. The current energies are preparing for its continued rise. Some technical indicators even suggest that XRP's next target could be $3!
In fact, it's not just XRP; the entire cryptocurrency market experienced a rebound yesterday. The market had previously suffered a sharp decline, but now it is slowly regaining vitality. Major coins like Bitcoin and Ethereum are rising—Bitcoin has already surpassed $86,000, and Ethereum has also reached $2,800, even Dogecoin has risen by 5%.
Such overall recovery has improved the sentiment in the altcoin market, and interest in XRP has naturally returned. From a technical perspective, XRP has a good chance of breaking through this week, potentially even reaching $3. The upward potential in the future remains promising.
This Monday, Grayscale Investments launched two new spot exchange-traded funds on NYSE Arca: GDOG and GXRP. These two ETFs directly invest in Dogecoin and Ripple, both of which are very popular secondary tokens in the cryptocurrency space.
This is also the first time U.S. investors can purchase these tokens through traditional financial markets in a regulated manner. Grayscale has been working hard to bridge the gap between cryptocurrency trading and traditional trading, providing investors with more options.
As trading becomes more active, the total open contracts for XRP futures have also increased significantly, currently reaching $3.55 billion, up by 8.69%, setting a historical high. This indicates that more people are participating in derivatives trading, and the price of XRP has risen accordingly.
In recent trading over the past 4 hours, the price of XRP surged to $2.1, showing very strong momentum.
The MACD indicator has broken through the signal line, and the histogram is also moving upwards, indicating that the strength of the bulls is increasing. The Relative Strength Index (RSI) is currently in the middle zone of 50, suggesting that the previously oversold condition has been reversed.
Next, XRP will face a short-term test at $2.20, which has been a resistance level in recent weeks. According to the complete XRP forecast report, if it can successfully break through here, the price is expected to further surge towards $2.50. If buying pressure remains strong, XRP could even approach $3.00, which would be a 50% increase from now!
If this momentum can be sustained, the target of $3 is very hopeful to be achieved. Technical indicators, investor confidence, and the growing demand for derivatives all suggest that XRP may soon experience a real breakthrough.
