XRP is expected to retest $0.7, boosted by Ethereum ETF hype

XRP has recently recorded important moves, indicating that its price may have hit a bearish bottom. Currently, XRP is priced at $0.5908, up 7.62% in the past 24 hours. This rise is a significant upgrade for altcoins that have entered negative growth territory due to volatility, suggesting that the worst may be over.

XRP price target is $0.7

To reach the short-term target of $0.7, XRP needs to rise by at least 18% again. Although 18% growth may not seem large, it is not easy to achieve given the market volatility.

Recent performance and growth potential

XRP has performed strongly recently, rising more than 16% in the past seven days, while many competitors have seen negative growth. So far this month, XRP has increased by 18%, showing solid momentum. Several positive indicators and related innovations have boosted market sentiment. Although XRP is well positioned for growth, its future performance still depends on the broader market outlook.

The impact of Ethereum ETF

In the coming week, the market will usher in the launch of Ethereum spot ETF products. Although Ethereum currently has a 17.3% market dominance, the launch of this product may have a strong boost to the entire market.

In recent weeks, many tokens have been in a stalemate, and the market is looking forward to catalysts to break the situation. Overall, XRP is expected to be the main beneficiary as its current growth trend leads the market.

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