Why did XRP rise 6% today?
Hey, did you hear? XRP is on fire today, with a price surge of more than 6%! Everyone is talking about this cryptocurrency, so why is it so eye-catching? Let me give you a brief analysis.
First of all, the entire cryptocurrency market is rising, and XRP is naturally benefiting from it. The price of Bitcoin is approaching $97,000, and the 24-hour chart is green. Big cryptocurrencies like Solana and Cardano are also rising.
Then, there is big news! Brazil has just approved a company called Hashdex to launch the world's first spot XRP exchange-traded fund (ETF). Everyone is waiting for this ETF to be officially released. In the United States, the Securities and Exchange Commission (SEC) is also paying attention to the ETF applications of big companies such as Canary Capital and WisdomTree. It is said that by 2025, there is an 80% chance that the XRP ETF will be listed in the United States!
The attitude of the United States towards cryptocurrencies is also changing, from previous suspicion to current curiosity. The SEC has also suspended its lawsuit against Binance and Coinbase, and there are rumors that Ripple may also resolve the issue through negotiations with the SEC. What's more interesting is that Donald Trump also mentioned Ripple and XRP on Truth Social, which immediately drove up the price.
Now, the price of XRP is hovering around $2.7, and the trading volume has soared by 7% to $5.37 billion per hour. Some analysts even predict that the price of XRP may rise to $100 in the future! However, this is just their private prediction, and it depends on how the market goes.
I personally think that if XRP can maintain its strength above $2.62, the next step may be $2.83. If it breaks through this level, the price of XRP may reach $2.9 to $3.10. Will $3 be the next big goal for XRP? Let's wait and see!
