- XRP surges to $1.66, surpassing Binance Coin with a market cap of $99 billion, securing the fifth spot in crypto rankings.
- Whale activity drives XRP’s rally, with a $167 million transfer fueling investor confidence and market optimism.
- XRP’s market cap nears $100 billion, driven by growing institutional interest and positive regulatory developments.
Ripple cryptocurrency token XRP recently surged, with the price rising to $1.76 per token, the highest for 42 months. This rally has seen XRP surpass Binance Coin (BNB) as the fifth most valuable cryptocurrency by market capitalization. The increase has been fuelled by factors such as whale activity, improving market sentiment, and changes in the regulatory environment.
XRP’s market cap reached $99 billion on Friday, its highest over three years, surpassing BNB with $94 billion. This change in market ranking is quite significant, and considerable volatility has shown recoveries in XRP prices in the last few days.
Whale Activity Fuels XRP Price Surge
The increased demand for XRP in the market has been caused by high trading by whale investors. Notably, a transfer of 104.39 million XRP tokens worth $167 million between two unidentified wallets has recently attracted more attention in the crypto market. A blockchain analysis firm, Whale Alert, observed multiple large volumes of XRP transactions, encompassing purchases and sales. This large-scale activity shows that some investors are bullish about XRP’s future while others are skeptical.
However, investors and institutional traders have also deliberately increased their desire for XRP. Some analysts think that the increased activity of whales signals that more people believe in the token. On the other hand, increased sales to exchanges, especially Bitstamp and Binance, may be a sign of uncertainty among traders.
Due to the increasing price of XRP, various market analysts have bright prospects for the currency. For the short term, several analysts expect the token to rise to $2.00 per coin by the end of the year if the current rally trend is maintained.
Market Outlook for XRP: Short-Term and Long-Term Predictions
In the long term, a bullish outlook for 2025 reveals that XRP may average between $4.00 and $5.00, pushed by additional momentum and legal insights from Ripple’s SEC lawsuit. The positive resolution of the SEC case is believed to enhance investor confidence. Moreover, the expansion of XRP usage might result if Ripple acquires favourable regulatory approval in the United States.
Additionally, new achievements that can be seen as positive for XRP include the possibility of an XRP exchange-traded fund (ETF) and Ripple’s investment in the Bitwise Physical XRP ETP. This fuels speculation about XRP’s increasing role in the institutional investors’ sphere. These factors, along with increased trading activities and market demand, make XRP one of the top cryptocurrencies.
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