- Around 12% increase for XRP in the last 24 hours
- With the current price of $2.74, analysts believe it might hit $3 soon
- The SEC has acknowledged Grayscale’s filing to convert its XRP Trust into a spot ETF, initiating the formal review process.
Lately, there’s been some real excitement around XRP. The cryptocurrency’s price popped over 12% since yesterday, and people are talking.
Naturally, this sparked all kinds of speculations about how high it can go, with the current price standing at $2.74. Ali Martinez, a well-known crypto analyst, shared two interesting posts on X accompanied by charts.
He believes that XRP’s potential for a price surge towards $3 hinges on maintaining a price above the $2.30 level.
Today, he shared a chart, showing that XRP is demonstrating a rebound from its channel’s lower boundary, gaining upward momentum toward the $3 price target which may happen in the near future.
Related: XRP Price “Ready to Roll”? Analyst’s Chart Sparks Debate Over $15 Target
Short-Term & Long-Term XRP Price Predictions
It’s hard to say whether that will be tomorrow, but some analysts believe a more realistic scenario for XRP is to be between $2.7 and $2.85 on February 15.
Driven by increased institutional adoption and favorable regulatory developments, some forecasts are even more optimistic when it comes to a long-term price, with expectations that XRP could reach between $5 to $7 in the first half of 2025.
Once again, it’s difficult to assess the chances of this happening, but those “less” optimistic analysts do believe that XRP might reach around $4 in April.
Why the Sudden XRP Hype?
The main reason why XRP has been mentioned a lot in the crypto world in the last 24 hours is due to the US Securities and Exchange Commission (SEC) acknowledging filings from Grayscale (a crypto asset management company) to convert its XRP Trust into a spot exchange-traded fund (ETF).
This acknowledgment is viewed as a significant step toward potential approval, signaling increased institutional acceptance of XRP.
XRP’s Market Resilience
In addition, despite recent economic data indicating higher-than-expected inflation, XRP has demonstrated resilience, posting gains alongside other major cryptocurrencies. This performance suggests sustained investor confidence in XRP’s prospects.
Putting it all together, recent events—the SEC looking at XRP ETF proposals and XRP’s strong market showing— add up to a positive picture for the cryptocurrency.
Related: Ripple CEO: XRP ETF Approval “Inevitable” – Analyzing Potential XRP Price Reaction
Remember though, crypto markets swing wildly. While things look good now, investors should be careful and remember the risks.
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