TLDR
- XRP’s market cap now exceeds Shopify, Verizon, and Citigroup.
- XRP is trading above $3.10, marking a 12% weekly gain.
- ETF speculation boosts XRP, with targets of $6 and beyond.
- XRP’s resistance at $3.60 could trigger further price surges.
XRP has recently surged to new heights, surpassing major corporations like Shopify, Verizon, and Citigroup in market value. This achievement highlights the growing confidence in XRP’s future prospects. With speculation about the launch of an XRP-focused ETF and increasing bullish trends, the cryptocurrency is now eyeing a potential price of $6. As XRP continues to attract attention, traders and analysts are projecting further gains, potentially pushing its value even higher.
XRP Overtakes Major Corporations in Market Value
XRP has seen a significant rise in its market capitalization, surpassing major players like Shopify, Verizon, and Citigroup. Data from Companies Market Cap reveals that XRP’s market cap has now outpaced the combined value of these well-established companies. Despite being a cryptocurrency, XRP has gained notable recognition, with its valuation now surpassing firms that serve millions of customers and manage trillions in assets.
The recent surge follows a 12% gain in the past week, with XRP trading above $3.10 for the first time in weeks. Analysts have linked this growth to a broader recovery in the digital asset market. The momentum has led to growing optimism for XRP’s continued price movement, with some suggesting it could soon test new highs if key resistance levels are broken.
Bullish Sentiment Driven by ETF Speculation
The main factor behind XRP’s current rally is the increasing speculation about the potential launch of an XRP ETF in the U.S. Market analysts have suggested that the expected launch of the REX-Osprey XRP ETF, which could happen next week, has contributed significantly to the altcoin’s price rise. Though the ETF launch was initially scheduled for this week, it has been delayed, further fueling speculation.
The anticipation surrounding the ETF launch has sparked optimism, with analysts projecting that the altcoin could break above the $4 level. This would mark a major milestone, as it would put XRP on track to reach even higher price points, including a potential surge to $6. However, much of the upward movement depends on XRP’s ability to maintain momentum and break key resistance levels that are currently in place.
Analysts Set Higher Price Targets
Several crypto analysts are setting high targets for XRP if it continues to break resistance levels. According to XRP CRO, the current price movement is forming a bull flag pattern, signaling a potential breakout. The analyst has projected targets of $6, $13, and $23 for XRP if it manages to push past resistance at $3.60. These optimistic projections suggest that altcoin still has significant upside potential, depending on market conditions and continued bullish momentum.
Crypto analysts like Dark Defender have also highlighted key price levels to watch, with resistance at the $4.39 and $5.85 Fibonacci levels. Meanwhile, they have identified support levels at $3.01 and $2.85, which could act as critical points in the event of a price pullback.
Additionally, analysts like Egrag Crypto have pointed to patterns that suggest XRP could be on the verge of a breakout, with the possibility of reaching new all-time highs if the bullish trend continues.
In conclusion, XRP’s recent surge in market value, combined with growing speculation around the ETF launch, has positioned altcoin for further gains. Traders and analysts alike are watching the price action closely, with many projecting significant price targets in the coming weeks.
