XRP price surges: Can it reach the target of $1 by the end of the year?
XRP, also known as Ripple, is a cryptocurrency created by Ripple Labs, an American technology company in 2011, with a fixed total of 100 billion coins. In the cryptocurrency world, it is a big name, following closely behind Bitcoin and Ethereum, although its popularity and number of investors are still a little behind.
What exactly does Ripple do? Simply put, Ripple is like a decentralized trading platform where everyone verifies transactions, and XRP is the "money" circulating on this platform. Without XRP, the Ripple network would not be so smooth.
Recently, the price of XRP has been incredible, rising by 7% in one day, which is stronger than the entire cryptocurrency market. The exchange rate of XRP to BTC has also reached a new high this year, rising by nearly 60% in less than two months. This momentum makes people have to pay attention!
From a technical perspective, XRP's rise is confident. Its trading chart shows that the price has broken through last year's resistance level and looks like it will continue to rise. However, to return to the high of $1, XRP still needs to rise by more than 50%, which is a long way to go.
Speaking of XRP ETF (Exchange Traded Fund), although everyone thinks it will happen sooner or later, it is estimated that we will have to wait for a while. After all, XRP's current trading volume and funds have not yet reached the ETF standard, and the outcome of the lawsuit between Ripple and the SEC (U.S. Securities and Exchange Commission) will also affect the progress of the ETF.
On the market side, the enthusiasm for XRP is quite high. Everyone is looking forward to it becoming popular again, and even threatening the status of Bitcoin. If XRP can maintain this momentum, its status in the cryptocurrency circle will change drastically.
According to the current trend, if XRP can hold steady and not fall, it may really reach the $1 mark by the end of the third quarter or the beginning of the fourth quarter of next year.
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