With an increase of over 30% in the last 24 hours, XRP has moved up to third place in terms of market value, leaving USDT behind.$XRP
XRP has been on the rise since the US presidential election on November 6. The crypto-friendly nature of US policies has provided great support for cryptocurrencies, especially XRP. Donald Trump’s plans for Bitcoin, who was elected as the 47th president of the United States, and the resignation of SEC Chairman Gary Gensler were important factors in XRP’s appreciation.
Freed from SEC pressures, XRP is on the agenda with the possibility of being opened to institutional investors through spot ETFs and being used as a global payment tool. These developments have pushed the XRP price to $2.4.
Having risen by over 370% in the last month, XRP has increased by 30% in the last 24 hours, bringing its market value to $137 billion, leaving USDT behind.
Some investors have begun to bet that the Simpsons series' $589 prophecy will come true.
XRP Continues to Rise Rapidly
XRP, which was traded at $ 1.8 levels in recent days, started the first trading day of the week at $ 2.4 levels. This rapid rise led to the determination of new targets for XRP. Crypto analyst Michael van de Poppe made the following statements in his post on X:
“XRP breaking $2 means a lot. If an old crypto like XRP can surge 300% in three weeks, imagine what we can expect from new crypto. Let me remind you that the bull cycle is just beginning.”
XRP’s next target is $2.45, the peak from December 25, 2017. If it breaks that level, it is expected to test $2.8. If it breaks the $2.8 level, XRP could reach a new all-time high of $3.4. It was last seen at that price 7 years ago.
This rapid rise in XRP is creating excitement among investors. Creating a huge FOMO (fear of missing out) in the crypto community, XRP keeps its daily trading volume between $30 and $35 billion. Investors predict that XRP could see a new all-time high by the end of the year.
However, for some investors, the long-term price target is the Simpsons’ prophecy of $589. The phrase “XRP 589 eoy” written on a board in one episode has become legendary in the crypto community, even though it is not real, and is still remembered with great interest.