XRP Surges to Third Place, Overtakes USDT with $139 Billion Market Cap
As 2025 kicks off, XRP is capturing significant attention in the cryptocurrency world with an impressive start to the year. The digital asset has soared by 11%, pushing its price to around $2.42—levels unseen since the market correction in late 2024.
Analysts Eye $5.85 for XRP Amid Growing Optimism
XRP’s recent rally has propelled it to the third-largest cryptocurrency by market capitalization, surpassing Tether (USDT). Data from CoinGecko places XRP’s market cap at approximately $139 billion, edging out USDT, which stands at $137 billion.
This surge is largely attributed to a shift in market sentiment following the election of Donald Trump as U.S. President on November 5. The political development has reignited investor confidence in the broader digital asset sector, spurring increased buying activity across the crypto market.
Renowned crypto analyst DarkDefender noted XRP’s strong upward momentum. Initially trading around $2.11, the asset broke through resistance at $2.22, climbing to a peak of $2.44. DarkDefender identified $2.42 as a crucial resistance point that has now turned into a support level.
He further highlighted that breaching the $2.67–$2.72 range could open the door for a significant rally, potentially pushing XRP to $5.85. Such a move would mark a staggering 141% increase from its current price, setting a new all-time high for the token.
Elliott Wave Analysis Suggests Potential $10 Milestone
Adding to the bullish sentiment, CryptoinsightUK, another prominent analyst, has outlined a possible trajectory for XRP. Using Elliott Wave Theory, which suggests markets move in predictable wave patterns, he posits that XRP could enter a "wave 3" phase—historically the most explosive wave—potentially taking the price above $10.
CryptoinsightUK also pointed to the $8 mark as a realistic target based on current market metrics, suggesting that the altcoin has ample room for growth.
A Promising Start to 2025
XRP’s strong performance and the evolving market dynamics signal the possibility of a significant shift in the cryptocurrency landscape. With renewed investor confidence driven by political changes and bullish technical indicators, XRP appears poised for continued growth.
As the year unfolds, the broader market’s optimism may lay the foundation for a transformative period not just for XRP but for the entire cryptocurrency ecosystem.