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XRP has experienced a sharp price increase, pushing past the $3.30 mark and coming close to its all-time high of $3.40.
This move follows a breakout from a symmetrical triangle pattern that had been forming since 2018, indicating a potential long-term bullish trend.
According to crypto analyst Ali (@ali_charts), the breakout suggests an upside target of $15, based on the height of the pattern. XRP initially broke out from the $0.55-$0.75 range and surged rapidly, gaining 23.99% within a short period.
If the price maintains support above key levels, analysts suggest further price appreciation could be possible.
Source: X XRP Outperforms Bitcoin and Ethereum
While many cryptocurrencies have followed broader market trends, XRP has moved independently, outperforming Bitcoin (BTC) and Ethereum (ETH). In the last few hours, XRP recorded a 16% gain against both BTC and ETH, demonstrating strong buying interest.
Coingecko data indicates that XRP has seen a 14.03% increase in the last 24 hours and a 45.08% gain over the past seven days. The 24-hour trading volume currently stands at $28.3 billion, with a market capitalization of $192.45 billion, making XRP one of the most traded assets in the crypto market.
Market Metrics and Trading Interest
According to data from Coinglass, XRP futures have seen a 57.49% increase in trading volume, reaching $43.79 billion. Open interest has also climbed 17.92%, now standing at $8.29 billion, reflecting growing participation in leveraged positions.
Options markets have also shown increased activity. Options trading volume has risen 13.96% to $29,180, while options open interest is up 3.73% at $4.32 million.
The rising figures suggest that traders are positioning themselves for further price movement.
The chart tracking XRP futures open interest from August to January shows relatively low levels for most of the period, with values staying below $2 billion. A sharp rise started in late October, crossing $2 billion by mid-November and climbing to nearly $4 billion by the end of December.
Source: Coinglass
The most recent spike in early January pushed open interest past $6 billion, nearing $8 billion.
SEC Developments and Regulatory Changes
Reports suggest that the U.S. Securities and Exchange Commission (SEC) may be considering changes to its stance on cryptocurrency regulation. According to Reuters, the SEC might pause or drop certain non-fraud crypto-related cases in court.
The shift comes as SEC Chair Gary Gensler prepares to leave his position next week, with a new Republican-led majority set to take over.
The incoming leadership, including Mark Uyeda and Hester Peirce, plans to introduce clearer guidelines on whether specific digital assets should be classified as securities. This development has created speculation about how future regulatory policies may affect XRP and the broader cryptocurrency market.
FAQs:
What is XRP’s current price?
XRP is trading around $3.36, nearing its all-time high of $3.40.
Why is XRP rising so fast?
XRP broke out of a symmetrical triangle pattern, signaling a bullish trend with a potential target of $15.
How is XRP performing against Bitcoin and Ethereum?
XRP has gained 16% against BTC and ETH, showing strong independent momentum.
The post XRP Analysis: Price Nears $3.40 ATH, Eyes $15 Target Amid Surge appeared first on Coinfomania.
$USUAL All coins are huge pumped up now it is turn of the $USUAL i also got to see good in this
Crypto Market Alert!
* Keep an eye on the charts and your portfolio, and remember: DYOR (Do Your Own Research)! Crypto market is always changing, so stay informed and then invest!
1. *Crypto exchanges' updates available*: Your crypto exchange's blog and announcements are available.
2. *Listen to the opinions of industry leaders*: Listen to the opinions of crypto experts and industry leaders on social media. *For success in crypto investing:*
3. *Set clear goals and risk tolerance*: Clearly define your investing goals and risk tolerance.
4. *Diversify your portfolio*: Include different crypto assets in your portfolio.
5. *Keeping an eye on Market developments*: Keeping an eye on Crypto market updates and taking informed decisions..
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The XRP market has once again proven to be a playground for bold traders, as a short position worth $150,000 was liquidated at an impressive price point of $2.321. This event marks a significant moment for the cryptocurrency, signaling a renewed surge in investor confidence and substantial upward price momentum.#BinanceAlphaAlert
What Led to This Liquidation?
Over the past few weeks, XRP has experienced a mix of regulatory clarity, bullish sentiment, and growing institutional interest. Recent updates from Ripple's ongoing legal battles have provided much-needed optimism to the community. As the token surged past resistance levels, it caught many short-sellers off guard, leading to this notable liquidation.
The price crossing $2.321 is significant in several ways:
1. Psychological Barrier: The $2 level has been a crucial psychological resistance for months, and XRP smashing through it with force demonstrates its strong bullish momentum.
2. Market Momentum: The liquidation highlights how leveraged positions in the volatile crypto space can dramatically sway market trends.
What Does This Mean for XRP's Future?
Such liquidations often signify more than just a market shakeout:
Bullish Continuation: When shorts are liquidated, it creates additional buy pressure, potentially driving prices even higher.
Increased Volatility: Traders should brace for more wild swings as the token approaches new
Its normal tokenomics as you can see to max supply is 4 B
Jetsky
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$USUAL have you guys noticed that since the start they are constantly increasing the total supply ? Is it a way to not make it pump too hard quickly ? 🤔
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