XRP Roars Back: Secures #4 Ranking with $170B Market Cap – Is $3.75 the Next Stop?
XRP just bulldozed its way back into crypto's top 4 – and traders are betting this is just the warm-up.
The $170 billion market cap milestone puts Ripple's darling within striking distance of its 2021 ATH. Market whispers now ask: can lightning strike twice?
The FOMO factor: Retail traders are piling in after institutional players spent Q2 accumulating. Classic 'buy the rumor, sell the news' setup – assuming the SEC doesn't yank the rug (again).
Technical breakout: The charts scream bullish, but let's see if XRP holders actually take profits this time or repeat their 2018 'diamond hands into oblivion' strategy.
Wall Street analysts are already drafting their 'we told you so' reports – conveniently forgetting they called XRP 'dead' six months ago.
- XRP surged nearly 12% in one day, closing at $2.85 and briefly touching $2.97.
- Price broke above $2.60 resistance with RSI at 81.05 and strong momentum above all major EMAs.
- Derivatives open interest hit $7.2 billion as spot volume soared to $10.84 billion.
- Whale accumulation and ETF speculation are fueling optimism for a breakout above $3.
XRP is back in the limelight as it surges almost 12% in a day, closing at $2.85 and touching a high of $2.97 momentarily. The surge places the token NEAR the $3 mark, last witnessed in early 2018. With a market cap now exceeding $170 billion, the token has re-entered the top 4 cryptocurrencies, which spells a significant comeback in the process.
$3 Breakout Could Lead to $3.75
Technically, the token has breached above its major resistance at about $2.60 and is currently trading above the higher Bollinger Band, which reinforces strong momentum. The Relative Strength Index (RSI) has shot up to 81.05, reflecting overbought circumstances, while the MACD reveals a developing bullish crossover.
Price action is holding above all major EMAs, 20, 50, 100, and 200, which reinforces the strength of this breakout. A MOVE above $3 could open the door to targets at $3.30 and $3.75.
XRP Sees Derivatives Spike, Whale Activity, and ETF Buzz
XRP demonstrates strong indications of fresh momentum. Open interest has spiked to $7.2 billion, as per Coinglass, indicating increasing demand through the derivatives market. Spot volume has similarly spiked to a record $10.84 billion, which indicates fierce activity in the marketplace.
Meanwhile, the whales have stored over $3.8 billion of XRP, which fuels the bullish setup further. On the fundamental side, Ripple’s RLUSD stablecoin continues to gain adoption, introducing a new use case to its ecosystem.
Regulatory certainty is also increasing, as the SEC has validated that XRP isn’t a security. Speculation, meanwhile, is growing about a prospective XRP ETF, which could spring the floodgates for institutional money.
As the volumes build, the activity of whales, and the regulatory pressure abates, XRP appears closer than ever to a breakout over the $3 ceiling.
: This article is based on real-time market data and general technical observations. It does not constitute financial advice. Always conduct your own research before making investment decisions.
