XRP News: Ripple’s XRP Predicted To Reach New High of $4.40

Ripple’s XRP token has recently surged past the $3 mark, achieving its highest price in seven years and overtaking Tether (USDT) to become the third-largest cryptocurrency by market capitalization. Analysts predict that XRP could reach a new peak of $4.40 in the near future, driven by its strong performance and growing adoption.

Ripple’s XRP Predicted To Hit New Peak Of $4.40: Here’s When

Ripple’s XRP token has experienced a significant rally recently, surpassing the $3 mark for the first time in seven years and overtaking Tether (USDT) to become the third-largest cryptocurrency by market cap. Over the past week, XRP has seen a 20.2% increase, with a 26.9% rise over the last 14 days, a 38.6% increase over the previous month, and a remarkable 452.2% surge from a year ago. Despite this, the asset has slightly decreased by 1.2% in the last 24 hours. Currently, XRP is 9.8% below its all-time high of $3.40, achieved in January 2018. Cryptocurrency analyst Ali Martinez predicts that XRP, having broken out of a bullish flag, could reach a new all-time high of $4.40.

XRP Breaks Out Of Bull Flag And Targets $4.40, Predicts Crypto Analyst

Crypto analyst Ali Martinez has identified a breakout from a descending channel, known as a 'bull flag,' in XRP's price chart, suggesting a potential continuation of its upward trend. This pattern, observed on a two-hour Binance chart, indicates a possible push towards $4.40 based on Fibonacci extension levels. XRP's price initially surged from approximately $2.3374 on January 13 to a local high of $3.3509 by January 17, forming the flagpole. Following this peak, the price entered a consolidation phase within a downward-sloping channel from January 17 through January 19, briefly dipping below the 0.786 Fibonacci retracement level at $3.1021 before rebounding. The breakout above the channel's upper boundary signals a bullish outlook for XRP.

Ripple: What’s Next For XRP As Gensler Resigns: ETFs, $5 Milestone Or Both?

With the resignation of Gary Gensler and the appointment of Mark Uyeda as the new chief of the US Securities and Exchange Commission, the cryptocurrency industry, particularly Ripple (XRP), is poised for potential growth. Ripple has faced significant scrutiny under Gensler's regime, but the new administration is expected to foster a more favorable environment for cryptocurrencies. This shift could significantly impact XRP's future, possibly leading to milestones such as the introduction of ETFs or reaching a $5 valuation.

Trader’s Hot Take: XRP Branded The ‘Biggest Meme Coin’ In Crypto

The increasing popularity of XRP is generating a mix of reactions. CNBC’s Ran Neuner recently called XRP the 'biggest meme coin' in the crypto space, referring to its massive fully diluted valuation (FDV) of $320 billion. He opined that though it’s currently touted as one of the most popular utilities, its market dynamics resemble more those of meme coins than a utility-based crypto asset. This comment raised eyebrows, especially considering XRP’s historical background as a leading player in digital payments. Due to its rapid value growth, many people are reconsidering XRP’s position in the market. Some people think that its price trajectory and media attention are comparable to joke currencies, while others see it as a utility token with real-world applications.