Becomes 3rd Largest Crypto With $139 Billion Market Cap
as this market Enter 2025, Ripple, this cryptocurrency That have obtained global investor interest exist latest month, already start this Year unusually Brilliantly.
The asset experienced an impressive 11% surge, pushing its value to around $2.42, its highest level since late 2024 price correction.
Analysts predict XRP could hit $5.85 as market confidence grows
This recovery has made XRP the third-largest cryptocurrency on the market, with a market capitalization of approximately $139 billion, according to CoinGecko data. Notably, it has surpassed Tether’s (USDT) market capitalization of $137 billion.
Part of the recent rise in XRP price is due to a broader shift in market sentiment following the election of President Donald Trump on November 5.
Trump’s victory has reignited confidence in the digital asset industry, leading investors to be more optimistic. this mood changes appears to have catalyzed a wave of buying activity within the crypto market, benefiting not only XRP but other digital assets as well.
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Cryptocurrency analysts have taken note of this trend. DarkDefender, a prominent figure in the cryptanalysis community, observed XRP’s price action has been impressive.
After hovering near $2.11, XRP broke through the initial resistance at $2.22 and touched as high as $2.44. DarkDefender highlighted $2.42 as a key resistance level, which has been updated as new support.
According to his analysis, if XRP can break out of the $2.67 to $2.72 range, it could pave the way for a sharp rise with targets as high as $5.85.
This potential increase would represent a 141% increase from current prices, marking a new all time high for the token.
Elliott Wave Theory Points to Potential $10 Target
Adding to the market’s optimism, another analyst named CryptoinsightUK weighed in on XRP’s potential trajectory. suggestion If XRP follows a cautious trend similar to previous price action, it could “easily surpass $10.”
Drawing from the Elliott Wave Theory, which holds that market trends move in waves, he believes that if XRP enters a “Wave 3” scenario, typically the largest price movement scenario, the asset could surpass $10.
CryptoinsightUK noted that many investors are targeting the $8 mark, a figure he believes is reasonable based on various factors. index.
Analyzing price action and potential gains, analysts believe the future of altcoins looks bright, with many indicators pointing towards substantial growth.
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As 2025 approaches, XRP’s impressive start and broader market dynamics suggest that we may be on the cusp of a major shift in the cryptocurrency landscape.
The confidence brought about by political changes and market sentiment is likely to set the stage for a new era of growth for XRP and XRP. cryptocurrency The market as a whole.
XRP is trading at $2.42, up 2% in the past 24 hours. Regarding transaction volume, CoinGecko data shows a drop of nearly 42%, totaling $5.6 billion.
Featured images from DALL-E, charts from TradingView.com
