Key Takeaways
- XRP price recently hit an all-time high of $3.66, and is up nearly 90% since June.
- Institutional strength is building after the launch of the ProShares Ultra XRP ETF.
- XRP Ledger activity is surging while systems like SWIFT are declining.
XRP price is in the news again, especially after it broke past $3.60. The crypto market is roaring with life, and regulatory clarity is improving. With this, XRP is now showing signs of becoming one of the strongest altcoins in this cycle.
XRP Price Rebounds After Months of Sideways Action
XRP price jumped by almost 90% in July from its June low of $1.90. The price surged to a record high of $3.66. Strong institutional interest and favorable developments in U.S. legislation fueled the rally.
This momentum indicates that this is just the beginning of a longer-term move. Some analysts are already eyeing $5 as the next milestone. XRP price prediction shows that the token might be set for a higher move.
For much of the year, XRP traded sideways in a tight range. With this, the prices have been hovering near the $2 mark for weeks, frustrating investors. However, under the surface, accumulation is substantial.
So far, the $1.90–$2.00 support zone has been repeatedly defended against deeper losses. It moved fast when the XRP price finally broke above $3 in late June. Within days, it retested and broke through multiple resistance levels, before hitting the $3.66 high.
Regulatory Clarity Opens the Door for ETFs and Banks
Much of XRP’s recent strength comes from the change in attitudes among regulators. In July, SEC Commissioner Caroline Crenshaw reassured markets that delays around a spot XRP ETF were procedural, not a rejection.
Shortly after this, the Federal Reserve, FDIC, and OCC made a joint announcement. This announcement allowed U.S. banks to offer crypto custody services.
This was a breakthrough moment for XRP, which has long been viewed as a payments-focused asset. It meant banks could finally interact with it directly and legally.
That same week, ProShares launched the first-ever XRP-linked ETF on the NYSE. The launch of the ProShares Ultra XRP ETF has enabled traditional investors to access XRP indirectly.
This shift may influence market dynamics and fuel new XRP price prediction trends. These developments are pushing XRP into the mainstream and making it more accessible to investors.
XRP Ledger Gains Ground As SWIFT Falters
It’s not just the ETF story driving XRP forward. There’s a rise in the adoption of the XRP Ledger (XRPL). Transaction volumes on XRPL have jumped in recent weeks.
At the same time, SWIFT has reported a 15% drop in usage. It has long been the backbone of international money transfers. This indicates a slow but steady shift away from legacy systems is incoming.
XRP is a direct solution to the SWIFT problem for international transfers. This is because of its low fees and fast transaction speeds. As more institutions experiment with on-chain settlement, XRPL is expected to become more and more popular.
Major Transfers Spark
Ripple co-founder Chris Larsen recently transferred over $25 Million worth of XRP to Coinbase. While this transfer is not necessarily a bullish signal, the move has been a primary source of publicity for XRP.
So far, institutional buyers have been unfazed. Trading volumes surged as the XRP price dropped to $3.40 during a brief selloff.
These investors quickly bought that dip, with the price rebounding to $3.47 within hours. This shows buyers’ firm conviction, even at such high prices.
Analysis Shows XRP price may touch $5, Maybe More
At press time, the XRP price was sitting at $3.66. With this, analysts are starting to revise their XRP price prediction upward. Many now expect a move toward $5 if the current trend holds.
Technical charts even support this view. For example, the daily charts show XRP forming a classic bull pennant. It is a pattern that usually comes before explosive breakouts. A close above $3.84 could trigger a sharp rally toward $7 or even $10 in a matter of weeks.
Some analysts are even more optimistic. A clean breakout of XRP’s market dominance. It is currently held at a resistance level of around 5.5%. This could kickstart what traders are calling a “mega bullish wave.”
In past cycles, similar breakouts led to 2x gains within a month. If the trend holds, the XRP price could target double-digit prices by the end of this market cycle.
Analyst Dark Defender sees XRP going as high as $23. It could face resistance around $3.61, $5.85, $9.76, and $18.22.