- XRP rallied over 26% to a three-year peak at $0.98 prior to now 24 hours.
- The sudden pump coincided with Robinhood’s relisting of the token.
- Nevertheless, technical indicators recommend that the digital asset has been constructing momentum for a very long time.
- It might be seeking to breach the $1 territory quickly.
XRP has fallen from its standing because the second-largest cryptocurrency by market cap greater than half a decade in the past to sixth place within the rankings. In reality, Dogecoin
With a brighter future on the horizon, especially in the US, XRP may finally be able to completely shake off the cobwebs toward new heights.
XRP Performance
XRP just pumped by over 26% in the 24-hour chart as it moved from a $0.7762 low to a $0.9821 high. As of 6:00 AM UTC this Saturday, it remained within its peak, hinting that it could be breaching the $1 soon.
Along the way, XRP, which has stagnated under $1 zone in the past few years, has experienced more than a 6% increase in its trading volume as it moved around $11.87 billion worth of its token assets in across DeFi wallet addresses. Meanwhile, the latest developments elevated the market cap of its 56.93 billion circulating supply to $55.79 billion to reclaim its spot in the top six crypto by market cap rankings that DOGE temporarily snatched a few days ago.
The figures are still a far cry from XRP’s all-time high of $3.84. However, if it continues to break through its key resistance points on the way to 2025, earlier predictions of its potential climb to a new record-high price may not be far from impossible. One analyst even suggested that it could be due to a $6 to $13 jump soon.
Robinhood Relists Major Altcoins
Many analysts were quick to point out that Robinhood’s relisting of XRP most likely catalyzed its dramatic price action. Recently, the crypto trading platform reintroduced the token, together with other major altcoins Solana (SOL) and Cardano (ADA).
The company cited strong customer demand as a reason for the move. It should be noted that Robinhood removed the said tokens last year due to regulatory pressure. Thus, their relisting has sparked renewed optimism in the market as the US is about to welcome its first pro-crypto president, Donald Trump, next year.
A Long Time Coming for XRP
On the other hand, analysts who have been closely watching the technical charts were not surprised by XRP’s latest rally. For them, the writing has been on the wall since the token traversed an overdue consolidation phase.
Citing the Elliot Wave pattern, some experts said XRP is already on Wave III following a corrective action in the recently concluded Wave II. If the token’s upcoming correction reenters the trend, it could be positioned for a bullish path beyond $1 on the way to a series of new ATH.