tl;dr
TL;DR: XRP's price surged to nearly $2.90, hitting a 7-year high, driven by optimism around its use in banking, ETF speculation, and bullish predictions. Experts foresee potential highs of $4 and $8, with projections of its market cap surpassing $500 billion. The broader cryptocurrency market also s...
XRP's price surged to nearly $2.90, hitting a 7-year high, driven by optimism around its use in banking, ETF speculation, and bullish predictions. Experts foresee potential highs of $4 and $8, with projections of its market cap surpassing $500 billion. The broader cryptocurrency market also saw a significant revival, with XRP leading the pack in price spikes. Analysts believe XRP could reach new all-time highs, with some predicting a market cap exceeding $500 billion.
The cryptocurrency sector experienced a substantial revival in the last 24 hours, with its global market capitalization rising above $3.5 trillion once again. Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and many more leading digital assets are well in the green today (January 15), but some lead the pack with double-digit price spikes. One notable gainer is Ripple’s XRP, whose valuation recently hit a 7-year high of almost $2.90. Currently, the price is hovering around $2.88 (per CoinGecko’s data), representing a 14% increase on a daily scale.
As mentioned above, numerous analysts believe the price of Ripple’s native token could reach a new all-time high as soon as this year. CRYPTOWZRD recently claimed that the asset “has flipped previous resistance to support” of around $2 and is now poised to soar to $4 and then $8. They said such a scenario would mirror the pre-bull run in 2017 and the subsequent rally the following year. The veteran trader Peter Brandt also chipped in. He outlined multiple bullish forecasts lately, assuming that XRP’s market capitalization could explode above $500 billion. Such a pump would result in a price increase of almost $9.50.