Ripple’s XRP token had quite an incredible start to the year. The asset breached the $3 mark in January for the first time in seven years. XRP’s price has rallied 7.4% in the last 24 hours, 7.8% in the weekly charts, 7.9% in the 14-day charts, 29.4% over the previous year, and 358.1% since May 2024.
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Cryptocurrency Market Boom
The cryptocurrency market is experiencing a massive rebound today. Bitcoin (BTC) is testing the $104,000 level. The global crypto market cap has risen 3.6% in the last 24 hours to $3.37 trillion. XRP and most other assets are trading in the green zone following BTC’s recent surge.
The market rally came after President Trump announced a US-UK trade agreement. The stock market also went up following the development.
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XRP’s rally also follows Arizona’s move to create a digital asset reserve fund. Market participants may have experienced a surge in confidence after the governor signed the bill into law.
Will XRP Hit $5 in 2025?
Ripple’s XRP token is currently down by 29.2% from its all-time high of $3.40. The asset hit a peak in January 2018, more than seven years ago. XRP has to rally by around 111.8% to hit the $5 mark.
According to Changelly’s estimates, Ripple’s XRP token will not breach the $5 mark till February 2027, about two years from now. The platform anticipates the asset to trade at a maximum price of $5.13 in February 2027.
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Telegaon analysts are quite bullish on Ripple’s XRP token. The platform predicts XRP will trade at a maximum price of $5.87 in 2025.
There are 10 XRP ETF applications with the SEC. There is a high chance that the SEC will approve at least one XRP ETF this year. An ETF approval will likely lead to a surge in institutional investments. The move could lead to a massive price spike for the asset.