Ripple’s XRP token is facing substantial resistance at around $2.10. According to CoinGecko’s XRP statistics, the asset has rallied by 2% in the last 24 hours, but is down 5% over the last week, 4% in the 14-day charts, 15.3% over the previous month, and 3.7% since December 2024. XRP had an incredible start to the year, breaching the $3 mark for the first time in seven years. However, the asset has lost substantial footing over the last few months. Despite the ongoing struggle, there is a possibility that XRP will reclaim the $3 mark very soon. Let’s discuss.
Is XRP Gearing Up For A Big Rally?
XRP and the larger cryptocurrency market could experience a big rally over the coming weeks if the Federal Reserve rolls out an interstate rate cut after today’s Federal Open Market Committee (FOMC) meeting. According to CME FedWatch, there is an 87.6% chance of a 25 basis point interest rate cut. Another rate cut could lead to a massive boost in investor sentiment. Market participants may begin to redirect funds into risky assets as borrowing becomes easier. However, XRP’s price could consolidate or face a correction if an interest rate cut is not announced.
Apart from the possible interest rate cut, XRP saw the launch of a few spot ETFs earlier this year. The bearish market tone may have kept ETF inflows at bay. However, ETF inflows may kick off over the coming weeks. ETFs have played a major role in Bitcoin (BTC) and Ethereum (ETH) hitting new all-time highs. A similar pattern may emerge for XRP as well.
Also Read: XRP ETFs Hit $1 Billion, But Price Continues To Struggle
Additionally, many anticipate Bitcoin (BTC) to enter another bullish phase over the coming months. Grayscale and Bernstein both anticipate BTC to hit new peaks in 2026. BTC hitting a new all-time high could propel XRP to a new peak as well.