XRP hits six-year high after 20% surge
XRP soared over 20% in the last 24 hours, reaching $3.61 — its highest price in more than six years.
This rally was fueled by institutional buyers and breakout traders, as three massive volume surges punctuated a session of intense market activity, News.Az reports, citing CoinDesk.
The move followed weeks of accumulation near the $3 mark and came with price volatility nearing 20%, signaling strong conviction behind the rally.
Per CoinDesk Analytics, over 200 million XRP changed hands during each of the breakout windows at 05:00, 08:00, and 21:00 UTC, propelling the token past key resistance at $3.52–$3.53.
The $3.29–$3.30 zone served as a high-volume base throughout the session, with bulls repeatedly absorbing sell pressure and defending their ground.
“Short-term price targets range from $2.00–$2.17 on the downside to $2.65–$3.00 on the upside,” said Ryan Lee, Chief Analyst at Bitget.
“Long-term forecasts suggest $4.20–$10+ by 2030 if Ripple capitalizes on payment adoption, though $2.50 remains a pivotal level to watch for the next breakout or breakdown,” Lee added.
Lee noted that XRP’s medium-term trajectory could extend to $5.89, depending on ETF approvals and regulatory clarity. However, technical indicators remain mixed, with a neutral RSI and bearish MACD pointing to potential near-term consolidation.
Open interest in XRP derivatives topped $10 billion for the first time since 2021, while funding rates across major exchanges flipped positive, suggesting aggressive long positioning.
XRP has gained nearly 70% in the past 30 days, emerging as the strongest token among all majors. And it might just be getting started.
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