XRP has distinguished itself by surpassing the market capitalizations of major corporations such as Shopify, Verizon, and Citigroup, positioning itself as a significant player in the global asset landscape. This remarkable achievement has sparked optimism among traders and analysts, who are highlighting XRP’s rapid growth and potential for further appreciation.
Recent data from Companies Market Cap shows that XRP’s market capitalization now exceeds those of Shopify, which enables millions of online retailers, Verizon, a telecom giant serving over 140 million customers, and Citigroup, a financial entity managing trillions in assets. This increase in valuation reflects a broader recovery in the digital asset sphere, with XRP trading above $3.10 for the first time in several weeks, following a notable 12% gain over the past week.
Market analysts have spotted a bullish trend forming, with one expert noting the emergence of a weekly bull flag pattern. The analyst has projected potential price targets of $6, $13, and $23 if XRP successfully breaks through a critical resistance level at $3.60. This prospect has heightened expectations within the trading community.
Meanwhile, anticipation is building around the potential launch of a Ripple ETF in the United States, which some believe could be a catalytic factor in XRP’s recent price surge. Bloomberg analyst James Seyffart has indicated that the REX-Osprey XRP ETF is poised for a rollout next week, although it was initially scheduled for this week but faced delays.
In terms of specific targets, crypto analyst Dark Defender highlighted that XRP is breaking through its initial weekly resistance, with targeted Fibonacci levels at $4.39 and $5.85. Traders are advised to monitor support levels at $3.01 and $2.85 to help gauge the asset’s ongoing performance.
Another analyst, Egrag Crypto, noted that XRP appears to be engaging in a breakout, referencing a symmetrical triangle pattern that suggests equal probabilities for upward and downward movements. For the bullish sentiment to take hold, a crucial follow-up with a bullish candle is necessary, ideally closing above $3.07 within the next two days. This confirmation is deemed essential for XRP to maintain its current upward trajectory, with potential for prices to rally as high as $4.20, marking a new all-time high.
As XRP continues to attract attention and speculation grows, the cryptocurrency’s trajectory remains a focal point for traders and investors alike, with many watching closely for signs of continued momentum in the coming days.
