XRP continues to maintain a robust position around the $3 mark, owing largely to Ripple’s expanding partnerships and a strong fundamental backdrop. Currently priced at $3.00, XRP boasts a market capitalization of $179.2 billion, reflecting an increase of 8.4% over the past week. This performance stands in contrast to Bitcoin, which is trading at $112,532.12 with a market cap of $2.24 trillion, and Ethereum, priced at $4,333.70 with a market cap of $523.3 billion, both of which have also seen gains of 3.2% and 0.9% respectively.
Analyst Dark Defender has confirmed that XRP achieved its short-term target of $3.01, based on a precise wave structure forecast made earlier this month. According to this analysis, Wave 3 is now complete, and a slight pullback in Wave 4 is anticipated before XRP tests a critical zone between $3.07 and $3.13. A daily closing price above $3.13 would negate Wave E, potentially allowing for further price advancements. Conversely, should XRP fail to break through this resistance, a retracement toward $2.74 remains a possibility, supported by Fibonacci retracement levels.
In other noteworthy developments, Polymarket has reported a surge in odds for Ripple’s ETF approval in 2025, now standing at 93%. The trading platform Coinglass revealed that over the past 24 hours, $6.69 million in XRP liquidations occurred, with short positions accounting for $4.9 million. This indicates that bearish traders were caught off guard by the recent price rally.
On the partnership front, Ripple has strengthened its collaboration with BBVA, following the Spanish bank’s announcement to integrate Ripple Custody for new retail crypto services in Spain. This initiative will encompass Bitcoin and Ethereum trading and custody, marking a significant step as European financial institutions adapt to the Markets in Crypto-Assets (MiCA) regulations designed to foster compliant digital asset services. Ripple’s custody platform is expected to enhance BBVA’s infrastructure and builds on earlier collaborations in Switzerland and Turkey, along with joint initiatives focused on cross-border payments. This move comes shortly after BBVA was appointed as a custodian for clients of Binance, highlighting its increasing influence within the global cryptocurrency infrastructure.
