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XRP Hits New All-time Highs – Road to $15 Looks Realistic
The Ripple effect has taken over the market as XRP’s price has skyrocketed to new all-time highs, leaving investors with a strong sentiment that the crypto asset is set for an unprecedented rally to $15. After months of consolidation below $2.6 resistance, XRP’s price has finally made its grand market surge, setting a significant milestone in the cryptocurrency space.
The recent price action is seen as a crucial factor, contributing to a massive 55% increase in just one month and a staggering 490% rise in the past year. As XRP’s on-chain activities continue to display an upward trajectory, investors are now fixated on the possibility of a 4-5x rally in the coming weeks.
As regulatory policies become increasingly favorable for the asset, institutional interest has picked up pace significantly. This surge in volume has fueled the price action, further solidifying its bullish momentum. The Genius Act bill signed into law by U.S. President is seen as another catalyst behind this sudden and dramatic price increase.
A surge in open interest and trading volume has been recorded, with data revealing a 135% spike in just a few days. This has fueled the narrative that XRP’s current trajectory could potentially see it touch $15 before any significant correction occurs.
It is imperative to keep in mind that past market action does not guarantee future performance. However, given the circumstances, crypto experts have pointed to similar price actions that led to XRP trading at around $3.45 and then crashing to its low of $1.40. If history repeats itself, we might see a significant correction before a potential rally towards the target range.
Source: usethebitcoin.com
