- Recent updates to Ripple’s Custody platform enhance security and compliance, attracting institutional interest.
- A second XRP-based ETF filed by Canary Capital could boost market liquidity if approved.
- Price targets are set at $2.7276 and $3.967, with long-term potential reaching up to $11 by 2024.
Ripple (XRP) is gaining traction in the cryptocurrency market, showing signs of a potential major price surge. Over the past week, XRP has seen a slight increase of nearly 2%, reflecting broader positive market trends. As Bitcoin (BTC) continues its bullish run, other altcoins, including XRP, are also experiencing upward momentum.
Currently, XRP is trading at $0.541794 with a 24-hour trading volume of $1.04 billion. Its market capitalization sits at $30.65 billion, giving it a market dominance of 1.39%. Over the last 24 hours, XRP’s price has increased by 1.12%, suggesting steady gains as investors keep a close eye on its future movements.
Ripple’s Custody Updates and ETF Boost Market Optimism
Ripple, a leader in digital asset infrastructure, has recently introduced significant updates to its Ripple Custody platform. These updates are set to improve services for fintech and crypto businesses by enhancing security and compliance features in asset management. Such improvements position Ripple as a major player in the institutional crypto space, attracting more interest from key market participants.
Adding to the optimism, a second XRP-based exchange-traded fund (ETF) has been filed in the United States by Canary Capital. This move is being closely watched, as the approval of such ETFs tends to bring new buyers and increase liquidity in the market. If approved, the ETF could provide a strong catalyst for XRP’s price to rise, given the potential influx of institutional investments.
XRP Price Targets Set at $2.72 and $3.96
XRP has captured the attention of market participants once again, following a significant breakout at the $0.60 mark. According to a bullish forecast shared by a well-known crypto analyst, Brett, XRP’s recent price movement could signal the start of major upward momentum.
The price of XRP experienced a breakout from a symmetrical triangle pattern at $0.60, often viewed as a strong technical indicator for potential gains. Based on historical price behavior, these breakouts pave the way for sustained rallies. With XRP’s current trajectory, attention is focused on upcoming price targets of $2.7276 and $3.967, points identified as critical resistance levels.
Looking ahead, the trader emphasized that XRP’s long-term potential remains promising, with an ambitious price target of $11 by 2024 still within reach. This optimistic outlook comes amid increasing market excitement, with many viewing XRP as a potential leader in the next crypto bull run.
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