XRP (XRP) has surged by more than 8% in the past 24 hours, as the crypto market rallied strongly during the weekend.
Trading volumes have jumped by 55% during this period and currently sit at $4.7 billion. This implies that 5% of the asset’s circulating market cap has exchanged hands, indicating rising buying pressure.
Short liquidations in the futures market have spiked to $665 million, nearing the levels seen in late August, back when the U.S. Securities and Exchange Commission (SEC) released a set of new rules for the crypto space.
Ripple Keeps Pressing Forward to Build Its Blockchain-Based Payments Ecosystem
A massive short squeeze appears to be unfolding as most crypto assets are breaking past key resistance areas.
That said, XRP is outpacing most other tokens in the top 10 during these last 24 hours, indicating that a project-specific catalyst could be further fueling the rally.
Ripple continues to advance toward creating an entire ecosystem that facilitates enterprises payments across the globe and has made important advances in the past months including securing key licenses, setting up a prime brokerage business, launching its native stable asset, and more.
Just a few days ago, Ripple released a new developer kit that can be used to create AI agents that rely on the XRP Ledger and its native stablecoin, Ripple USD (RLUSD), to make payments.
Stripe, one of the world’s largest digital payments platform, would act as one of the supporting infrastructure for this new use case. The integration could drive higher volumes toward the XRP Ledger at a point when the agentic payments market is starting to boom.
In addition, an ongoing vote on two key proposals for the XRP Ledger continues to advance. These proposals would create the necessary framework to launch a lending protocol powered by this blockchain that would use XRP as collateral and RLUSD as the settlement asset.
Ripple Price Forecast
Every new Ripple analysis as it publishes, today's technical signal and key levels, live price — on one page.
See all Ripple forecastsHigher Adoption Could Push XRP To a New All-Time High as a Bullish Cycle Begins
Ripple USD’s market cap continues to fly as a result of the network’s growing use cases and adoption levels, currently sitting near the $2.4 billion mark and already ranking within the top 10 stablecoins in the crypto space.
All of these are bullish factors that should help drive XRP to a new all-time high during the next bullish phase — which we believe has begun already.
Turning to the daily chart, XRP has broken out of a flag pattern that we have been tracking for weeks. The significant downward slope of the setup indicated that sellers were outpacing buyers in terms of volume — but that has changed now.
A break above $1.50 would confirm that XRP is on track to hit $1.80 in the near term. A supportive U.S. Securities and Exchange Commission (SEC), paired with the project-specific tailwinds cited above, could set the stage for an explosive rally.
Meanwhile, this post-FOMC breakout indicates that the market’s interest in cryptos has come back despite a relatively challenging macro backdrop. We anticipate a mid-term target of $2.10 based on the flag’s pole size, which means a 41% upside potential for XRP.
