Amid a broader cryptocurrency market recovery following the FOMC meeting, XRP price is showing strength, rising to $2.20, with daily trading volumes surging by 80% to $4.35 billion. This indicates that traders are showing increased interest in Ripple’s cryptocurrency as discussions surrounding Ripple’s reserves heat up. If the broader crypto market continues to support this trend, further gains could be expected from here.
XRP Price Targets of $3, $4.4, and $6.3
Prominent crypto analyst Dark Defender has provided an updated outlook on XRP price movement. In his recent analysis, the analyst stated that Ripple’s cryptocurrency could face immediate resistance at $2.222 and $2.36.
He also noted that the XRP correction to $2.13 has completed, as it reverses its trajectory upwards, avoiding a massive $60 million in XRP liquidation. Dark Defender unveiled insights into the structure of the 5th Monthly Wave, breaking it down into five sub-waves. The analysis suggests an initial surge to $3, followed by Wave 3 and Wave 5 targets of $4.4 and $6.3, respectively, in the short term, as shown in the image below.
Furthermore, there has been significant XRP whale activity recently. Recent blockchain transactions have highlighted large XRP transfers involving Ripple whales, capturing the market’s attention. Two notable transactions were recorded:
• 70 million XRP valued at approximately $148.3 million.
• 300 million XRP worth around $633.7 million.
Both transactions were directed to unknown wallets, fueling speculation about potential price implications for XRP.
Ripple Reserve Discussions Heat Up
Crypto attorney Fred Rispoli has pointed out an important development for XRP. According to newly passed legislation in New Hampshire, if XRP achieves a $500 billion market capitalization within this year, it will qualify for inclusion in New Hampshire’s digital asset strategic reserve by 2026.
With a $500 billion market cap, the Ripple price could be trading around $8.5. Many analysts have already predicted a rally beyond $10 by the end of 2025. Currently, XRP price is trading at $2.17 with a massive $4.35 billion in trading volumes.
Coinglass data shows that XRP open interest has risen by 3.28% to $3.72 billion. Additionally, XRP options open interest has surged by 28%, while options trading volume has increased by 20% to over $1 million.
