XRP Price Eyes Quick $6.3 Rally Amid Ripple Reserve Talks – Crypto News – Crypto News
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XRP Price Eyes Quick $6.3 Rally Amid Ripple Reserve Talks – Crypto News

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Amid broader crypto market recovery following the FOMC meeting, XRP price is showing strength, moving to $2.20 levels with daily trading volumes surging 80% to $4.35 billion. This shows that traders are showing greater interest in the Ripple cryptocurrency as discussions around Ripple reserves are catching heat. If the broader crypto market supports, we can see further gains from here onwards.

XRP Price Targets of $3, $4.4 and $6.3

Prominent crypto analyst Dark Defender has provided an updated outlook on XRP price trajectory. In his recent analysis, the analyst stated that the Ripple cryptocurrency could encounter immediate resistance at $2.222 and $2.36.

He also added that the XRP correction to $2.13 has completed, as it reverses trajectory to the upside, avoiding massive $60 million of XRP liquidation. Dark Defender unveiled insights into the 5th Monthly Wave’s core structure, breaking it 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 per the image below.

Source: DarkDefender

Furthermore, there’s huge XRP whale activity reportedly recently. Recent blockchain activity has highlighted significant XRP transactions involving Ripple whales, capturing market attention. Two notable transfers 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 XRP price implications.

Ripple Reserve Discussions Catch Up Heat

Crypto attorney Fred Rispoli has pointed out a significant development for XRP. According to newly passed legislation by New Hampshire, if XRP achieves a $500 billion market capitalization within this year, it would qualify for inclusion in New Hampshire’s digital asset strategic reserve by 2026.

For a $500 billion market cap, the Ripple price could be trading somewhere around $8.5. Many analysts have already been predicting a rally beyond $10 by the end of 2025. As of now, XRP price is trading at $2.17 with a massive $4.35 billion in trading volumes.

The Coinglass data shows that the XRP open interest has surged 3.28% to $3.72 billion. Additionally, the XRP options open interest has surged 28% while the options trading volume is up 20% to over $1 million.

The post XRP Price Eyes Quick $6.3 Rally Amid Ripple Reserve Talks appeared first on CoinGape.

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