Why is the XRP Price Pumping?

The cryptocurrency market has shown resilience following dips lately, with a strong rebound across major digital assets. Among the standout performers, XRP has emerged as a notable leader in this recovery phase.

XRP price is surging as institutional interest in the cryptocurrency grows and technical indicators point to potential price targets of $10.22 and $18.22 in the short term.

The token’s rally comes amid speculation about ETF approvals, with JPMorgan predicting that $XRP ETFs could attract $3–8 billion in new investments.

As reported, XRP is emerging as a standout performer in the cryptocurrency market’s recovery phase. The token’s price has surged over 10% in the past 24 hours, fueled by renewed institutional interest and positive technical indicators.

Market sentiment around XRP has strengthened, driven by potential regulatory developments and banking sector adoption possibilities.

According to Santiment, XRP has become a trending topic due to its potential role in banking and financial transactions. Its efficiency as a bridge currency, low transaction costs, and growing utility have bolstered market sentiment.

The top trending tokens in crypto Tuesday are XRP and Ethereum, as traders show significant interest toward top caps during the rebounds:

Speculation about ETF approvals has also gained steam, with JPMorgan predicting $XRP ETFs could attract $3–8 billion in new investments.

XRP’s Bull Flag Formation Indicates Further Gains

In an update by Dark Defender, the analyst highlights XRP’s confirmation of an uptrend breakout on the monthly chart. This breakout aligns with Fibonacci levels and Elliott Wave patterns, signaling potential price targets of $10.22 and $18.22 in the short term.

A bull flag, as described, is a chart pattern that suggests continued upward momentum after a consolidation phase. Traders often view this as a strong bullish signal, reinforcing confidence in further price appreciation.

Hi all. We discussed the Weekly Bull Flag on 9 December! $XRP on the monthly chart confirmed the Uptrend Break-out Level!

The Fibonacci levels align with our Elliott Wave structures and the historical performance we experienced in 2017. XRP is expected to proceed towards… pic.twitter.com/PwE6Bjrm1L

Per CoinGecko, XRP is trading at $2.81, showing a 10.65% daily gain and a 20.66% weekly increase. If this momentum continues, XRP could reach levels above $3, a key psychological level and even its ATH of $3.84.

Surpassing its ATH would require a further surge of approximately 36.7%. Achieving this could ignite a rally to uncharted highs, setting the stage for more sustained growth.

Also Read: Here’s Why the Fartcoin Price Is Pumping

Investor Sentiment

XRP’s recent performance reflects growing interest from investors. As traders await SEC decisions and major ETF approvals, sentiment remains bullish. With increased trading volume and solid market support, XRP appears poised for continued gains.

The coming weeks will reveal whether XRP can maintain its trajectory and reach its projected milestones. For now, its strong rebound and market dynamics have solidified its place in the spotlight.

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