XRP Shoots Up Over 6%

The global crypto market cap has surged to $2.93 trillion, marking a 6.29% increase in the past 24 hours, with Bitcoin edging closer to the $95,000 mark.

The global crypto market cap has surged to $2.93 trillion, marking a 6.29% increase in the past 24 hours. Bitcoin is now edging closer to the $95,000 mark, and altcoins are also making strong gains, with most of the top 10 coins recording significant gains.

As cryptocurrency prices continue to rise rapidly, investors are becoming increasingly interested in crypto ETFs. These ETFs would allow investors to gain exposure to the digital asset markets in a more diversified and accessible way.

Earlier this week, there was a key development in the crypto space as SEC Chair Paul Atkins pledged to protect investors from fraud, keep politics out of financial regulation, and lay a solid foundation for digital asset oversight. This comes as investors are hopeful that Atkins will help bring an end to the long-running Ripple case by dropping the SEC’s appeal.

After a recent surge that saw XRP price soar to $2.50, sparking speculation of a potential rally to $3.50, the token encountered selling pressure, leading to a slight pullback from those highs.

However, the broader bullish trend remains intact, and more crypto ETF applications were filed, which could further propel XRP price toward new milestones.

XRP price rose more than 6% on Tuesday, April 22, reaching a high of $2.25. The surge in price comes amid growing interest in Ripple’s ongoing legal battle and an increase in crypto ETF applications. These factors could help XRP reach its all-time high of $3.55, although the price is likely to fluctuate between $1.70 and $3 due to price volatility.

In other developments, 12 applications for an XRP ETF are currently being reviewed. It is worth noting that major financial institutions like BlackRock and Vanguard have yet to submit their applications. Analysts suggest that the SEC could approve several XRP ETFs at once, similar to how it handled Bitcoin ETFs. A decision on these applications is expected within the next 180 days.

"Soon #Vanguard 🚢 and #BlackRock 🪨 will be applying for their own $XRP TRUST ETFs.

They are going to be HUGE applications with massive institutional interest from the start.

Don't sleep on $XRP in 2024. 👀"

XRP Is Set For Breakout

One crypto analyst, who is known on Twitter as Dark Defender, is saying that another leg of the correction in XRP could be the final one before a large rally.

According to the analyst, XRP has hit a key target of $2.1937 as expected and bounced back, which is a sign that the wave structure is playing out. He says that traders should watch $1.8815 as a critical support level, while $2.22 and $2.40 are the key resistance points to break for a bigger move upward.

The analyst adds that XRP’s long consolidation is now over and it is closer to an extreme bull run.

"Another leg of the correction and it will be the last one.

We hit the $2.1937 target and bounced like expected.

Still no sign of a lower low and we are holding at a key fib level.

Keep an eye on $1.8815 for support.

We need to slice through $2.22 and $2.40 for a bigger move up."

XRP is currently trading at $2.24, up more than 7.8% in the past 24 hours.

Another analyst, Ali Martinez, shared that XRP may be forming an inverse head and shoulders pattern, which could lead to a bullish breakout to $2.70.

"Is XRP forming an Inverse Head and Shoulders Pattern?

An interesting observation on the 4H chart of XRP/USDT.

We may be seeing the formation of an Inverse Head and Shoulders Pattern, with the neckline at $2.06. A breakout above the neckline could propel XRP to $2.70."

A third analyst, Diana, predicts that XRP could hit $25 as early as January 2026. She adds that there are three possible scenarios for XRP depending on how key factors turn out.

In a slow-growth case, it could rise to $10, with a 300% gain. If conditions are more favorable, it could soar 600% to $17.50. And in the most bullish scenario, it could surge to $27.50, a massive 1,000% increase.