XRP price has stayed in the red today but recent market developments indicate a potential reversal trend for the crypto ahead. Notably, top experts have set the short-term target for the crypto to $4, spotlighting a crucial support that the crypto must hold. In addition, Ripple CEO Brad Garlinghouse highlighting a flurry of positive developments has further fueled the market sentiments.
Ripple CEO Brad Garlinghouse Highlights Key Developments
Ripple CEO Brad Garlinghouse has shared a slew of positive developments for the blockchain firm, sparking optimism for a potential XRP price rally ahead. According to Ripple’s Q4 Markets Report, XRP price surged 280% in Q4, driven by strong demand on major exchanges.
Besides, the report also highlights significant institutional interest, with WisdomTree and Coinshares filing for a spot XRP ETF. Simultaneously, Canadian asset manager Purpose Investments has recently proposed to launch the first XRP ETF in the world.
Regulatory Shift Can Further Push XRP Price
Meanwhile, Garlinghouse noted that the new US administration’s pro-crypto stance has paved the way for innovation and growth. The CEO also emphasized the XRP Ledger’s growing adoption, with notable partnerships and tokenization initiatives. Recently, former Ripple alumni Sean McBride also highlighted Ripple’s strategy to boost XRPL revenue.
Additionally, he also highlighted Ripple’s stablecoin RLUSD launch and its market cap hitting $100 million in a month. With the US SEC’s regulatory overhang easing, XRP price is poised for a potential rally.
Experts predict a continued surge in XRP’s value, driven by increasing institutional demand and favorable market conditions. As the crypto market enters a new era of growth, XRP is well-positioned to capitalize on the trend. Notably, the report also showed that Ripple’s XRP holdings surged from 4.43 billion on September 30, 2024, to 4.48 billion on December 31, 2024.
What’s Next For XRP Price?
XRP price was down 1.3% and exchanged hands at $3.04, while its one-day trading volume fell 13% to $4 billion. Notably, the crypto has touched a 24-hour high and low of $3.11 and $3.01, respectively. However, the token’s Relative Strength Index (RSI) stood at 57, indicating a strong momentum ahead for the asset.
XRP Price
Amid this, renowned market expert Dark Defender has shared a bullish forecast, which has gained notable attention from the market participants. According to the analyst, Ripple’s native crypto should hold the key support of $3.07 to maintain its upward run ahead.
Source: Dark Defender, X
However, Dark Defender noted the short-term target for the crypto stands at $4 “with Sub-Wave 5.” Notably, this bullish forecast also echoes similar sentiment of other experts, who recently predicted Ripple’s native crypto to hit $5 soon.
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