XRP has surged to $2.96, marking its highest price point in four months. The rally is primarily driven by accelerated new wallet creation and heightened social media engagement, with XRP-related discussions now capturing over 5.5% of all cryptocurrency conversations.
Technical indicators highlight a significant momentum shift, as XRP breached both its 50-day and 200-day simple moving averages. Concurrently, trading volume spiked 103% to $16.23 billion, reinforcing bullish market sentiment.
Market analysts suggest potential upward targets of $3.40 upon sustained breakout above $2.96, with longer-term projections eyeing $5 and possibly $7 should the rally maintain strength. The sustainability of this upward trajectory, however, remains under observation amid current enthusiasm.
XRP’s price surge and social dominance signal a pivotal market moment, with its performance likely to influence broader sentiment and movements among mid-cap cryptocurrencies. Increased retail participation continues to feed the asset’s momentum.