After a recent drop to $1.8, Ripple’s XRP has now reclaimed $2. XRP is up 0.4% this week. However, it continues to be red across all time frames. According to CoinGecko data, XRP is down 2.7% in the last 24 hoursThe charts for the last 14 days show an 8.3% increase and a 17.1% rise over the month before. Despite the crash in the markets over the past month, XRP’s price has risen to 51.6% from November 2024. Discuss if XRP’s rally will continue, if XRP faces a correction phase, or if XRP enters a consolidation stage.
Will XRP Continue to Rally, or Face a Correction?
Crypto market appears to be in a phase of consolidation. Bitcoin (BTC), which recently dropped to $82,000, seems to have slowed down. XRP also shows signs of consolidation around the $2.20-2.25 mark.
Ripple’s XRP coin was one of this year’s best performing cryptocurrencies. The XRP token broke through the $3 threshold for the first seven-year period, even reaching a new record. This incredible performance is most likely a result of the SEC-Ripple litigation coming to a close. The SEC vs. Ripple lawsuit was a cloud over XRP’s legal standing and posed significant challenges for its price. Now that the lawsuit is over, the asset’s legal status has been clarified.
Please Read This: XRP Just Got Wall Street Validation From Franklin Templeton
XRP may be preparing for a big rally in the months to come, fueled by ETF flows. Finally, the asset has an ETF which could result in a surge of institutional money. The macroeconomic environment must improve before the crypto market can rally. The slow economic growth and rising inflation combined with high job numbers have reduced the likelihood of an interest rate reduction in 2025. XRP won’t enter a positive phase unless economic conditions improve.
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Source: watcher.guru
