XRP price is making waves in the crypto market today, currently trading at $2.90 after a 5% daily surge and a 28% gain over the past seven days. The rally accelerated after the recent ceasefire between Israel and Iran, helping XRP capture nearly 50% gains in just a short time.
Why Is XRP Going Up Today?
The XRP price rally is riding alongside Bitcoin’s explosive move, with BTC recently hitting an all-time high of $121,000. But XRP’s rise stands out due to a major milestone: it has overtaken Tether (USDT) to become the third-largest cryptocurrency by market cap.
- XRP market cap: $172.79 billion
- USDT market cap: $159.55 billion
This significant move has triggered massive interest across social and trading platforms, sparking renewed investor confidence.
Ripple’s Utility and On-Chain Strength Back the XRP Rally
According to the latest Ripple news, the surge isn’t just hype. Blockchain analytics firm Santiment reported a record number of wallets holding over 1 million XRP, suggesting growing accumulation by whales and institutions.
Experts point to Ripple’s utility in global transactions as a key reason behind XRP’s rise. As banks shift away from SWIFT, Ripple Labs estimates XRP could handle up to 20% of SWIFT’s transaction volume, potentially reaching $30 trillion.
This utility-based narrative is fueling long-term optimism in XRP as a faster, cheaper cross-border settlement tool.
XRP Price Prediction: Can XRP Hit $5 This Month?
A prominent analyst on X (formerly Twitter) believes that XRP is building enough momentum to break past the $3.40 all-time high, entering price discovery mode.
“XRP has flipped the red resistance into support. A breakout toward $5 in July looks realistic,” tweeted @Shawnmark7899.
The bullish structure on the chart is supported by:
- High trading volumes
- Positive technical indicators
- Overall market tailwinds from BTC and ETH
If Bitcoin and Ethereum continue rallying, the XRP price could surge to $5 before the end of the month.
Moreover, the chart suggests that, with strong trading volume and positive indicators, the XRP price continues to stand out as one of the leading tokens in the market.
If broader market conditions favor a rise in Bitcoin and Ethereum surpassing their former highs, an extended rally could even propel XRP price toward $5 before the end of July.
On the downside, a retracement to the $2.55 – $2.60 range is possible, with technical warning signs like RSI is overheated and CMF saw a decline. If retracement occurs, it would present a potential buying opportunity for investors looking to add to their positions.
