XRP is holding strong momentum after briefly touching $3.09 on August 23 before consolidating near $3.02. The move, backed by unusually high institutional trading volumes, has analysts watching the $3.30 resistance level as the key to unlock ambitious $5–$8 targets.
XRP Flips BlackRock
The standout moment came as XRP’s market cap hit $179 billion, overtaking BlackRock’s $177 billion. While BlackRock manages $10 trillion in assets, XRP at just $3 a coin managed to “flip” the Wall Street giant, sparking debate across financial circles. This wasn’t a meme rally; it was a showcase of how digital assets with real-world utility can challenge traditional finance.
Why XRP Price is Surging?
Several factors have converged to fuel XRP’s rise. Ripple recently closed its long battle with the SEC, giving the token rare regulatory clarity. On top of that, ETFs tied to XRP are lining up for approval in October, Ripple is progressing toward a banking license, and its stablecoin RLUSD is in the pipeline. Together, these developments give institutions stronger reasons to bet on XRP as a long-term payments solution.
Moreover, XRP price move also came after dovish comments from Federal Reserve Chair Jerome Powell at Jackson Hole. His remarks sparked hopes of September rate cuts, triggering a fresh wave of risk-on sentiment in global markets. Digital assets were big winners, and XRP, with its combination of utility and legal clarity, stood out as one of the top beneficiaries.
Ripple (XRP) Price Forecast
Trading activity surged during the rally, with daily volumes hitting nearly 59 million, almost double the average of 33 million. Strong demand has formed around the psychological $3.00 level, confirmed by repeated rebounds.
Chart watchers point to a double-bottom and symmetrical triangle formation, suggesting XRP is building momentum under resistance at $3.08–$3.09. A clean breakout above $3.30 could set the stage for a powerful rally toward multi-year highs in the $5–$8 zone.
For now, traders are watching whether XRP can hold above $3.00 during dips and sustain buying pressure. With ETFs, a new stablecoin, and Ripple’s banking ambitions in the mix, XRP’s flip over BlackRock may be less of a one-time event and more of a sign that blockchain finance is edging closer to rivaling legacy giants.
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FAQs
It’s a symbolic moment showing a digital asset’s market cap, backed by real-world utility, briefly surpassing a traditional finance giant.
Dovish comments from the Federal Reserve Chair Jerome Powell sparked risk-on sentiment in global markets, benefiting digital assets like XRP.
Likely—if spot ETFs get approved and Ripple’s banking partnerships expand, XRP could surpass its $3.66 ATH this year.
