XRP (CRYPTO:XRP) is up 20% in the last 24 hours driven by optimism in altcoins.
| Cryptocurrency | Price | Market capitalization | 24 hour trend | 7 day trend |
| Ripple (CRYPTO:XRP) | $1.74 | 99.3 billion dollars (M$) | +20% | +21% |
| Cardano (CRYPTO:ADA) | $1.08 | $38.8 billion | +10.5% | +20.5% |
| Algorand (CRYPTO:SOMETHING) | $0.3966 | $3.3B | +35.5% | +70.5% |
Trader Notes
The cryptocurrency trader Brandon Hong highlighted in a publication in x on Friday that Ripple has regained its “demand wick,” meaning the local high of $0.75 reached in 2023 when Ripple received a favorable court ruling.
The trader noted that, after breaking through the $1.10 level, XRP has reached $1.60, offering traders a new entry opportunity before attempting to mark a new all-time high, which he calls “the final boss.” ”
For his part, the renowned trader DonAlt He outlined his price targets in a Nov. 13 tweet, setting $1.90, a new all-time high, and $6.90 as possible future targets.
You can also read: Nvidia leads rise after new reports of semiconductor sanctions in China
Community News
On Wednesday, Ripple announced plans to invest in the newly rebranded Bitwise Physical XRP exchange-traded product.
The CEO Brad Garlinghouse He highlighted that XRP is positioned as “a cornerstone for those seeking resilient assets with real-world utility.”
This news coincides with WisdomTree’s filing to establish a trust entity in Delaware as a preliminary step toward launching an XRP exchange-traded fund (ETF).
An XRP ETF would mark the third major cryptocurrency ETF after those of Bitcoin and Ethereum.
Although no applications have yet been filed with the SEC, potential more favorable regulation under the incoming Trump administration is generating excitement in the broader financial industry.
Photo courtesy of Shutterstock
You can also read: Chip stocks and ETFs rally after possible easing of US restrictions on China
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