TLDR
- XRP market cap reaches $184.20 billion, overtaking Citigroup and major corporations like Shopify and Verizon
- Cryptocurrency gained 12% weekly, breaking above $3.10 resistance for first time in weeks
- REX-Osprey XRP ETF expected to launch next week, driving institutional speculation and bullish sentiment
- Technical analysts identify bull flag pattern with price targets ranging from $6 to $23 levels
- XRP now ranks as 94th most valuable global asset, competing directly with Fortune 500 companies
XRP has reached a historic milestone in cryptocurrency markets. The digital asset’s market capitalization now stands at $184.20 billion, exceeding Citigroup’s valuation of $183.62 billion.
This achievement makes XRP the first cryptocurrency to surpass a major Wall Street financial institution by market value. The cryptocurrency has also moved ahead of corporate giants including Shopify and Verizon.
XRP experienced strong weekly performance with a 12% gain. The token traded above $3.10, marking its highest level in several weeks.
The cryptocurrency now holds the 94th position among global assets by market capitalization. This ranking places XRP in direct competition with established multinational corporations.
ETF Launch Drives Institutional Interest
Bloomberg analyst James Seyffart confirmed that REX-Osprey’s XRP ETF will likely launch next week. The ETF was originally scheduled to debut this week but faced regulatory delays.
This development has sparked renewed institutional interest in XRP. Traders view the ETF launch as a major catalyst for future price appreciation.
The speculation around regulated investment products has contributed to current buying pressure. Institutional investors are positioning ahead of potential fund launches.
XRP’s practical utility through Ripple’s payment network supports its valuation. Financial institutions use the cryptocurrency for cross-border transactions via On-Demand Liquidity services.
This real-world application distinguishes XRP from speculative digital assets. The fundamental use case provides underlying support for market pricing.
Technical Analysis Shows Bullish Patterns
XRP CRO identified a weekly bull flag formation in price charts. This technical pattern suggests potential continuation of the upward trend.
Key resistance sits at the $3.60 level according to multiple analysts. A break above this price could trigger accelerated buying activity.
Crypto analyst Dark Defender highlighted Fibonacci targets at $4.39 and $5.85. These levels represent logical profit-taking zones for traders.
Support levels remain at $3.01 and $2.85 based on technical analysis. These prices could provide entry opportunities during any pullbacks.
Egrag Crypto confirmed a symmetrical triangle breakout pattern. The analyst emphasized the importance of maintaining price above $3.07 for continued momentum.
XRP Price Prediction
Price projections vary widely among technical analysts. Conservative targets point to $6 if current resistance breaks successfully.
More optimistic forecasts suggest levels of $13 and $23 are possible. These predictions assume sustained institutional adoption and ETF inflows.
The $4.20 level would mark a new all-time high for XRP. Reaching this price requires strong follow-through buying and volume confirmation.
Short-term focus remains on the $3.60 resistance zone. This level has historically provided strong selling pressure during previous rallies.
