$XRP
$XRP Analysis: Reclaiming the Top Spot!
XRP has rejoined the market rally, surging over 4.2% to trade at $2.15 and reclaiming its position as the 4th largest cryptocurrency by market cap.
📊 Technical Snapshot:
Sustainable Growth: Unlike last week’s volatile 30% jump, today’s steady climb to $2.15 is viewed by analysts as more sustainable.
Momentum: XRP is showing strength after finding support near $2.05 following a brief rejection at the $2.35 multi-week peak.
Key Levels: A decisive daily close above $2.20 is needed to target a retest of $2.40.
Support: Immediate psychological floor sits at $2.00, with deeper support at $1.80.
🔍 Why the Move?
CLARITY Act Hype: A new U.S. Senate draft bill (the Clarity Act) proposes giving XRP the same legal status as Bitcoin and Ethereum, potentially exempting it from securities regulations.
ETF Inflows: Institutional demand remains high, with spot XRP ETFs seeing net inflows of over $28M in just the last two days.
Macro Tailwinds: Cooling U.S. inflation data (CPI dropping to 2.6%) has sparked a broader crypto market rally, benefiting high-liquidity assets like XRP.
💡 Trading Strategy (DYOR):
Bullish Outlook: Analysts from Standard Chartered maintain a long-term $8.00 target for 2026 based on increased institutional adoption.
Short-Term Risk: Watch for resistance at the 200-day EMA ($2.56); rejection there could lead to a healthy correction back to $1.90. Not financial advise.