XRP is showing renewed momentum in the crypto market as several leading altcoins post steady gains. Currently, XRP is trading at $3.11 and faces a pullback along with the market, reflecting a 4.02% drop over the past 24 hours but marking a 1.53% increase for the week so far.
Trading remains active, with XRP recording a 24-hour volume of $10.18 billion. Its market capitalization stands at $190.88 billion, keeping it among the top-ranked digital assets globally.
Source: CoinMarketCap
Bitcoin’s recent surge to a new all-time high above $124,000 has lifted the broader market, benefiting major altcoins, including XRP, before facing a pullback.
XRP eyes $9.63 as bullish patterns suggest big gains
A prominent crypto analyst, Javon Marks, has highlighted striking similarities between XRP’s current price patterns and those seen during its previous bull cycle.
Marks points out that chart structures and momentum indicators suggest the cryptocurrency is positioning itself for a significant breakout.
According to his analysis, XRP’s next major target could reach $9.63, representing an impressive 188% increase from its current price.
Marks further suggested that this potential rally could just be the beginning. If the current momentum persists, XRP’s price may climb even higher.
XRP derivative market points to a potential rally
XRP’s derivatives market is showing increased activity, with trading volume surging 17.53% to $13.81 billion and open interest rising 1.84% to $8.84 billion.
Source: Coinglass
The OI-weighted funding rate at 0.0186% shows a modest bullish bias, suggesting traders expect XRP’s price to rise.
Source: Coinglass