XRP Price Eyes $4: Key Developments That You Need To Know
The cryptocurrency community is abuzz with excitement as the XRP price continues to make headlines. While the Ripple ecosystem and the XRP price witness major collaborations and integrations, the token is setting the stage for a bullish ascendance.
The official settlement of the prolonged XRP lawsuit has been a major catalyst for the prevailing positive momentum surrounding the token. Apart from this regulatory clarity, many other developments have also played a crucial role in driving XRP’s price upwards. This article explores the key developments behind the Ripple token’s ambitious price targets.
XRP Price Aims for $4
At press time, the XRP price is trading at $3.01, down by 0.28%. Despite a 3.5% dip over the past month, the token has seen an increase of 4.5% in a week. The 24-hour trading volume, currently at $6.97 billion, is up by 8.5%. With a market cap of $179.44 billion, XRP is ranked third on CoinMarketCap.
Despite the token’s current volatility, analysts and industry experts remain optimistic about XRP’s potential uptrend. For instance, crypto analyst Maxi predicted that the Ripple coin is poised to hit a new all-time high of $4 in the near term.
Interestingly, the analyst identifies $2.6 as XRP’s support level and $3.4 as its critical resistance level. While the coin has already surged past its support zone and is trading near the resistance point, the analyst remains optimistic about its potential movement. If XRP manages to soar past $3.4, the token’s next targets will be $3.6 and $3.8. Subsequently, the token will rally up to an ambitious high of $4.1, said the analyst.
Key Developments
XRP Lawsuit Settlement
Earlier this month, Ripple and the SEC jointly filed to withdraw their appeals, paving the way to the final settlement of the prolonged lawsuit. On August 22, the Second Circuit Court of Appeals in the US approved the filing, thus putting an end to the Ripple lawsuit.
This has brought regulatory clarity on the token, sparking enthusiasm within the Ripple community. It removes a major obstacle to the crypto’s growth, allowing it to focus on more institutional adoption and further developments.
Significantly, this regulatory clarity is set to have a positive impact on the price, as investors are becoming increasingly confident on the crypto. As the market responds to this newfound clarity, the XRP price is likely to see increased demand and thereby reach foreseen highs.
Bay Miner’s Mobile Cloud Computing Platform to Empower XRP Mining
In the latest development, BAY Miner has launched a mobile cloud computing platform to empower users to mine cryptocurrencies like BTC, ETH, and XRP. By leveraging cutting-edge cloud technology and intelligent computing power allocation, the platform optimizes mining efficiency and boosts revenue potential. This development is expected to boost the XRP price. By providing a more accessible and efficient way to mine XRP, the platform is likely to increase demand for the token, driving up its price.
XRP ETF Odds Increase
While more and more asset managers are filing for an XRP exchange-traded fund, the odds for its SEC approval are on the rise. According to Polymarket, the odds for XRP ETF approval in 2025 has grown to 87%. As the likelihood of ETF approval grows, investors are becoming increasingly optimistic about the Ripple coin’s potential uptick to $4 and beyond.
Beyond these major developments, XRP is also experiencing increasing adoption and integration across various platforms. These partnerships and integrations are expanding the crypto’s use cases and presence, which is likely to further drive its demand and growth.
