XRP Price Forecast: ETFs Continue Purchasing as XRP Surpasses $2.13 – Will the Next Target Be a New Record High?

XRP has surged by 10% over the last 24 hours as a rise in trading activity ignites fresh bullish momentum.

A breakout beyond the $2.13 mark and out of a significant high-probability pattern bolsters a bullish XRP price forecast in the near term.

Trading volumes skyrocketed by 130% in just one day, with $7.8 billion worth of XRP exchanged, which accounts for 5.5% of the token’s circulating market capitalization.

This increase indicates strong buying interest and suggests the potential for a short squeeze to occur.

As reported by CoinGlass, $438 million in XRP short positions were liquidated yesterday as the cryptocurrency markets surged back to life.

In the meantime, XRP’s ascent drove short liquidations to $24 million, marking the highest level recorded since November 16 and the sixth highest short squeeze in the last six months.

Notably, XRP’s gains far outpaced those of other altcoins during this timeframe. At the moment, Ethereum (ETH), Solana (SOL), and BNB Coin (BNB) have seen price rises of 1.7%, 1.7%, and 0.9%, respectively.

XRP Price Forecast: Positive Momentum Grows as XRP Achieves 6-Day Winning Streak

Significant inflows into XRP-related exchange-traded funds (ETFs) may have been instrumental in influencing the token’s recent price movements.

Source: TradingView

Data from SoSoValue indicates that the total assets managed by these funds have escalated from $861 million to $1.2 million in just one month, while XRP ETFs have yet to record their first day of positive net outflows since the initial fund was launched in the United States.

The daily chart reveals that XRP has been on an upward trajectory for six consecutive days and has broken free from a bullish falling wedge pattern.

The Relative Strength Index (RSI) is already approaching overbought levels following this significant spike, signaling increasing positive momentum.

A movement towards $3 appears quite probable, provided the price remains above the 200-day exponential moving average (EMA).

As altcoins begin to rebound, leading crypto presales like Bitcoin Hyper ($HYPER) are set to capitalize on this trend. This initiative harnesses the capabilities of the Solana blockchain to introduce the first genuine Bitcoin L2.

Bitcoin Hyper ($HYPER) Secures Over $30M to Initiate a New Chapter for BTCFi

Bitcoin Hyper ($HYPER) integrates Solana’s low transaction fees and rapid settlement speeds into the Bitcoin ecosystem via its highly efficient layer-2 scaling solution.

BTC holders will now have the opportunity to access premier DeFi applications to earn yields, stake, and lend their tokens securely and affordably.

Developers can effortlessly deploy these dApps and no longer need to compel investors to transfer their BTC tokens out of the original Bitcoin blockchains to utilize them.

As leading wallets and exchanges adopt this solution, the value of its native asset, $HYPER, is expected to increase swiftly. With $30 million in its reserves already, the Hyper L2 is rapidly advancing its ambitious roadmap.

To purchase $HYPER, simply visit the official Bitcoin Hyper website and connect a compatible wallet (e.g., Best Wallet).

You can either exchange USDT or SOL for this token or use a bank to finalize your purchase.

Visit the Official Bitcoin Hyper Website Here

The post XRP Price Prediction: ETFs Continue Acquiring as XRP Surpasses $2.13 – Is the Next Target a New All-Time High? appeared first on Cryptonews.