XRP’s Wild Ride: From Crypto Catastrophe to Billionaire’s Darling 🚀

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In a world where financial stability is as elusive as a sober banker on Bonus Day, XRP price appears to be staging a comeback that would make even the most jaded crypto enthusiast raise an eyebrow. Bulls, those indefatigable optimists of the financial jungle, have managed to defend a key support level, transforming it into a veritable trampoline for a potential ascent to the lofty heights of $3.8. 🎯

  • XRP price, like a drunken sailor, stumbled upon a key support level and miraculously rebounded.
  • The token has been waltzing within a multi-month descending triangle, a pattern as bearish as a grizzly in a china shop.
  • A successful breakout could catapult XRP towards a 39% rally, a feat as ambitious as a politician keeping a promise.

According to the ever-reliable data from crypto.news, XRP (XRP) was trading at $2.79, a modest 3.1% increase in the past 24 hours and a whopping 56% surge from its lowest point this year. 🚀

The token’s market cap stood at a staggering $166 billion, while its trading volume soared 70% higher than the previous day. This resurgence suggests that demand from spot traders is accelerating, fueled by a renewed sense of bullish sentiment that could make even a pessimist crack a smile.

Is XRP price poised for more gains? 🤔

XRP’s recent gains came as bulls valiantly defended the $2.70 support level, a zone that has served as a crucial support area since mid-July. Analysts, those modern-day soothsayers, believe that XRP must hold this level to sustain a potential rebound in the coming days.

A cursory glance at the daily chart reveals that the XRP price has been meandering within a descending triangle pattern for the past seven weeks.

For the uninitiated, this pattern, which typically hints at a sustained bearish trend, is formed by a series of lower highs converging toward a horizontal support level. In XRP’s case, the $2.70 level has acted as the base of the pattern and serves as a critical support zone for the token’s price.

Based on this pattern, the token’s price could now be targeting a move to $2.96, which represents the most recent lower high within the pattern.

If bullish momentum remains intact, a breakout above this level could trigger a rally toward $3.88, the projected target based on the height of the triangle. At press time, the target level lies 39% above the current price level.

Multiple bullish catalysts in play 🎰

Several recent catalysts could act as a tailwind for the bullish rally.

First, the main catalyst for XRP price this month will be the October deadline for the U.S. Securities and Exchange Commission to greenlight some of its ETFs. As such, the token may benefit from the positive sentiment among investors who anticipate approval now that the odds have increased to over 80%.

Another factor that could support XRP gains is the renewed interest gained from whales recently.

During the two-week market correction XRP faced earlier, whale wallets reportedly purchased over 340 million XRP, equivalent to roughly $962 million, while exchange outflows climbed by $268 million.

This suggests major players could be quietly accumulating XRP, a move that could drive interest among retail traders who closely monitor on-chain whale activity as a signal of potential bullish momentum ahead.

Additionally, institutions also seem to be eyeing XRP. According to an earlier report from crypto.news, Japan-based gaming company Gumi, which is publicly listed and backed by SBI Holdings, has revealed plans to acquire around $17 million worth of XRP for its corporate treasury. 

This development highlights growing recognition of XRP not just as a speculative asset, but also as a long-term store of value for enterprises.

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2025-09-02 10:41