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Information about XRP (XRP)
Ripple (XRP) is a cryptocurrency created in 2012 by Ryan Fugger, Jed McCaleb, and Chris Larson. The Ripple project was developed to enable users to use financial institutions, banks, PayPal, and other services at meager costs and lightning-fast processing speed.
Ripple is a distributed peer-to-peer payment system that is open source. Ripple, like Bitcoin, uses blockchain technology to provide secure payment solutions that assist in the settlement of financial transactions between banks at meager costs.
Furthermore, the benefit of Ripple is that transactions are quick and do not require time to authenticate. Simultaneously, the Ripple platform enables users to trade everything from currency to gold to cryptocurrencies.
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The cryptocurrency market saw a decline of 1.56%, reducing the global market cap to 2.66 trillion USD. Bitcoin continues to dominate with a price of 83,781 USD, experiencing a minor drop of 1.35%.
Among top altcoins, Solana (SOL) and Avalanche (AVAX) stood out with significant weekly gains, 11.72% and 15.64% respectively. XRP also saw a 3.96% increase, now priced at 2.14 USD.
Standard Chartered predicts XRP could rise to 12.50 USD by 2028, driven by ETF approvals. Regulatory changes and its expanding role in the tokenization market are expected to enhance XRP’s position in institutional finance.
Standard Chartered forecasts that XRP will rise 500% to 12.50 USD by 2028, surpassing Ethereum and becoming the second-largest digital asset.
Key drivers for this increase include regulatory momentum, expected ETF approvals, and increased institutional adoption of XRP.
Analysts predict significant market inflows following a potential SEC approval for an XRP ETF in Q3 2025, indicating XRP’s market cap would exceed that of Ethereum.
Due to uncertainties surrounding President Trump’s tariff policies, the likelihood of a Federal Reserve rate cut has risen, now at 39.8%. Traders are actively speculating on the Fed’s May 7 meeting outcomes.
XRP is exhibiting bullish signs as it navigates consolidation patterns. Currently priced between 2.003 USD and 2.011 USD, XRP may experience continued upward movement if it surpasses resistance at 2.12 USD.
Solana (SOL) has increased by 4.85% to 124.34 USD, resulting in substantial liquidations for short sellers. Total liquidations for SOL hit 14.69 million USD, dwarfing the 5.22 million USD recorded for XRP.
Short sellers in SOL faced serious losses, totaling 12.53 million USD, while those in long positions only lost 2.16 million USD. In comparison, XRP traders lost 1.84 million USD from long positions and 3.38 million USD from shorts.
The recent movements indicate a shift in trader sentiment towards bullishness, prompting more traders to consider long positions. Concurrently, the overall cryptocurrency market cap saw a rise of 1.41% within the past 24 hours.
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