Why XRP Is Going Up Today: Key Drivers and $XRP Price Prediction

Why XRP Is Going Up Today: Price Analysis and $XRP Price Prediction

The cryptocurrency market is buzzing with Ripple XRP news today, as XRP witnessed a significant price surge. Currently trading at $3.10, the token recorded a 13.13% intraday jump, pushing its market cap to $178.7 billion and its 24-hour trading volume to $11.51 billion. Following a dip to $2.7405 on January 27, 2025, XRP has rebounded with a weekly increase of 1.16% and an impressive 42.03% surge over the past month.

Source: CoinMarketCap

Why Is XRP Up Today? Regulatory Wins and Whale Accumulation

After XRP price drop to $2.7405 on January 27, the coin finally One of the primary factors driving XRP's recent surge is Ripple's expansion in the U.S. regulatory landscape. Ripple recently secured money transmitter licenses in Texas and New York, bringing its total state licenses to over 50. This development strengthens Ripple’s compliance framework and enhances its ability to offer cross-border payment solutions. Additionally, approval of Ripple’s RLUSD stablecoin by the NYDFS further underscores its regulatory progress and positions XRP for future growth in critical markets.

Adding to this momentum, crypto whales have shown strong confidence in XRP. According to market data analyst Ali, whales accumulated 120 million XRP during the recent price dip, indicating bullish sentiment. Whale activity often serves as a market signal of rising demand and confidence in long-term potential, contributing to today’s surge.

Furthermore, Eric Trump’s endorsement of favorable tax incentives for U.S. based crypto projects like XRP and HBAR, including zero capital gains tax, has fueled investor optimism. This policy shift, aimed at boosting domestic blockchain innovation, contrasts with a 30% tax on foreign crypto projects and underscores Ripple's potential dominance in the U.S. market.

$XRP Price Prediction: Will XRP Hit $5?

With the XRP price forming a bullish hammer candle near a key support level, analysts forecast an upward trajectory. If XRP breaks its trendline, the token could target $4.6, with the possibility of extending toward $5. This resistance zone between $4.6 and $5 will be crucial in determining whether XRP can sustain its rally.

Additionally, XRP Community Day will work as a catalyst for the XRP price rally. Set for January 28, 2025, it is a global virtual celebration highlighting XRP's innovation, utility, and growth, with sessions spanning EMEA, Americas, and APAC time zones. This pivotal event brings exciting announcements and insights that could potentially act as a catalyst for a price rally and help XRP reach $10.