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Ripple’s token XRP has gone up by about 11% in the past week and is now holding steady around $2.6. This recent rise means the coin has gained roughly 28% so far this year. Many traders believe it could climb even higher after the FOMC meeting today, where analysts expect a possible interest rate cut.
XRP has been one of the strongest performers among the top cryptocurrencies lately. The entire market has seen a wave of positive energy, helped by improving investor confidence. The Fear and Greed Index, which tracks overall sentiment, has moved up from 25 to 42 as traders start feeling more hopeful despite the trade tensions between the US and China.
Bitcoin has also benefited from this upbeat mood, rising above $115,000. This rally has helped other coins, including XRP, gain momentum. Ripple’s own stablecoin, RLUSD, is also showing growth. Its market cap is close to hitting $900 million for the first time ever, which signals how fast the Ripple ecosystem is expanding.
Institutional investors are showing growing interest too. Evernorth recently made a massive $1 billion XRP purchase, one of the largest corporate buys so far. It now stands alongside companies like VivoPower International that hold large amounts of XRP. Other firms such as Trident Digital Tech Holdings are also planning similar moves.
On the trading side, CME’s regulated XRP and Solana futures have hit record levels. There were nearly 9,900 active XRP futures contracts on Monday and over 15,000 open positions in Solana futures, bringing the combined value close to $3 billion. This shows how more investors are turning to regulated crypto products to gain exposure to digital assets safely.
Technically, XRP’s chart still looks a bit weak before the FOMC meeting. The coin dropped from the $2.68 resistance level earlier this week to $2.61 but has since recovered slightly. It’s now trading above $2.62, and traders are eyeing the next big target, the $3 mark.