XRP Just 1% Away from New All-Time High: Will It Break Through Today?

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TL:DR;

  • XRP’s gains seem to have no end, at least for the past several days, and the asset is now just inches away from tapping a new all-time high.
  • Consequently, we decided to ask Perplexity and ChatGPT whether it could go into uncharted territory as soon as today.

According to reports, CryptoPotato seems to have mirrored XRP’s remarkable price surges over the last few days. Initially dipping to $2.33 during Monday’s crash, the asset bounced back quickly and climbed up to $3 in just about 72 hours.

Initially, it reached a seven-year high of $3.2 today, but then it dropped in the last hour or so. Just now on Bitstamp, XRP spiked up to $3.39, nearly reaching a zone that hasn’t been explored before, with only 1% separating its current price from this new territory.

There are several factors contributing to this surge. These include increased whale holdings, expanding user adoption of the XRP network, excitement about potential political shifts in the U.S., among other reasons. For a comprehensive look, check out these additional details.

Although a setback occurred at the ATH levels with a drop to $3.3, as reported by CoinGecko, Perplexity and ChatGPT suggest that surpassing the $3.4 barrier might happen today, which was considered highly unlikely only a few days earlier.

The value must conquer the initial significant hurdle at $3.3 right now, as this level is being probed. If it does, it’s expected to “keep climbing towards its old record high of $3.4,” according to Perplexity.

Yesterday’s release of the U.S. CPI numbers showed a less alarming scenario than anticipated by many market analysts, leading to a potential softening in overall market dynamics. This shift could pave the way for riskier assets like cryptocurrencies to persist in their upward trajectories. Interestingly, among these digital assets, XRP appears to be one of the main beneficiaries from this evolving market landscape.

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2025-01-16 17:20