XRP is experiencing unprecedented buying pressure, with the token now targeting a new all-time high of $4 amid a resurgent cryptocurrency bull market.
In the past week, XRP’s market capitalization has surged by $40.54 billion, rising from $165.82 billion to $206.36 billion. This massive inflow drove the token’s price to $3.49, representing a 24.65% increase on the weekly timeframe.
XRP price prediction
With XRP seemingly gearing up for a breakout, Finbold consulted OpenAI’s ChatGPT for insight into where the asset could be headed by year-end. According to the model, if current buying momentum holds, XRP could trade between $5 and $7 by December.
ChatGPT noted that the surge will likely be fueled by sustained investor demand, which is reinforcing market momentum. At the same time, the anticipated decline in Bitcoin (BTC) dominance is likely to redirect capital into altcoins, signaling the start of an altseason, during which XRP, as a top-tier token, is poised to gain significantly.
Adding to market optimism is growing regulatory clarity, especially in the U.S. After years of legal uncertainty, more explicit rules are helping to reduce risk for both institutional and retail investors.
Notably, this comes as the U.S enacted the Genesis Act, which provides a legal framework for stablecoin, amid the final push towards ending the legal battle between Ripple and the Securities and Exchange Commission (SEC).
Why XRP is breaking out
It’s worth noting that, beyond tracking the broader crypto market, XRP’s rally is being driven by several key developments. Notably, momentum picked up following the approval of the ProShares XRP Futures ETF on July 19, sparking renewed interest from institutions.
The move mirrors Bitcoin’s ETF-fueled surge earlier this year. Meanwhile, 11 spot XRP ETF applications are awaiting review, with traders estimating an 88% chance of approval by year-end.
Finally, on-chain activity also spiked, with 1.7 billion XRP moved on July 18, marking the highest daily volume in a year and indicating potential whale accumulation, a traditionally bullish signal.
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