CandleFocus

Hedera surges 90% in 48 hours amid Ripple’s RLUSD launch and HBAR spot ETF news

Hedera (HBAR) has experienced a significant price increase of 90% in just two days, driven by speculation of a potential partnership between Ripple and Hedera, as well as the filing of the first-ever Hedera HBAR spot ETF by Canary Capital. The collaboration between Ripple and Hedera would involve expanding Ripple's RLUSD stablecoin to the Hedera network, boosting the utility of the stablecoin and increasing institutional adoption of HBAR. The filing of the HBAR spot ETF could also attract traditional investors and provide a regulated way to gain exposure to HBAR. Technical indicators, such as the golden cross formation, have been favorable for Hedera, contributing to the price surge. Analysts forecast further growth for HBAR, with a price target of $0.30 to $0.45. However, investors should remain cautious of potential short-term pullbacks.

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