XRP, the cryptocurrency associated with Ripple, is experiencing a strong rally, reaching its highest level since January 2018. The rally is being fueled by increased derivatives activity and renewed investor enthusiasm. In the past week alone, XRP gained 47% and surpassed stablecoin Tether to become the third-largest cryptocurrency by market cap. XRP's relative strength index (RSI) is also at its highest level since October 2017, indicating strong momentum. Despite the RSI suggesting XRP is "overbought," analysts caution against assuming a correction is imminent. The surge in price is accompanied by record activity in XRP futures, indicating participation from both retail and institutional investors. The news that Donald Trump is open to making US-based cryptocurrencies, including XRP, into strategic reserves has also contributed to XRP's rise.



Other News from Today