XRP Rises 8.8% In One Day: Can It Hit $2 Next?
Ripple’s XRP token is taking off today, reclaiming the $1.44 mark once again. CoinGecko data shows that XRP has risen by 8.8% in the last 24 hours and nearly 30% in the last month. XRP faced substantial sell offs over the last several months, but seems to be turning the tide right now. Let’s discuss why XRP is rally today and if it can hit $2 next. Source: CoinGecko Why Is XRP Rallying Today? Source: TradingView XRP’s latest rally comes amid a market-wide resurgence. The rally is strange given that the Federal Reserve recently decided to raise interest rates by 25 basis points. Higher interest rates often leads to less investments in high-risk assets. The rally also comes right after the US Senate voted against the highly anticipated CLARITY Act. The cryptocurrency market seems to be going against the largely bearish trends. XRP’s latest price rally could be due to a dip in oil prices. Investors may be anticipating lower inflation numbers due to falling energy pr...