Analysts predict XRP price could reach $5 as Korean investors boost global XRP holdings
XRP, also known as Ripple, is once again gaining attention in the cryptocurrency market. Recent trading data highlights a resurgence in demand from Korean buyers and the possibility of the token rebounding to reach $5.
Despite facing short-term market volatility and challenges, XRP continues to attract investors due to its accumulation patterns suggesting upward momentum. Currently trading around $2.84, XRP experienced a slight decline from $3.02 to $2.89 in a 24-hour period, with trading volumes increasing significantly. The token briefly dropped to $2.77 but found support around $2.85 as buyers stepped in.
Technical analysts view the $2.77–$2.85 range as a critical accumulation level. If large buyers continue to support XRP at these levels, a potential recovery could be on the horizon. Oversold conditions, rising RSI levels, and tightening MACD signals also indicate a possible bullish reversal.
One significant development is the increased activity from Korean exchanges, where institutions bought nearly 16 million XRP, equivalent to approximately $45.5 million, during a recent market dip. This surge in demand from South Korea, a key player in speculative crypto trading, could influence global prices and potentially lead to a strong rally in September.
Aside from price movements, improvements in the XRP Ledger’s fundamentals are notable. The network saw a 20% increase in active addresses ahead of the Decentralized Media launch scheduled for September 12. Additionally, Linklogis, a Chinese fintech giant, integrated with the XRP Ledger for its supply-chain financing platform, resulting in a 23% increase in equity and showcasing Ripple’s expanding enterprise adoption in Asia.
However, the broader crypto market faces challenges, with Bitcoin hitting a seven-week low and Ethereum retreating after options expiries. Factors like delayed Federal Reserve rate cuts and weakened global risk sentiment have contributed to the overall market downturn. On-chain data indicates weaker fundamentals for XRP, with a decrease in active addresses and futures open interest.
Analysts have mixed views on whether XRP could reach $5 in the near future. Technical patterns suggest a potential breakout that might push XRP to the $5–$13 range, but the token must first surpass resistance levels at $3.02 and $3.25. Key support levels are currently set at $2.79 and $2.58, with a break below posing risks of dropping to $2.43, while sustained accumulation above $2.85 could pave the way for an eventual rally.
The future trajectory of XRP will depend on factors such as Korean buyer accumulation, enterprise adoption of the XRP Ledger, and the impact of macroeconomic headwinds. Traders are closely observing September’s price action for signals of a potential breakout, especially amid speculation surrounding a potential XRP ETF launch. As of now, the XRP price forecast for 2025 remains uncertain.
