XRP Gains $1 in One Day. Analyst Predicts $5 Price in Renewed Bullish Run

The cryptocurrency market witnessed an intense battle between bulls and bears as XRP experienced a sharp decline followed by a remarkable resurgence. On February 3, the digital asset plunged to a nine-week low of $1.771 on Binance, marking a moment of panic for traders. However, in a dramatic turn of events, XRP staged a swift recovery, surging 57% to reclaim the $2.78 mark within hours.

Mass Liquidations Shake the XRP Market

XRP’s price turbulence affected the derivatives market, triggering widespread liquidations. According to Coinglass data, February 3 saw the largest one-day liquidation event in XRP’s history. Long-position holders suffered the heaviest losses, with approximately $74.67 million wiped out, while short sellers lost around $28.28 million. The total market-wide liquidations for XRP reached a staggering $103 million, underscoring the intense volatility.

Crypto analysts, including Chad Steingraber, highlighted the significance of this liquidation event. The abrupt price movement was a stark reminder of how quickly market conditions can shift, particularly in an asset like XRP, which has a history of extended consolidation followed by sudden breakouts.

XRP’s Remarkable Comeback: A 57% Surge in Hours

Following the steep decline, XRP staged an impressive rebound, rallying from $1.771 to $2.781 by the evening of February 3. This 57% surge within a single day caught the attention of market commentators, many of whom noted XRP’s extraordinary resilience despite the heavy sell-off.

Market analyst Dom pointed out the significance of this movement, drawing comparisons to XRP’s historical price behavior. He noted that the asset had remained relatively stagnant for years, hovering around $0.40, yet it recently gained $1.30 in just two days. Furthermore, within a 14-hour window, XRP added $0.90 to its value—an increase substantial enough to double the portfolio of long-term holders .

Dom emphasized that such rapid fluctuations are a testament to how swiftly XRP’s market structure can change. For investors who have endured years of sideways trading, these moments highlight the potential for explosive growth.

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Could XRP Be Poised for a $5 Surge?

Despite retracing slightly to around $2.60, XRP continues to hold onto most of its recent gains. With renewed bullish momentum, analysts are now speculating on what could come next . Steingraber has suggested that XRP might be gearing up for an even larger price movement, potentially targeting a $5 swing .

For XRP to achieve this, the asset must rally approximately 192.4% from its current level, reaching around $7.60. If such a move materializes, it will propel XRP’s market capitalization to roughly $433.2 billion—surpassing Ethereum and making XRP the second-largest cryptocurrency behind Bitcoin.

The Road Ahead for XRP

XRP’s latest price action underscores the asset’s unpredictable yet explosive nature. While past performance does not guarantee future results, the recent surge has reignited enthusiasm within the XRP community. If momentum continues building, the possibility of a much larger breakout cannot be ruled out.

As traders and investors watch XRP’s next moves closely, the question remains: Will this be the beginning of a sustained uptrend, or will volatility continue to dominate? Either way, XRP has once again demonstrated why it remains one of the most closely followed cryptocurrencies in the market.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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