- The cryptocurrency market is showing signs of recovery after a recent crash.
- Bitcoin reached $115,000, and the total crypto market cap moved back above $4 trillion.
- XRP rose 8.7% in 24 hours but remains down on weekly and monthly time frames.
- Analysts predict XRP could reach $2.87 on November 1, reflecting a 12% increase from current levels.
- A decision from the SEC on several XRP exchange-traded funds is expected later this month, potentially impacting prices.
The global cryptocurrency market began to recover after a recent decline, with several major assets trading higher today. Bitcoin climbed to $115,000, and the total value of all cryptocurrencies surpassed $4 trillion. XRP, a leading digital asset, also gained 8.7% in the last day, according to data from CoinGecko.
Despite this daily surge, XRP has not fully recovered its losses. The asset is still down 13.9% over the past week, 10.3% in the past 14 days, and 17.7% over the previous month. The earlier positive momentum at the start of 2025 helped XRP breach the $3 mark for the first time since 2018 and achieve a record high of $3.65 in July. These gains followed the resolution of the lawsuit between the U.S. Securities and Exchange Commission (SEC) and Ripple, which boosted investor confidence and market inflows.
The recent crypto market downturn is linked to continuing trade tensions between the United States and China. The U.S. government announced new 100% tariffs on Chinese goods starting in November, responding to China’s restrictions on rare earth exports. This trade conflict negatively affected XRP and other risk-oriented assets.
Analysts from CoinCodex project that XRP may rise to $2.87 by November 1, a 12% increase from current values. This outlook is supported by expectations that the Federal Reserve may reduce interest rates at its next meeting, which could encourage an overall market rebound.
In addition, the SEC is set to rule on several XRP exchange-traded fund (ETF) applications between October 18 and 24. A favorable decision may lead to further price increases for XRP.
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