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.
Why Is XRP Rallying Today?
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 prices. A dip in inflation could potentially lead to the Federal Reserve lowering interest rates. Lower rates could lead to more risky investments.
Will The Asset Hit $2 Next?
XRP last traded above the $2 mark in January of this year. The asset had quite a bullish year in 2026, hitting an all-time high of $3.65 on July 17. The price surge came after the SEC vs. Ripple lawsuit was finally officially closed.
The cryptocurrency market is highly uncertain right now. The US Treasury’s recent bond buy backs led to a liquidity spike for the market. XRP and other crypto assets benefitted greatly from the move. However, the Treasury will have to recoup its money from the market eventually. We could see a price correction when that happens.
Also Read: Could XRP Price Be About to Repeat a Historic Rally?
Nonetheless, many analysts anticipate the cryptocurrency market to gain momentum later this year. Bernstein predicts Bitcoin (BTC) to hit $100,000 by the end of 2026. BTC hitting $100,000 could push XRP above the $2 mark.
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