Over the past week, XRP's market capitalization increased from $146.17 billion to $156.78 billion, reflecting a net inflow of over $10 billion. However, over the past 24 hours, the token has lost approximately 0.6% of its value. According to CoinGecko, the increased investor interest is accompanied by moderate profit-taking after a strong upward movement.
One of the reasons for the current correction is that XRP has demonstrated higher returns than Bitcoin, with a gain of 5.31% over the past 30 days. This has prompted some traders to take profits, temporarily lowering the price.
An additional pressure factor is the anticipated release of one billion XRP tokens from Ripple's escrow account in November. This regular issuance traditionally generates caution in the market, as it increases the coin supply.
Investors are also cautious due to delays in the launch of six XRP-based exchange-traded funds (ETFs). These instruments were expected to boost institutional interest in the cryptocurrency, but the process was suspended due to the temporary government shutdown in the United States.
Nevertheless, some analysts remain optimistic. According to expert Mikybull Crypto, XRP may be in the final phase of its current bullish cycle. He notes that long-term charts show a stable ascending channel, indicating potential for growth to the $7-$15 range.
If this forecast is confirmed and XRP does reach $15, its market capitalization will approach $900 billion. This would place the token among the world's top three cryptocurrencies, alongside Bitcoin and Ethereum.
Thus, despite local difficulties and partial profit-taking, overall market trends point to the possible beginning of a new stage of growth. The $10 billion in inflow of capital serves as further confirmation of sustained investor interest in the asset and reinforces expectations for its upward movement.
XRP remains one of the most talked-about cryptocurrencies in the market, and the coming months could be decisive in determining its long-term direction.