Ripple’s XRP token is recovering from its recent dip. The asset has rallied 0.1% in the daily charts, 2.1% in the 14-day charts, 54.3% in the monthly charts, and 483.4% since January 2024. Despite the rally, the asset is still down by 0.6% over the previous week.
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Why Is Ripple’s XRP Up Today?
XRP’s latest upswing follows Bitcoin’s (BTC) rise to $105,000. The rally could be due to the Federal Reserve pausing interest rate hikes. The Fed could be waiting to see the impact of US President Donald Trump’s policies.
Despite the pause in interest rate hikes, the Fed did not announce a rate cut. The move could lead to XRP facing a correction. Fed chair Jerome Powell stated, “There would be no rush to cut rates again until inflation and jobs data made it appropriate.“
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DeepSeek Predicts The Asset To Hit $5
DeepSeek is the latest AI model to take the world by storm. The ChatGPT rival anticipates Ripple’s XRP token to trade between $3.50 and $5.00 by the end of this year. Either way, the AI model anticipates the asset to hit a new all-time high in 2025. Hitting $5 from current price levels will entail a rally of about 60.26%.
XRP has had quite a bullish few weeks. The asset breached the $3 mark for the first time in seven years. There is also a possibility that the asset will have an exchange-traded fund sometime this year. Financial institution WisdomTree filed for a spot XRP ETF last year. The Trump administration is quite bullish on crypto. The new leadership may greenlight many new crypto-based ETFs this year. The development could help propel XRP to new heights. How the asset will perform over the next few months is yet to be seen.
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