TL;DR

• XRP’s price hit a 7-year high of almost $2.90 amid optimism over its use in banking transactions, ETF speculation, and bullish predictions.
• Experts forecast the asset could hit $4 and $8 soon, with some projecting its market cap might exceed $500 billion.

XRP Makes the Headlines

The cryptocurrency sector experienced a substantial revival in the last 24 hours, with its global market capitalization rising above $3.5 trillion once again. Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and many more leading digital assets are well in the green today (January 15), but some lead the pack with double-digit price spikes.

One notable gainer is Ripple’s XRP, whose valuation recently hit a 7-year high of almost $2.90. Currently, the price is hovering around $2.88 (per CoinGecko’s data), representing a 14% increase on a daily scale.

Alongside its significant surge, XRP became the top-trending cryptocurrency on January 14. According to Santiment, the reasons behind the buzz surrounding the asset are the increased optimism over its potential use in banking and financial transactions, the bullish predictions of a further rally, and the XRP ETF speculations. 

The platform’s research estimated that the second most-trending cryptocurrency is Ethereum (ETH). The interest is supposedly fueled by the introduction of Soneium (an Ethereum layer-2 blockchain solution developed by Sony). 

“There are multiple transactions involving significant amounts of ETH, highlighting active trading and investment throughout the Ethereum ecosystem,” Santiment added.

Other cryptocurrencies that have captured the attention of industry participants as of late include Bitcoin (BTC), Kaspa (KAS), and Peanut the Squirrel (PNUT). 

XRP Targets Fresh Peaks

As mentioned above, numerous analysts believe the price of Ripple’s native token could reach a new all-time high as soon as this year. X user CRYPTOWZRD recently claimed that the asset “has flipped previous resistance to support” of around $2 and is now poised to soar to $4 and then $8. They said such a scenario would mirror the pre-bull run in 2017 and the subsequent rally the following year.

The veteran trader Peter Brandt also chipped in. He outlined multiple bullish forecasts lately, assuming that XRP’s market capitalization could explode above $500 billion. Such a pump would result in a price increase of almost $9.50.

It is worth mentioning that Brandt has been predominantly anti-XRP for the past several years. Earlier this month, though, he apologized for his stance and wished the Ripple community all the best.

Bitcoin’s price actions took a positive turn after the Monday night crash, and the asset tapped a weekly high of just under $98,000 earlier today.

The altcoins also posted some notable gains ahead of today’s CPI numbers in the States, which are expected to lead to massive volatility once again.

BTC Prepares for CPI

The primary cryptocurrency had a highly volatile week as it traded above $102,000 last Tuesday but headed straight south in the following days. The culmination, at least at first, came last Thursday when BTC slumped to a monthly low of $91,250.

It bounced off and recovered some ground in the following days but started to drop hard once again at the start of the current business week. As reported on Monday, the asset plunged by several grand in hours and dipped below $90,000 for the first time since November.

The bulls finally stepped up on the gas pedal at this point and didn’t allow a further decline. Just the opposite, bitcoin started to recover some ground rapidly and spiked to $96,000 yesterday. It kept climbing gradually in the early Wednesday hours and neared $98,000 for the first time in a week.

It failed there and now trades about a grand lower in anticipation of today’s CPI announcement. Still, its market cap is well above $1.9 trillion but its dominance is down to 54.6% on CG.

XRP, XLM on the Rise

The biggest gainers from the larger-cap alts are Ripple and Stellar. Both assets have gained around 10% over the past 24 hours and sit above $2.8 and $0.45, respectively. Cardano is also well in the green as it managed to reclaim the $1 level.

Other alts with minor gains today include DOGE, TON, AVAX, and LINK. In contrast, ETH, SOL, BNB, TRX, and SUI are with some losses within the same timeframe.

The total crypto market cap has recovered over $200 billion since Monday’s low and is above $3.5 trillion.

TL;DR

• ADA jumped to $1.05, possibly driven by overall market recovery, whale purchases, and Cardano partnership rumors.
• Analysts predict the asset could reach $1.20 soon, with long-term targets as high as $7 based on technical patterns and upcoming developments.

What Caused the Pump?

Cardano’s ADA is among the best-performing cryptocurrencies today (January 15), with its price soaring to a one-week high of approximately $1.05 (per CoinGecko’s data). Its market capitalization jumped above $37 billion, thus solidifying the asset’s position in crypto’s top 10 club.

Perhaps the most obvious reason fueling the rally is the overall resurgence of the digital asset market. Bitcoin (BTC), whose price briefly dipped below $90K a few days ago, is now worth around $97,000. Ethereum (ETH), Solana (SOL), Ripple (XRP), and many others have also charted impressive gains in the last 24 hours.

Another factor could be the whale activity. The popular X user Ali Martinez revealed that such large investors have accumulated more than 100 million ADA (worth over $100 million) in the past 48 hours. 

Whale purchases reduce the available supply, potentially creating buying pressure and pushing prices higher due to basic economic principles. The move often signals confidence in the asset, encouraging smaller players to follow suit, further amplifying the upward price movement. 

Last but not least, ADA’s latest pump could be attributed to the speculations about an upcoming partnership between Ripple and Cardano. The leaders of the two entities have held discussions in the past few months. Most recently, Cardano’s founder Charles Hoskinson hinted the possible collaboration could involve the integration of Ripple’s stablecoin:

“We’ve already had a call with the RLUSD people. We are actively talking.”

ADA Predictions

Many market observers think Cardano’s native token has yet to reach new peaks. X user Ssebi claimed the asset had formed a “big W pattern” on its price chart. According to them, ADA is headed toward $1.20 because it broke the $1.02 depicted resistance. 

Others who weighed in lately include Dan Gambardello and Altcoin Daily. The former believes ADA has “one of the most bullish weekly pattern setups in crypto,” envisioning a potential price explosion to as high as $7.

Altcoin Daily made optimistic forecasts about numerous cryptocurrencies at the start of the year, predicting that ADA’s valuation might reach $6.45 sometime in 2025. 

Meanwhile, Cardano is poised for significant advancements over the next 12 months that could drive its token’s price higher. To explore what’s planned, check out our detailed video below: