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Why Is XRP Price Up 4% Despite Crypto Market Correction?
By: cryptosheadlines|2025/05/13 16:00:17
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Despite the broader crypto market correction today, XRP price is up 4% today, backed by strong technical and key developments around the altcoin. With this, the ripple crypto extends its weekly gains to 17%, with daily trading volumes jumping 182% to more than $11 billion, showing strong trader interest.XRP Price Sets Stage for A Rally to $3 and BeyondFollowing strong bullish action on Monday, XRP surpassed Tether to become the third-largest cryptocurrency, with its market cap shooting past $150 billion. Even though the Ripple cryptocurrency has undergone a partial pullback with today’s crypto market correction, XRP price is still trading 4% on the 24-hour chart to $2,47.Furthermore, XRP derivatives data from Coinglass shows that the XRP futures open interest is up 14.42% to $5.29 billion, while the XRP options volume is up 76%, showing strong trader optimism for a future rally ahead. Blockchain analytics firm Santiment reported that for the first time in the 12-year-long history of Ripple, the XRP blockchain network has clocked 6.5 million users.Source: SantimentSantiment also shared three factors behind the XRP price surge today, and its decoupling from broader market trend.Legislative Support: House Bill 594 in Missouri proposes making the state the first in the U.S. to offer a full income tax deduction on all capital gains, including profits from Bitcoin and XRP.Growing Adoption: XRP’s number of holders has surged by over 11% in 2025, reflecting increasing investor confidence and interest.Mainstream Use: The cryptocurrency is now accepted as a payment method on travel booking platform Travala.com, marking another step toward mainstream utility.Additionally, with the US-China trade war tensions easing, crypto market extended gains on Monday, pushing Bitcoin and altcoins higher.Where’s the Ripple Crypto Heading Next?Renowned crypto analyst Dark Defender has shared an optimistic outlook for XRP, forecasting significant gains over the next three months. On the technical chart, Dark Defender emphasized the arrival of “3rd Wave”, setting ambitious XRP price targets.Key Targets: $3.33 and $5.85, with a long-term projection of $36.Support Levels: $2.3620 and $2.2222 provide crucial benchmarks for traders.Source: Dark DefenderAdditionally, XRP’s market dominance continues to rise in the overall crypto market and the altcoin space. This could help it inch further to higher price targets moving ahead.✓ Share: Bhushan Akolkar Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.Source link
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