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XRP price has entered a bullish phase, with traders now watching the $3.40 mark as the next short-term target. Technical patterns, social media speculation, and long-term holder expectations have created a renewed sense of momentum.
According to CoinMarketCap, XRP rose 2.2% in the past 24 hours to reach $2.46, its highest level since early 2022. The move followed a liquidity sweep below key levels, which many traders see as a structural shift toward bullish conditions.
Traders Eye $3.40 as Hype Builds Around 2017 Echoes
Crypto Patel noted that XRP had swept sell-side liquidity and was now showing a bullish structure. He added that a bullish order block at $2.2220 could act as an entry zone, with targets set at $2.9990 and $3.40.
Another trader, Steph is crypto, echoed the $3.40 price level, citing a falling wedge breakout as the main pattern behind the current setup.
Others remain focused on the historical context. @Cryptoinsightuk reminded followers that XRP only broke above multi-year resistance once in 2017, during its all-time high run to $3.31.
“In 2017, $XRP was one of the top gainers,” they wrote.
Retail sentiment has also surged. Random Crypto Pal referenced XRP’s jump from $0.003 to $3.31 in 2017 and asked if a rise to $3,000 could follow. While speculative, the comment reflects a growing wave of social media-driven optimism.
XForceGlobal described two possible paths—either a slower rise toward $20–$40 or a quicker move with lower targets at $7–$10. The post noted the polarization in sentiment, adding,
“The more people that hate on it, the more I love it.”
On-Chain Metrics Reveal Underlying Friction
Despite the rising price, on-chain data paints a mixed picture.
According to Glassnode, XRP’s Network Value to Transactions (NVT) ratio has surged to its highest level since Jan. 2020. This indicates the token’s market cap is growing faster than its transaction activity.
A high NVT usually suggests the asset is overvalued relative to usage. It can also signal reduced investor confidence in actual network growth.
Although Ripple, the blockchain firm behind XRP, recently launched its Ripple USD (RLUSD) stablecoin and expanded into Dubai, these developments have yet to produce a corresponding spike in network activity.
XRP Price $40 Ambitions Still Face Macro Resistance
While XRP continues to attract retail interest, the price may need stronger fundamentals to justify any long-term climb beyond $3.40.
Regulatory clarity in the United States has eased the pressure, and XRP price has gained traction in Middle Eastern markets. However, the network’s stagnating transaction volume remains a concern.
With multiple traders pointing to $3.40 as the near-term resistance and varied long-term targets from $7 to $40, the road ahead may hinge on both technical confirmation and improved network utility.
