What Is Driving the Surge in XRP Price Today?

today despite expectations of no rate cuts in January partly because investors are convinced that the FOMC will lower interest rates further in March and at least one time after that by the end of 2025. The bullish sentiment is also informed by recent remarks of the President Donald Trump that he would soon demand that interest rates be lowered. XRP eyes $4.50 valuation after forming bullish flag

XRP has been experiencing a surge in price, rising by nearly 10% in the last 24 hours to reach $3.18. This increase comes following Ripple’s advancement in its regulatory push, securing new licenses in New York and Texas. The XRP/USD price movement signals a bullish trend, hinting at a potential target surpassing $4.5. This rebound is significant, especially after XRP’s value dropped from $3.10 to below $2.80 in a short span on Monday, Jan. 27.

The recent dip in XRP’s value was part of a broader market downturn triggered by a Chinese startup, DeepSeek, launching a new AI model that was as powerful as ChatGPT but required fewer resources to operate. Despite this setback, XRP has shown resilience, bouncing back with strong positive momentum. This recovery has been attributed to various factors, including the promising outlook for a crypto-friendly environment under the Trump administration.

Furthermore, XRP has formed a bullish flag pattern, indicating a potential 50% upside in the near future. This pattern, coupled with the positive market sentiment, has fueled optimism among investors and analysts alike. The recent surge in XRP’s price is a testament to the cryptocurrency’s resilience and potential for further growth.

The Federal Open Market Committee (FOMC) is set to announce its decision on interest rates on January 29th. While expectations are for the central bank to maintain its current rate, any potential rate cuts in the future could have a significant impact on crypto prices. Historically, rate cuts have encouraged investors to explore riskier assets such as cryptocurrencies, driving up their value.

Despite the anticipation of no rate cuts in January, XRP continues to rally as investors believe that the FOMC will lower interest rates in March and potentially beyond. President Trump’s recent statements about lowering interest rates have also fueled positive sentiment in the market. As a result, XRP is eyeing a valuation of $4.50 after forming a bullish flag pattern, suggesting further upward momentum in the coming weeks.

In conclusion, Ripple (XRP) has experienced a notable increase in price over the past 24 hours, driven by positive developments in regulatory compliance and market sentiment. With the formation of a bullish flag pattern and expectations of future rate cuts, XRP is poised for further gains in the near term. Investors and market analysts are closely monitoring these developments, expecting continued growth in XRP’s value in the coming weeks.