XRP's Price Plunges Below $3, with Top Analyst Maintaining a Positive Outlook as Long as Certain Support Level Persists
In the dynamic world of cryptocurrencies, XRP continues to make waves. Q2 2025 saw a significant surge in XRP's trading activity, as revealed by Coinbase's Q2 results, with XRP accounting for 13% of consumer transaction revenue, surpassing Ethereum's 12%.
The legal victory in the Ripple case, which saw the SEC withdrawing its appeal in Q1, is credited by Juan Leon, research analyst at Bitwise Asset Management, for this development. This legal win sparked a rally in XRP's price and retail interest in trading the token.
Analyst Javon Marks has set a short-term price target for XRP at approximately $4.804, based on technical analysis and strong support levels above $2.47. This target implies about a 44% increase from recent prices, with further upside possible if this resistance level is broken, potentially pushing XRP price even higher up to around $7.138 in subsequent rally phases.
Discussions around the approval of a spot XRP ETF have gained momentum, according to Bloomberg analyst Eric Balchunas. There is speculation around a potential SEC clearance around September or October. If approved, this could further boost XRP's popularity and price.
The BEST utility token, powering the Best Wallet ecosystem, is also making headlines. The BEST Wallet supports over 60 blockchains and offers features like a built-in DEX aggregator and a discovery launchpad for new presales. The BEST Wallet token is currently one of the best crypto presales in the market, having raised more than $14.4 million. The current price of the BEST token is $0.025415.
However, XRP price has dropped by 6% in the last 24 hours, falling below the crucial support of $3.0. This downturn could potentially slow down the short-term price increase predicted by Javon Marks, but a successful breakout above $4.804 could open the door to the next upside target of $7.138 for XRP.
With the potential of a spot XRP ETF and continued growth in transaction revenue, XRP remains a cryptocurrency to watch in the coming months.
Investing in XRP could be a strategic decision for those interested in the finance sector, given the cryptocurrency's significant surge in trading activity and potential approval of a spot XRP ETF. The legal win in the Ripple case and the subsequent rally in XRP's price suggest a positive outlook for the cryptocurrency's future, with analyst Javon Marks setting a short-term price target of approximately $4.804.
