The cryptocurrency market is witnessing a significant and distinctive rally in XRP, driven entirely by spot buying rather than perpetual futures. According to insights from Dom (@traderview2), an experienced overflow, volume, and profile trader, this rally diverges from the typical behavior observed in Bitcoin and other assets. It signals genuine demand for the token rather than speculative trading, offering a promising outlook for XRP and the broader market. This demand has been reflected in XRP’s price, as the digital asset recently climbed to $3.39, its highest price since 2018. In a series of analyses supported by technical charts, Dom emphasizes the importance of the spot premium and funding rates remaining unchanged despite the recent upward price movement. “This rally continues to be driven entirely by spot buying,” Dom stated, highlighting the uniqueness of this XRP movement compared to Bitcoin’s often futures-led price surges. It’s absolutely insane to see that $XRP funding rates and spot premium still haven’t moved This rally continues to be driven entirely by spot buying (see 2nd pic), this proves real demand for actual coins This isn’t just another perp-led rally like we always see with $BTC … https://t.co/cMpxOisv76 pic.twitter.com/7bUzGC2eo8 — Dom (@traderview2) January 15, 2025 Real Demand Fuels XRP Growth The charts highlight robust buying pressure on XRP’s spot market, which indicates real demand for the cryptocurrency. This is a notable departure from the behavior of perpetual swaps or leveraged trading, where funding rates typically spike as traders speculate on price movements. In XRP’s case, the absence of significant changes in funding rates reinforces the notion that this rally is backed by buyers seeking actual tokens rather than short-term profits. The significance of this development also extends beyond XRP. XRP has been displaying unusual signs in its price surges, and a market rally driven by spot purchases often reflects increased confidence in the asset, signaling a broader shift in sentiment among investors. Such trends are critical in fostering long-term growth and stability for cryptocurrencies. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 What’s Next For the Market and XRP XRP’s spot-led rally marks a pivotal moment for the token and the cryptocurrency industry. It serves as an indicator of shifting market dynamics, where speculative futures trading plays a lesser role in driving asset value. This move may attract more institutional and retail investors, offering them confidence in XRP’s utility and resilience. For XRP specifically, this momentum could be linked to the shift in the U.S. political landscape after Donald Trump’s election victory in November, and the excitement surrounding the upcoming resignation of SEC Chair Gary Gensler. Increasing adoption and utility in cross-border payments and blockchain solutions also play a significant role, as the token’s role in facilitating efficient and cost-effective transactions has been a key value proposition for years. Dom concludes that this trend could signify much higher price levels for XRP. “If I saw this with BTC, I would simply say we are going much higher,” Dom noted, suggesting that the rally may be far from over. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Expert Reveals What Drives XRP Current Price Rally appeared first on Times Tabloid .
