XRP and MKR Lead Crypto Surge Amid South Korean Demand, ETF Inflows, and Market Optimism
XRP and MKR have recently recorded significant price increases, driven by strong demand, particularly from South Korean investors, and enhanced optimism across the cryptocurrency market. XRP led the rally with an 18.7% annual gain, propelled by a short squeeze and record trading volumes on Upbit, surpassing Bitcoin in 24-hour volume. Technical indicators for XRP remain positive, with bullish EMAs, an RSI of 64, and sustained positive MACD momentum. Analysts highlight that if XRP can break resistance levels at $2.72 and $3.20, it could target previous highs near $3.45 and potentially rise to $5, with $2 serving as a crucial support. MKR, the governance token of MakerDAO’s DeFi platform, has also surged, with forecasts pointing to possible gains toward $5,000 amid growing institutional interest and tokenization trends. Broader market sentiment has improved following positive geopolitical signals, such as prospects of a US-China agreement, further boosting optimism. ETFs tied to Bitcoin and Ethereum have attracted substantial net inflows—$934 million and $38.15 million respectively in the past week—indicating heightened institutional demand. Despite Bitcoin trading near all-time highs, public interest remains subdued, hinting at further possible rally potential. Traders should monitor key resistance and support levels while remaining vigilant for volatility as market momentum continues to build.
Bullish
The news reflects strong bullish momentum for both XRP and MKR due to a combination of technical factors, substantial trading volumes, renewed institutional participation via ETF inflows, and improved global market sentiment. XRP’s surge, driven by a short squeeze and heightened South Korean demand, pushes the price through key resistance levels with bullish indicators pointing to further upside potential. MKR benefits from DeFi sector growth and institutional interest, with ambitious price targets supporting optimistic trader outlooks. The significant ETF inflows into Bitcoin and Ethereum reinforce overall market strength, suggesting that traders expect continued price appreciation. Although public search interest remains subdued, historical precedents indicate such periods can precede major bullish cycles. Thus, both short-term and long-term outlooks remain positive, but traders are advised to monitor resistance and support levels closely for signs of volatility or trend reversals.