What happened?
XRP has experienced a dip in price to $2.91 amidst a broader market downturn, despite the recent launch of a crypto-linked Mastercard by Gemini. This card offers cashback in XRP, which has positively impacted the long-term price prediction for XRP. The altcoin, although currently down, has seen a substantial 385% increase over the past year.
Who does this affect?
The launch of Gemini’s new card primarily affects XRP investors and cryptocurrency enthusiasts who may be interested in earning or increasing their holdings of XRP. It also impacts potential users of the card who are looking for crypto cashback rewards on their purchases. Moreover, institutional investors focused on XRP are likely to be influenced by the increased adoption and the potential for XRP to reach new highs with ETF approvals.
Why does this matter?
This development has significant market implications as it could enhance the adoption and demand for XRP, possibly driving its price higher. The introduction of the Mastercard that offers cashback in XRP could lead to more retail and institutional interest, especially if combined with the approval of XRP ETFs. As a result, XRP’s market performance may see an upward trajectory, possibly hitting landmarks such as $5 by the end of the year and $10 by the middle of 2026.