The price of XRP has risen by 4% in the past 24 hours, with its move to $2.13 coming on a day when the crypto market as a whole gains by 1%.
XRP is now flat in the past week, but boasts a 21% gain in a month and a healthy 300% increase in the last 12 months.
A new report from Mexico-based crypto-exchange Bitso highlights one of the reasons for such gains, finding that XRP accounted for 12% of the average portfolio in Latin America in 2024.
This makes it the most popular crypto in Latin America after Bitcoin (49% of the average portfolio) and Ethereum (13%), and with the coin’s fundamentals having improved in recent months, the coming year could be very positive for its price.
XRP Usage Soars in Latin America – Is $10 XRP Incoming?
Bitso’s Crypto Landscape in Latin America also provided some other interesting data, including the revelation that 9% of all buys in 2024 (in Central and South America) were of XRP.
This makes it the fourth most-purchased token in Latin America last year, after USDC, Bitcoin and USDT.
Source: BitsoWriting in its report, Bitso’s analysts highlighted one main reason as to why XRP has been able to secure such a strong position in the region.
They explained, “After the U.S. presidential election results, BTC’s price reached new all-time highs, and there was also optimism for assets previously undervalued or negatively viewed by regulators, such as SOL and especially XRP (which nearly returned to its all-time highs).”
And XRP’s fundamental position in this respect has only strengthened since the presidential election, given that Ripple and SEC recently filed to suspend their appeals, as they negotiate a final settlement in their long-running case.
This paves the way for Ripple to grow and expand more aggressively, something which could lead to more usage of XRP for cross-border remittances, for example.
In the shorter term, XRP looks like it could post further gains this week, given that its one-day chart shows a continued improvement in momentum.
Source: TradingViewMost notably, its RSI (purple) has just risen back up to 50, indicating an increase in buying pressure.
We may also see XRP’s price climb over the 30-day average (orange), suggesting a bullish turn after a difficult period.
These are early signs, but if the market can continue to recover from recent tariff fears, then XRP could easily return to $2.50 by the end of May.
It may even reach $3 in H2, especially if any XRP ETFs gain approval from the SEC.
Newer Alts Can Bring Bigger Gains This Summer
XRP is undoubtedly one of the strongest major alts in the market in terms of fundamentals, but its progress may be relatively gradual in the near term (given the aforementioned tariffs).
As such, traders may prefer to turn to newer alts during the current period, since new tokens listing on exchanges for the first time can often enter price discovery mode.
This can happen with presale coins once they launch, with one of the more interesting such tokens right now being MIND of Pepe (MIND).
An ERC-20 token, has now raised $8.1 million in its popular sale, which will continue for the next few weeks.
MIND of Pepe is preparing to launch an autonomous AI agent, which will come with several crypto-related functions.
Firstly, it will process social media and trading data to generate market advice and analysis, helping MIND holders to stay ahead of the market.
Secondly, it will use its insight into current trends to generate its own meme coins, which will list on exchanges and potentially go viral.
The benefit of holding MIND in this context is that holders will gain early access to self-generated meme coins, before they list on trading platforms.
Holding MIND will also enable traders to gain access to MIND of Pepe’s market analysis, giving the token a strong use case.
While MIND’s sale has entered its latter stages, newcomers can still join by going to the MIND of Pepe website and connecting a compatible wallet.
MIND is currently available at $0.0037265, but this price will rise on a regular basis until the sale ends.
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