XRP News Today: HBAR Surges 70% in 30 Days, Bulls Eye $0.50 as XRP Comparisons Fuel Optimism

Hedera’s native token, HBAR, has been experiencing a notable resurgence, with bulls setting their sights on the $0.50 level. This surge in optimism is driven by a combination of on-chain fundamentals, ecosystem partnerships, and comparisons to XRP’s historical growth cycles, which have garnered renewed market attention.

HBAR has shown significant price momentum, trading at $0.2786 as of July, marking a gain of over 30% in the past week. This price movement signals heightened interest from both retail and institutional traders. Over the past 30 days, HBAR has increased by more than 70%, making it one of the top-performing Layer-1 tokens in the market. Analysts highlight that breaking the $0.22 resistance zone was a crucial factor in this rally.

Technical traders have identified $0.285 and $0.298 as immediate targets, with $0.30 serving as a psychological resistance level. HBAR is currently positioned above its 50-day and 200-day moving averages, indicating a bullish trend. The Relative Strength Index (RSI) on the daily chart is at 70, approaching overbought territory but still offering room for further upside.

The rally in HBAR is underpinned by Hedera’s real-world usage, particularly in enterprise-grade applications. A significant portion of these applications is powered by the Avery Dennison-backed atma.io, which tracks product carbon footprints at scale. Additionally, the HBAR Foundation’s $250 million allocation to accelerate the Hedera metaverse represents a quarter of the foundation’s total funds, demonstrating a bold investment by an organization that only launched in October 2021.

Analysts have drawn comparisons between HBAR and XRP, noting similarities in institutional adoption and transaction speed. Both platforms are consensus-driven and aim to scale global financial infrastructure. This comparison has fueled optimism among traders and analysts, who see potential for HBAR to follow a similar growth trajectory to XRP.

Increased Open Interest in HBAR derivatives markets, coupled with neutral leverage, suggests organic spot-driven demand. However, for HBAR to reach $0.30, it would require a price increase of roughly 150% from current levels, putting its market cap at approximately $15 billion. The rally in HBAR appears to be more than just speculative, with strong network activity, increasing whale accumulation, and rising institutional attention.

Hedera is showing signs of sustained momentum, with comparisons to XRP fueling optimism. Unlike past cycles, data backs the enthusiasm this time, indicating a more solid foundation for HBAR’s growth. Whether HBAR can maintain this pace or reach the elusive $0.30 remains to be seen, but for now, the bulls have reason to charge forward.