XRP Price Surges Past $1, Eyes on the $5 Target
The XRP price broke through the important $1 resistance mark for the first time since December 2021, propelled by strong bullish momentum. Driven by market euphoria over the approaching Trump presidency and regulatory confidence, Ripple’s XRP is still becoming popular on social media.
Recent comments made by SEC Chair Gary Gensler hinting at a possible resignation sharpened the movement and confirmed Ripple’s future’s viability.
XRP Price Gains Momentum Amid Bullish Trends and Regulatory OptimismTechnical and fundamental reasons have helped Ripple’s XRP go into a bullish trend. CoreCrypto1, a crypto analyst on TradingView, noted on the weekly chart that XRP recently breakout from a symmetrical triangle pattern, together with rising trading volume.
Source: CoreCrypto1With analysts estimating price goals ranging from $2.4 to $5, these changes imply notable pricing appreciation potential. This technological milestone is evidence of the coin’s durability and the constant support of its community—known as the XRP Army.
More general hope in the crypto market helped to drive the movement as well. In a tweet, Ripple CEO Brad Garlinghouse indicated a regulatory environment more suited for crypto innovation by implying continuous conversations with the transition team of the Trump government.
Gary Gensler’s remarks at the 56th Annual Institute on Securities Regulation also left many wondering about his possible resignation, an action that would alter the tide in Ripple’s protracted legal struggle with the SEC. A fix for this could open doors for more acceptance of Ripple’s payment alternatives, including the recently introduced stablecoin, RLUSD.
Fundamentally, XRP is still unique among liquidity tokens meant for quick cross-border payments. Another level of value comes from Ripple’s emphasis on institutional relationships and possible network integration of central bank digital currencies (CBDCs).
Should the United States choose a more crypto-friendly posture under the incoming government, Ripple might confirm its leadership in payment methods worldwide.
On the other hand, CNF previously reported that Ripple is expanding in Latin America, which accounts for 7.3% of the global crypto industry, and making increased efforts to attract off-shore investment.
Meanwhile, as of writing, XRP is swapped hands at about $1.02, up 5.36% over the last 24 hours and 73.46% over the last 7 days. The coin became one of the top gainers today.
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