The XRP price pumped past $2.35 XRP/USDT on 8 February after gaining by 8.1% within a 24-hour period. Impressively, its value rose by 73.1% within the past 14 days and by 17.1% during the previous two weeks. During the period the coin performed far better than the other major cryptocurrencies that include bitcoin and ETH.
One major cause of its current rally is optimism in the broader crypto market, which started after Trump’s victory in the United States presidential elections. The emerging report that Gary Gensler, the current SEC chairperson, has hinted on leaving the organization has boosted XRP price performance.
Gary Gensler Set to Leave the SEC – x.com/Kobeissiletter
Since people believe that Gensler is the person behind the 2024 crypto crack-down, they think that his resignation may bring a new crypto perspective in the United States. With this XRP will be one of the coins to benefit the most from the easing of the crypto crack-down in the country. This lawsuit comes at a time that many people expect the Trump administration to introduce crypto-friendly regulations and promote a related environment.
XRP’s price trajectory shows that it may outperform many established cryptocurrencies in the coming months. If it overcomes the legal hurdles in the United States it may reach a new all-time high very soon. To recall, XRP attained an all-time high of $3.40 on 7 January 2018. Currently, some leading crypto analysts predict the XRP price to reach $3 in the near future and $20 in the medium to long-term periods.
XRP Starts a New Phase
Looking at how XRP is performing on the market. It is likely that it has entered a new phase that may see its price reaching new highs. Since we are within the first days of its uptrend many investors are still analyzing its price trends. Once many investors are confident in its future value its value may rise remarkably. However, at the moment XRP has overcome several key resistance zones and levels. For example, during recent days it broke above the $0.8; $0.9; $0.7; $1.0, $1.50, $2.0, and $2.10 resistance levels. That shows that the cryptocurrency is in a strong uptrend. The following graph shows XRP’s recent price gains.
XRP Daily Price Chart – Gate.io
As you observe on the image, there is a super uptrend. Note too that, it has very few retracements which are very shallow in nature. And there are no signs of XRP exhaustion, indicating that its bullish momentum may continue into the future. Several indicators support XRP’s bullish nature. First, the XRP Ichimoku is rising sharply, showing high momentum. Many investors find that now is a good time to buy XRP, if any investor does not know how to buy XRP can be purchased on Gate.io cryptocurrency exchange, clear purchase steps and simple operation way to make beginners easy to learn.
Currently, the ADX has a reading of 40.51. This indicates that the asset has a very high volatility. In addition, it has a Fear and Greed reading of 80, indicating high investor interest in the asset. However, its Relative Strength Index (RSI) shows an overbought state since it has a reading of 84.29. Remember that if the RSI reading reaches 90 it may show a market top.
It is important to note that for several years back XRP faced a sideways price action and high selling pressure on some days. The main factors that affected its price performance were regulatory uncertainty, legal setbacks and market skepticism. If its current trend continues and the regulatory outlook in the United States improves the XRP price may rise towards its ATH at $3.40 at the moment.
XRP Market Prediction
Trading data on CoinCodex shows that the XRP bullish momentum is likely to continue. XRP is currently traded at $2.38 XRP/USDT at Gate.io Exchange. During December the coin may experience a correction that may force its price to fall below $1.98 XRP/USDT. Then, in 2025 the XRP value will likely surge further and trade between $2.56 and $2.74. However, there is also a high possibility that it may surpass $3 during the same year. Note that this prediction is based on the assumption that both the economic and legal environments will remain stable or even improve.
Ripple’s Path towards $1,000
Whereas traders are hoping that the XRP price may surpass its ATH long term investors anticipate its value to reach $1,000. Several factors may make that possible. First, the approval and launch of XRP ETFs in the United States may push its value towards that level. This is because the ETFs will likely attract institutional investment in the asset. The recent launch of XRP futures has created hope that there may be a rise in the number of exchange-traded funds on the U.S market soon. At this point, three asset management firms – Canary Capitals, Bitwise and 21Share – have filed for XRP ETFs in the United States.
A rise in institutional adoption of XRP will likely push its value up towards $1,000. Several banks and other financial institutions have been testing Ripple’s technology for cross-border financial transactions. Therefore, an increase in the adoption of Ripple’s monetary payment solutions may lead to a rise in the demand for XRP. Ultimately, that may help drive its price up.
