XRP has been on an impressive bull run since the U.S. election, recently soaring close to $3 before stabilizing at $2.51, marking a 4.52% increase after Ripple’s announcement of its RLUSD stablecoin launch. Analysts are increasingly bullish on XRP’s potential, with some forecasting a price target of $3.55, assuming the end of Ripple’s legal battles with the SEC. The speculation is fueled by the anticipation that once regulatory hurdles are cleared, XRP could see a major rally.
The recent rally places XRP ahead of major assets like Solana and Tether, with CNBC highlighting XRP as one of the biggest beneficiaries of the Trump-led crypto rally, showing a staggering 370% increase since the election. While Bitcoin has risen by 46%, the broader crypto market is up by 93%, but XRP’s meteoric rise has captured the market’s attention.
Also Read: XRP Set for Explosive Growth in 2025 with RLUSD Launch and Political Tailwinds – Analyst
Analyst Bullish Outlook: Breaking Resistance
Popular crypto analyst DonAlt, who correctly predicted XRP’s November surge, suggests that the token could double its value if it breaks past its current trading range between $2.20 and $2.60. XRP has struggled to surpass the $3 mark but breaking the $2.60 resistance level could spark a new wave of bullish momentum, potentially leading to significant gains.
This range breaks to the upside and XRP prolly doubles again pic.twitter.com/gr4OLqDIhd
— DonAlt (@CryptoDonAlt) December 16, 2024
Technical Factors Point to Explosive Growth
Technical analyst EGRAG points to strong market cycles and Fibonacci analysis predicting that XRP’s market dominance could surge to 5.9% or even 6%. If Ripple captures a portion of the global crypto market, XRP could see prices soar to between $8.77 and $17.54, based on a $5 trillion market cap forecast. Currently, XRP’s market dominance stands at 2.09%, marking a strong recovery following its recent surge above $1.
Thank You @DigPerspectives for sharing #XRP Chart “#XRP – Face melting phase”https://t.co/BJ3wvtmhWm https://t.co/y6OiGEo35O
— EGRAG CRYPTO (@egragcrypto) December 16, 2024
XRP’s Future: A Promising Path Ahead
XRP is now just 27.3% away from its all-time high, which was reached seven years ago, and the excitement surrounding its future is building. With the RLUSD stablecoin and a potential IPO on the horizon, the path for XRP looks increasingly bullish. Investors are hopeful for a favorable outcome in the ongoing Ripple vs. SEC case, which has long hindered the token’s growth. If the legal battles are resolved, XRP could be poised for explosive growth in the coming months.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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