Ripple’s XRP has been experiencing an impressive bull run, with its price soaring close to $3 earlier this month, marking a significant rebound for the digital asset. As of now, XRP is trading at $2.51, up 4.52% following the news of Ripple’s upcoming RLUSD stablecoin launch. The recent surge has caught the attention of analysts who believe XRP has the potential to reach as high as $3.55, assuming the U.S. Securities and Exchange Commission (SEC) ends its appeal and clears XRP from lingering regulatory issues.
The optimism surrounding XRP’s price is rooted in the belief that once its legal challenges are resolved, the token could experience a major rally. In comparison, Bitcoin has seen a 46% rise since the U.S. election, while the broader crypto market has achieved an impressive 93% gain. XRP’s performance has even outpaced that of popular coins like Solana and Tether. CNBC recently highlighted XRP’s remarkable 370% surge since the election, positioning it as one of the key beneficiaries of the Trump-led crypto rally. This build-up suggests XRP could soon outshine even the larger assets in the market.
Analyst Bullish Outlook on XRP’s Price Potential
Renowned cryptocurrency trader DonAlt, who accurately predicted XRP’s massive rally in November, remains optimistic about the token’s future. According to DonAlt, XRP has been trapped in a trading range between $2.20 and $2.60 since early December, after struggling to break past the $3 mark. However, he believes that if XRP manages to surpass the $2.60 resistance level, a new wave of bullish momentum could drive the price higher.
This range breaks to the upside and XRP prolly doubles again pic.twitter.com/gr4OLqDIhd
— DonAlt (@CryptoDonAlt) December 16, 2024
Technical Indicators Support Further Growth
XRP’s future price trajectory is supported by technical analysis, particularly from experts like EGRAG, who highlights the role of historical market cycles and Fibonacci analysis. According to EGRAG, XRP‘s market dominance could rise to 5.9% or even 6%, potentially triggering explosive price gains. If Ripple achieves its $5 trillion market cap forecast, XRP’s price could reach between $8.77 and $17.54, depending on how much of the global crypto market it captures.
Also Read: Ripple’s RLUSD Stablecoin Launch, What It Means for XRP’s Future and the Stablecoin Market
With XRP now just 27.3% away from its all-time high, excitement surrounding its future is growing. The upcoming RLUSD stablecoin launch and Ripple’s potential IPO are fueling optimism. Investors are hopeful for a positive resolution to the Ripple vs. SEC case, which has hindered XRP’s growth for nearly a decade, paving the way for a bullish future.
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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