XRP has made a dramatic leap, hitting $1, up 97% this week alone, with a 24% rise just in the last 24 hours. This explosive rally has crypto enthusiasts buzzing
Cryptocurrency XRP has made an impressive leap, hitting the $1 mark and surging 97% this week alone. In just the last 24 hours, XRP has seen a 24% increase, sparking excitement among crypto enthusiasts. Several driving forces are contributing to this explosive rally.
One key factor is the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). Speculation has arisen that SEC Chairman Gary Gensler may be stepping down soon. If this occurs, it could lead to a potential shift in the SEC's stance on XRP.
With Gensler's departure, there are rumors that the SEC might drop its appeal in the Ripple case, which would be a significant legal victory for the blockchain company.
Another driving force is Ripple's own progress in the legal battle. A U.S. judge recently paused certain claims in Ripple's case with the SEC. This signals a potential favorable outcome for Ripple, boosting investor confidence in XRP's future.
Moreover, the incoming Trump administration has shown signs of supporting cryptocurrency innovation and clearer regulations. This bodes well for XRP, as it could benefit from potential advancements like crypto ETF approvals.
Interestingly, XRP's price surge isn't solely driven by retail investors. A deeper dive reveals that whale and shark wallets, known for their substantial XRP holdings, have been aggressively accumulating the token.
The total amount of XRP held by these wallets has now surpassed 45.6 billion tokens, marking the highest level of accumulation since June 2018. This strong bullish sentiment is certainly boosting XRP's price.
Developments like crypto ETF approvals could further solidify XRP's place in the broader financial ecosystem, opening new doors for growth and adoption.
As XRP continues to make headlines, experts are already predicting an explosive rally ahead. Here's what top analysts are expecting now that XRP has successfully broken the $1 mark.
$XRP The train has left already
Expect a massive rally to a new ath from now till March 2025.
SEND $XRP TO $589 NEXT ?
Now that XRP has broken the $1 mark, what's next?
Well, XRP is surging 75% this week, breaking $1 with bullish momentum.
Targeting $1.16, $1.41, and $1.69, with RSI confirming buying pressure.
Conclusion:
As we look ahead to 2025, the introduction of real-world utility for XRP could push its price even higher. If XRP were to experience similar gains to its 2017-2018 run, the price could rise as high as $3.
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