Since the U.S. election, XRP has been experiencing an impressive upward trajectory, reaching nearly $3 earlier this month. Currently, XRP is trading at $2.47, reflecting a 1.62% increase, following the announcement of Ripple’s RLUSD stablecoin launch. Experts suggest that if the SEC concludes its appeal and resolves XRP’s regulatory hurdles, the cryptocurrency could potentially rally to $3.55. This optimistic outlook is based on the presumption that clearing legal challenges would ignite a significant surge in XRP’s value.
In comparison, Bitcoin has seen a 46% increase since the election, while the broader cryptocurrency market has enjoyed remarkable gains of approximately 93%. XRP has successfully overtaken Solana and Tether, further cementing its position. CNBC highlighted XRP as one of the standout performers in the Trump-era crypto rally, boasting a staggering 370% rise since the election. This positive momentum is propelling XRP to compete with larger digital assets.
Analyst Bullish Outlook on XRP Price
Renowned cryptocurrency analyst DonAlt, who accurately forecasted XRP’s substantial rally last November, foresees the potential for the token to double in value if it manages to break out of its current trading range. According to DonAlt, XRP has been oscillating between support and resistance levels of approximately $2.20 and $2.60 since early December, after its unsuccessful attempt to surpass the $3 mark. Should XRP overcome the resistance level at $2.60, it could instigate a fresh wave of bullish momentum, potentially driving the price even higher.
Technically, XRP Can Go Even Higher
Technical analyst EGRAG has highlighted critical factors contributing to XRP’s breakout potential. By examining historical market cycles and employing Fibonacci analysis, EGRAG predicts that XRP’s market dominance could escalate to 5.9% or even 6%. Such an increase could result in explosive price gains for the cryptocurrency. EGRAG further speculates that if Ripple achieves its ambitious $5 trillion market cap goal, XRP could attain values ranging between $8.77 and $17.54, contingent on its share of the global crypto market.
Currently, XRP’s market dominance has climbed to 2.09%, indicating a notable rebound following its recent surge above $1. The cryptocurrency is now just 27.3% shy of its all-time high recorded seven years ago, fueling excitement and anticipation for its future. With the RLUSD stablecoin in development and an anticipated IPO, the trajectory for XRP appears bullish. Investors remain optimistic for a favorable resolution to the ongoing Ripple vs. SEC legal battle, which has impeded XRP’s growth for an extended period.
