XRP has notably outperformed other major cryptocurrencies like Bitcoin and Ethereum recently due to growing investor optimism around potential clearer regulatory frameworks in the United States. This comes after important political changes, such as Donald Trump’s election, and the upcoming departure of SEC Chairman Gary Gensler.
With Gensler leaving in January and Paul Atkins likely stepping in as a pro-crypto leader, there is increased optimism for XRP's future. Specifically, asset managers like Canary Capital and Bitwise are exploring XRP exchange-traded funds (ETFs), which could further bolster institutional investments.
In the past month, XRP surged by 400%, reaching a six-year high of $2.91. Analyst DarkDefender has noted the significance of the $2.92 Fibonacci resistance level, with crucial support levels at $2.13 and $1.88. Breaking above $2.92 could see XRP aiming for $3.99, a potential new all-time high.
Remarkably, XRP's trading volume has surpassed that of Bitcoin and Ethereum, indicating greater investor interest. Currently, XRP trades at $2.50 after a slight 7% correction over the past 24 hours.
