XRP experienced a significant surge, rising over 20% and outperforming major cryptocurrencies like Bitcoin, Ethereum, and Solana. This surge has elevated XRP to the fifth position in terms of market capitalization, surpassing $107 billion.
The price of XRP hit $1.87, marking a 99% increase over two weeks. This revival comes after three years of stagnation due to the SEC's classification of XRP as an "unregistered security," which created investor uncertainty.
Donald Trump’s election victory and promises to revise regulatory frameworks, including firing SEC Chair Gary Gensler, have renewed investor confidence. This optimism follows Bitcoin reaching an all-time high.
The anticipation of resolving the legal dispute between Ripple and the SEC is sparking potential for increased investment in XRP, with prospects for new investment products like ETFs.
Technical analysis by DarkDefender highlights that XRP has broken past the $1.44 resistance level. New price targets are identified at $3.4176 and $11.3233, with historical levels revisited at $5.85 and $18.22.
New support levels are set at $1.44, $1.28, $1.14, and $1.03. A new market structure in the 4-hour chart suggests touching $2.13 before potential corrections with resistance levels at $4.11 and $6.42, aligning with the primary target of $5.85.
