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Ripple News Today: XRP has been on a bull ride since the U.S. election, with its price soaring close to $3 earlier this month. Currently, XRP is trading at $2.47, having risen 1.62% following the news of Ripple’s RLUSD stablecoin launch. Analysts believe that XRP has the potential to reach $3.55 if the SEC ends its appeal and clears XRP from regulatory issues. This price target is based on the idea that once XRP’s legal challenges are resolved, the token could experience a significant rally.
In comparison, Bitcoin has only risen 46% since the election, and the broader crypto market has seen impressive double-digit gains of 93%. Showing positive gains XRP managed to surpass Solana and Tether. CNBC recently reported that XRP is one of the biggest winners of the Trump-led crypto rally, with a whopping 370% increase since the election. This whole build-up is making XRP jump the bigger assets.
Analyst Bullish Outlook on XRP Price
Popular cryptocurrency trader DonAlt, who correctly predicted XRP’s massive rally in November, believes the token could double again if it manages to break out of its current trading range. According to DonAlt, XRP has been stuck between support and resistance levels of around $2.20 and $2.60 since early December, after failing to push past the $3 mark. However, if XRP can break above the $2.60 resistance level, analyst predicts that it could trigger a new wave of bullish momentum, potentially pushing the price even higher.
Technically XRP can go Even Higher
EGRAG points out the technical factors of XRP breakout. Wherein Historical market cycles and Fibonacci analysis predict that XRP’s market dominance could increase to 5.9% or even 6%. If this happens, XRP’s price could see explosive gains.
EGRAG has even suggested that if Ripple achieves its $5 trillion market cap forecast, XRP could reach prices between $8.77 and $17.54, depending on how much of the global crypto market it captures. Currently, XRP’s market dominance has risen to 2.09%, marking a significant rebound after its recent surge above $1.
XRP is now just 27.3% away from its all-time high, which was recorded seven years ago, and the excitement surrounding XRP’s future is only growing. With RLUSD in the pipeline and IPO coming up next the path for XRP is bullish and investors are rooting for a positive end to Ripple vs SEC which blocked XRP’s growth for a decade.