XRP has experienced a sharp rise in value, fueled by speculation around Ripple CEO Brad Garlinghouse's rumored meeting with Donald Trump and news of SEC Chairman Gary Gensler stepping down. While Ripple settled its SEC case over the summer, the ongoing appeal could still impact XRP's price movement.
📈 Strong Performance and Weekly Gains
XRP has seen five consecutive weeks of upward movement, soaring from $0.50 to nearly $3. This sustained momentum indicates a bullish trend that could continue through 2024 and into 2025.
🎯 Price Targets for XRP
Analyst Steph is Crypto predicts that buying XRP at $2.60 could lead to long-term gains during this bull run. Using Fibonacci extensions, XRP’s first target is $5, with additional resistance at $10, $15, and a potential $30. Immediate resistance lies at $3.30, its 2018 high.
âš¡ XRP vs. Bitcoin
XRP recently outperformed Bitcoin by 300% and could gain another 51% against BTC if it breaks key resistance levels. This undervalued status positions XRP for further growth, especially during altcoin-friendly market conditions.
🔥 Altcoin Season Potential
Bitcoin dominance recently broke down, signaling the potential start of an altcoin season. If dominance continues to fall, XRP and other altcoins could experience significant gains.
With strong technicals and a favorable market environment, XRP remains a key player to watch as it eyes $30.
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