The post XRP Price Surges Past $1, Eyes on the $5 Target appeared on BitcoinEthereumNews.com.

XRP price breaks $1 resistance, signaling strong bullish momentum and growing adoption for cross-border payment solutions. Ripple’s regulatory optimism and innovative solutions, including RLUSD stablecoin, strengthen its potential for global financial use cases. The XRP price broke through the important $1 resistance mark for the first time since December 2021, propelled by strong bullish momentum. Driven by market euphoria over the approaching Trump presidency and regulatory confidence, Ripple’s XRP is still becoming popular on social media. Recent comments made by SEC Chair Gary Gensler hinting at a possible resignation sharpened the movement and confirmed Ripple’s future’s viability. XRP Price Gains Momentum Amid Bullish Trends and Regulatory Optimism Technical and fundamental reasons have helped Ripple’s XRP go into a bullish trend. CoreCrypto1, a crypto analyst on TradingView, noted on the weekly chart that XRP recently breakout from a symmetrical triangle pattern, together with rising trading volume. Source: CoreCrypto1 With analysts estimating price goals ranging from $2.4 to $5, these changes imply notable pricing appreciation potential. This technological milestone is evidence of the coin’s durability and the constant support of its community—known as the XRP Army. More general hope in the crypto market helped to drive the movement as well. In a tweet, Ripple CEO Brad Garlinghouse indicated a regulatory environment more suited for crypto innovation by implying continuous conversations with the transition team of the Trump government. Gary Gensler’s remarks at the 56th Annual Institute on Securities Regulation also left many wondering about his possible resignation, an action that would alter the tide in Ripple’s protracted legal struggle with the SEC. A fix for this could open doors for more acceptance of Ripple’s payment alternatives, including the recently introduced stablecoin, RLUSD. Fundamentally, XRP is still unique among liquidity tokens meant for quick cross-border payments. Another level of value comes from Ripple’s…

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Filed under: News - @ November 17, 2024 8:24 am