The price of XRP has surged by 30% in the last 24 hours, reaching $1.08 and surpassing the $1.00 resistance level that has held firm since December 2021. This rally marks a significant milestone for Ripple’s XRP holders, often referred to as the XRP Army.
Ripple’s Comeback Fueled by Optimistic Regulatory Changes
Ripple’s recent momentum is tied to expectations of a crypto-friendly regulatory environment under the incoming Trump administration. The potential shift in crypto policies has sparked enthusiasm across the market, igniting what many call a “crypto forest fire bull market.”
Ripple CEO Brad Garlinghouse contributed to the excitement with a tweet confirming communication with the Trump administration’s transition team. His message emphasized the proactive engagement on regulatory clarity, boosting confidence among investors.
SEC Chairman’s Impending Departure Boosts XRP
US SEC Chairman Gary Gensler’s recent speech hinted at a possible resignation, further fueling the XRP rally. Gensler’s exit would likely mark the conclusion of the SEC’s lawsuit against Ripple, paving the way for regulatory clarity. His departure would symbolize a major victory for Ripple and the broader crypto industry.
XRP’s Path to $5 by the End of 2024
Market analysts predict XRP could hit $5 by the close of 2024, reflecting a potential 277% gain from its current price. This projection comes as Ripple continues to burn XRP tokens, enhancing the token’s scarcity. With XRP’s primary use case in cross-border payments gaining traction, its utility remains a key driver of its long-term success.
Expanding Use Cases Strengthen Ripple’s Market Position
Ripple is exploring new applications for XRP, including the introduction of its stablecoin RLUSD for payment solutions. With a clearer regulatory framework, Ripple could attract interest from both corporate treasury departments and central banks exploring digital currencies.
Meme Coins Steal the Spotlight
While XRP garners attention, meme coins are thriving in the crypto space. Notable projects like Pepe Unchained ($PEPU), Flockerz ($FLOCK), and Crypto All-Stars ($STARS) are making waves, offering innovative concepts like Ethereum Layer 2 solutions and vote-to-earn mechanisms. These tokens are gaining significant traction in presales, promising high returns for early investors.
Disclaimer: Cryptocurrency investments carry risks, and past performance does not guarantee future results. Always conduct thorough research before investing.
The post XRP Price Powers Past $1.00, Here’s Why a $5 All-Time-High is Incoming appeared first on Cryptonews.
