XRP Hits $1, Soars 75% This Week – Eyes New Highs for 2024
Cryptocurrency
XRP
We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
XRP has reached $1.04, marking a 15% increase in the past 24 hours and a 75% rally this week, with a trading volume of $15 billion. This surge stems from speculation about SEC Chair Gary Gensler’s potential resignation and Ripple’s recent legal progress.
Gensler, known for his hardline stance on cryptocurrencies, hinted at stepping down during a speech reflecting on his tenure, fueling hopes for a more crypto-friendly SEC leadership.
Ripple also secured a partial legal victory as a U.S. judge paused certain claims in its case with the SEC, signaling progress toward a favorable outcome. If Gensler steps down, the SEC could drop its appeal, strengthening Ripple’s position further.
With the incoming Trump administration signaling support for cryptocurrency innovation and regulatory clarity, XRP stands to gain from possible advancements such as crypto ETF approvals. These developments paint a promising picture for XRP’s long-term trajectory.
Whale Accumulation Supports XRP’s Rally
Large XRP holders, commonly referred to as whale and shark wallets, are driving the bullish momentum. These wallets now hold 45.61 billion XRP tokens—the highest accumulation since June 2018.
Over the past two years, these investors have added 3.44 billion XRP to their holdings, signaling strong confidence in the cryptocurrency’s future.
The rising accumulation has fueled XRP’s remarkable 40% return in the last week, reaffirming the market’s renewed interest.
Influential voices in the crypto space, such as @MikybullCrypto, are forecasting further rallies, with predictions of XRP reaching new all-time highs by March 2025.
XRP Price Prediction: XRP Surges 75% to $1, Targets $1.16
XRP has broken out of a multi-month symmetrical triangle on the weekly chart, overcoming its $0.6250 resistance.
This bullish breakout, reinforced by a strong engulfing candle, has driven XRP above the $1 mark—a key psychological threshold that indicates growing upward momentum.
The breakout points to further gains, with immediate resistance at $1.16. A continued rally could see XRP testing $1.41 and $1.69, in line with Fibonacci extension levels.
On the downside, support is noted at $0.95, with stronger zones at $0.74 and $0.62 providing a cushion against any pullbacks.
Technical indicators back this bullish scenario. The RSI has climbed to 76.37, reflecting heightened buying interest, though caution is warranted at these elevated levels.
Additionally, the 50-day EMA, now at $0.6250, has transitioned into solid support, further validating the breakout.
XRP’s move above $1, combined with the symmetrical triangle breakout, suggests sustained bullish momentum. A hold above $1.16 could pave the way to $1.41 and $1.69, while any pullbacks toward $0.95 may serve as consolidation before another leg higher.
Conclusion
XRP’s surge past $1 has captured market attention, driven by both technical and fundamental factors. Rumors surrounding SEC Chair Gensler’s resignation and Ripple’s legal advancements have elevated confidence.
Additionally, whale accumulation underscores sustained interest in XRP as a long-term investment. With resistance levels at $1.16 and $1.41 in sight, XRP appears poised for further gains, though traders should watch for overbought conditions near-term.
With XRP gaining momentum, platforms like Crypto All-Stars highlight how blockchain technology is opening new doors for innovative investment opportunities.
XRP’s Surge Propels Crypto All-Stars to $3.96M Presale Success
Crypto All-Stars has surged past $3.96 million in its presale, just shy of its $3.98 million target. With 429% staking rewards and less than a day until the next price increase, investors are taking advantage of the current rate of 1 $STARS = $0.001568.
The platform leverages Bitcoin’s dominance, offering unique staking options integrating Bitcoin with popular meme coins, appealing to both Bitcoin enthusiasts and meme coin investors alike.
If you’re a meme coin holder looking to maximize your investment, Crypto All-Stars offers a compelling alternative to Sun Wukong. Visit the website to purchase $STARS with ETH, USDT, BNB, or even by card.
Follow them on social media – X (Twitter) | Telegram to stay up-to-date on all their development plans.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.- How Tether Co-Founder William Quigley Views Crypto Regulations in Trump’s Second Term
- Trump Appoints PayPal Veteran David Sacks as ‘White House AI and Crypto Czar’
- XRP Price Prediction: Here’s When Experts Say $1,000 Could Become Reality
- Ripple Behind Trump’s XRP Post? Could This Controversy Trigger a Rally to $1,000? (XRP Price Prediction)
- XRP Price Prediction: South Korean Investors Bet Big on Ripple, Can XRP Reach $5 in May?
Why Trust Cryptonews
Best Crypto ICOs
-
Solaxy (SOLX)
-
BTC Bull Token (BTCBULL)
-
Mind of Pepe (MIND
-
Best Wallet Token (BEST)
-
SUBBD (SUBBD)
More Articles
in numbers
