- XRP has climbed once again to the third position in the crypto market.
- The altcoin is expected to benefit greatly under the Donald Trump administration.
- Analyst Tony Severino showed that a $13 price tag is possible for XRP by cycle end.
XRP has reclaimed its position as the third-largest cryptocurrency, trading at $2.41 with a 2.42% increase over the past 24 hours. Its market capitalization has surged to $138 billion. XRP briefly reached a daily high of $2.47 but encountered resistance at $2.5, a key level it has struggled to surpass.
According to CoinMarketCap data, XRP’s all-time high of $3.84 occurred seven years ago. Since then, it has failed to break above $3, which remains another resistance point for the altcoin. However, the $2 price level acts as significant support, providing stability during market corrections.
Ripple vs. SEC: A Battle That Shapes XRP’s Future
XRP’s price stagnation before 2024 is largely attributed to Ripple’s ongoing legal dispute with the United States Securities and Exchange Commission (SEC). The SEC alleges that Ripple’s sale of XRP tokens to investors violated U.S. securities laws.
With the pro-crypto Trump administration set to take office, optimism is growing. Paul Atkins, the incoming SEC Chair, alongside crypto-friendly Commissioners Mark Uyeda and Hester Peirce, could bring a resolution to the lawsuit. A favorable outcome may drive XRP prices significantly higher.
Read also :Ripple Unlocks 500M XRP as Trump’s Crypto Agenda Boosts Market Sentiment
XRP Price Predictions and Bullish Indicators
Predictions for XRP breaking its all-time high of $3.84 are gaining traction. Analyst Tony Severino highlights a bullish flag pattern on XRP’s daily chart, suggesting the altcoin could reach $13. While Severino acknowledges this target as ambitious, he believes it is achievable within the year.
According to the XRP daily chart, the Relative Strength Index (RSI) stands at 60.57, indicating bullish control. However, the momentum appears sluggish, with short-term gains likely before any significant price movements.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
