XRP has shattered the $1.50 mark, rising 10% in the past 24 hours to reach $1.53. This comes on the back of a multiweek bullish run fueled by positive developments in the regulatory landscape, including SEC Chairman Gary Gensler's decision to step down in January.
XRP Price Analysis: Explosive Weekly Performance
Over the past week, XRP has seen an astounding 50% increase in value. The token’s recent gains peaked in early Asian hours, with a 10% jump, reaching a current price of $1.53.
XRP/USD 4-hours chart - TradingView
Bullish Sentiment on SEC Changes
The announcement of SEC Chairman Gary Gensler's resignation has created a bullish environment for cryptocurrencies. Market participants are increasingly optimistic about a crypto-friendly regulatory shift in the United States.
XRP Price Prediction: Ripple Targets
With $1.50 surpassed, analysts suggest XRP's next major resistance lies around $1.70. The buying frenzy could push prices higher, provided the positive sentiment continues. However, traders should watch for potential pullbacks amid profit-taking.
XRP/USD 4-hours chart - TradingView
Ripple’s Position in the Crypto Ecosystem
Ripple’s growing market relevance, coupled with favorable regulatory shifts, has cemented its place as a top performer. As the market adapts to the changing landscape, XRP remains a token to watch.
