$XRP May Surge 40% as ‘Trump Effect’ Boosts Ripple Sentiment

A "descending triangle" pattern in technical analysis points to bigger gains for the top-performing major token.

Updated Jan 9, 2025, 8:30 a.m. UTCPublished Jan 9, 2025, 7:34 a.m. UTC

XRP has formed a "descending triangle" pattern since its peak near $2.9 in early December. According to technical analysis, a bullish breakout from this pattern could lead to a 40% or more price increase, resuming the upward trend from early November when XRP was near 50 cents.

The expectation of a crypto-friendly policy under Trump, following his election, has led to a significant price surge in XRP, increasing over 300% since November.