In recent weeks, the price of XRP has been moving within an upward trading range 📈, reflecting a strong positive trend for this cryptocurrency 💎. This rise coincides with the improvement in the overall market performance 🌍, which supports the positive momentum in favor of XRP. Analysts expect this trend to continue, as they see the possibility of a breakout that could push XRP to reach $10 levels 💰🚀.

Why XRP Price Could Rise to $10? 🤔📊

XRP has managed to break out of a downtrend that has been ongoing since 2018 ⬆️, reinforcing expectations of strong price action in the future 🌟. This breakout is a milestone 🛑, as Fibonacci extension levels indicate ambitious price targets 🎯.

According to technical analysis, the first target is at the 161.8% Fibonacci extension level, which indicates a price of $1.88 💵. From there, the analysis expects higher levels such as the 261.8% at $5.85 and the 361.8% extension at $9.10 💸. As XRP enters new price zones, the likelihood of its valuation rising 🪙📈 increases.

Possible Reasons Why XRP Reaches $10 🤩

Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), has announced his plans to resign by January 20, 2025 🗓️, the day after the inauguration of the new US President 🇺🇸. Gensler's tenure as chairman has been marked by tighter regulation of cryptocurrencies ⚖️, making his resignation a major event that has raised expectations in the crypto community 🤝.

Speculation suggests that Brian Brooks, the former CEO of Binance 🏦 and a board member of the Hedera Foundation, could be a potential successor to Gensler 🤵. Brooks is known for his support of innovation in blockchain technology 🔗, including XRP, making his potential appointment a positive development that could impact the crypto market as a whole 🌐.

XRP's recent performance and role in the market 📉➡️📈

Over the past few weeks, XRP has surged by 40% in a week and 180% in a month 🌟💹. The coin has surpassed the $1 level after trading at just $0.60 💵. This upward trend shows strong momentum as Bitcoin crosses the $98,000 barrier 🔥, which has contributed to boosting confidence in the cryptocurrency market as a whole 🌈.

If the upward pressure continues 💪, it could push XRP to new highs of up to $10 in the current session 🌟🚀. Market sentiment remains bullish, as Ripple continues to cement its position as a major player in the cryptocurrency sector 🏅.

How much XRP do you need to become a millionaire if the price reaches $10? 💰🪙

To make $1 million when XRP hits $10, you would need to own 100,000 XRP tokens. Currently, with XRP trading at $1.48, buying that amount would cost you around $148,000. This calculation makes the idea attractive to investors who believe that XRP can make this price jump, especially with the bullish momentum and positive developments in the market. 🚀

Conclusion 📝

With bullish momentum 📈, potential regulatory improvements ⚖️, and overall market performance 🌐, XRP is positioned for significant growth 💪. With key resistance levels broken and positive developments continuing 🔔, $10 could become a realistic target 🎯, cementing XRP’s position in the evolving digital financial ecosystem 💎🌍