Over the past 30 days, $XRP has experienced significant volatility, with its price increasing by approximately 282%, from $0.5557 on November 10, 2024, to $2.13 on December 10, 2024.
This surge is largely attributed to investor optimism following President-elect Donald Trump's victory, as his administration is expected to adopt a more crypto-friendly regulatory stance. Notably, the appointment of Paul Atkins, known for his favorable view on digital assets, as the new SEC chair has bolstered expectations that the ongoing SEC lawsuit against Ripple Labs, the issuer of XRP, may be resolved favorably.
Despite reaching a peak of $2.90 on December 3, 2024, XRP's price has experienced fluctuations, including a 7.6% decline to $2.38 on December 9, 2024. These movements are partly due to traders securing profits after substantial gains.
Technical analysis indicates that XRP is completing an ABC corrective wave pattern, suggesting a potential breakout to new all-time highs, with targets of $5.85 and possibly $18.22.
In summary, XRP's recent performance reflects a dynamic interplay of political developments, regulatory expectations, and market sentiment, positioning it as a focal point in the cryptocurrency landscape.