XRP Maintains a Bullish Trend

Despite recent news about the launch of Ripple’s RLUSD stablecoin, which did not significantly impact XRP’s price, analysts remain optimistic. Renowned analyst Alex Clay highlighted XRP’s strong macro chart, citing a recent breakout above a key resistance zone on the monthly chart.

Breaking $2 Opens the Door for Growth

According to Clay, XRP recently surpassed the $2 level, which has historically been a significant resistance during bullish cycles in 2018 and 2021. Since December 1, XRP has consistently traded above this level, indicating a "highly optimistic" market outlook, as per the analyst.

This breakthrough suggests that XRP could potentially reach double-digit prices in the current cycle.

Three Price Targets for XRP

  1. First Target: $5.365
    This target aligns with the Fibonacci 1.618 level. To reach this price, XRP would need a 251% increase from its current value.

  2. Second Target: $8.623
    Corresponding to the Fibonacci 2.618 level, XRP would require a 414% rise to achieve this target.

  3. Third Target: $10
    Alex Clay believes that $10 is achievable, representing a 509% increase from current levels.

Other analysts have also identified technical breakouts in XRP’s chart, further supporting these ambitious price predictions.

Factors Influencing XRP’s Price

Currently, XRP is trading at $2.11, having lost much of the gains from the initial RLUSD announcement. After briefly spiking to $2.72, XRP retraced due to market instability, as Bitcoin hovered around $100,000.

Key Upcoming Events:

  1. Resolution of Ripple’s Lawsuit
    Many investors are waiting for the conclusion of Ripple’s multi-year legal battle with the SEC, which could ignite the next phase of bullish momentum.

  2. Approval of an XRP ETF
    The pro-crypto Trump administration and newly appointed SEC chairman Paul Atkins are expected to pave the way for an XRP-based ETF.

Conclusion

Despite current market volatility, XRP remains in a bullish position, with analysts viewing the $2 breakout as a key milestone for further growth. If expectations surrounding the lawsuit resolution and ETF approval are met, the path to $10 may become a reality.

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