The third largest cryptocurrency in terms of market value, #XRP , is sailing towards new peaks.
As of January 16, $XRP , which managed to surpass its all-time high (ATH) on cryptocurrency exchanges Binance, Bitfinex and Kraken, was trading at $3.31 at the time of writing. The next stop of XRP, which has reached the ATH point after a seven-year hiatus, is a matter of curiosity. Some analysts, who think that XRP, which gained 11.5 percent in the last 24 minutes, has a long way to go, suggested that new peaks are coming soon.
Crypto analyst Steph Is Crypto claimed that an explosion occurred on the daily chart in her X post on January 14. The analyst said, “XRP successfully retested the breakout. The bullish target is $14, the conservative target is 5.”
“Three months in a row, the green mother has never come before”
The analyst, who claimed that XRP entered a price distribution for the first time since 2017, said, “XRP has exhibited only the second three-time green candlestick on top in history, and the current series may be much more critical than the period between March and May 2017.”
The basis of the increase in price is the optimistic atmosphere both in the crypto market and in XRP specifically. With the US inflation data for the annual December of last week's market prices, Bitcoin (BTC) rose to the $ 100,000 band again. BTC, which has increased by 1.93 percent in the last 24 years, is being traded at $ 101,623 in the news content.
Will the Trump administration's decision to reserve XRP come?
While the inflation data from the US boosted the morale of the markets, another development that pleased investors in XRP specifically came from #DonaldTrump . According to the New York Post, presidential decrees closely related to crypto fairs may be signed as soon as Trump takes office at the inauguration ceremony to be held on January 27. According to the news, Trump's new administration will prioritize recording US-based cryptocurrencies such as XRP, SOL and USDC. The possibility that other US-based cryptocurrencies will be used as reserves, such as Trump declaring Bitcoin, which is frequently presented in election possibilities, as a national reserve, is among the factors that "fly" the XRP price.
Will XRP's ETF service start soon?
Another reason for the spring atmosphere in XRP, which was traded at a value very close to its all-time high distribution as of January 17, is the emergence of the possibility that the US Securities and Exchange Commission (SEC) will approve XRP's exchange-traded funds (ETFs). The announcement of SEC Chairman Gary Gensler's permission as soon as he arrives according to Trump and the fact that crypto-friendly names will take office in the new cabinet created an optimistic atmosphere regarding XRP's possible ETF code. Likewise, in a statement made by banking giant JPMorgan last week, it was expected that assets worth $4 to $8 billion would advance through XRP's ETF products.
With Paul Atkins set to take over the seat vacated by Gary Gensler, and the creation of previously unseen roles such as the Trump administration's "crypto czar," the crypto-friendly atmosphere in the US may be strengthening XRP's hand in the nearly five-year-long legal battle. So much so that Ripple Labs CEO Brad Garlinghouse and Donald Trump met last week, and a photo from the conversation caused outrage on social media. The SEC claims that XRP is a long-term security and operates without the permission of the block to seize it individually.
"Standards in the XRP market can be further strengthened"
In 2023, Judge Analisa Torres ruled that Ripple's individual XRP sales did not constitute a securities organization, but decided to cut off the securities laws of sales made by institutions. Following this decision, the SEC argued in October 2024 that individual sales of XRP should also be considered securities by making a climate change. Ripple, in response to the SEC’s request, had objected to Judge Torres’ ruling on institutional sales, arguing that the Howey test was misplaced.
“XRP’s rise can be attributed to Ripple’s positive performance in the SEC case and a more crypto-friendly political climate in the US,” said Ryan Lee, chief analyst at Bitget Research, who spoke to Cointelegraph about XRP’s legal battle. “If the regulatory heaters burn out, the influx of institutional identities could further solidify XRP’s crypto assets.”
#XRPHits3 #TrumpCountDown #BTCBackto100K