đ XRP Skyrockets 16% â Can It Hit $1 Soon?
XRP has surged 16.6% in the past 24 hours to $0.8035, leading the crypto market with 45.9% weekly gains, reaching its highest price since July 2023. Whatâs behind this bullish momentum?
đ Why Is XRP Pumping?
1ïžâŁ Regulatory Optimism: Trumpâs election has fueled speculation about SEC Chair Gary Genslerâs departure. Rumors suggest his resignation could ease regulatory pressure, particularly in the Ripple case.
2ïžâŁ Crypto Tax Incentives?: Social media buzz hints that Trump might eliminate capital gains taxes on U.S.-issued cryptocurrencies, potentially boosting tokens like XRP.
3ïžâŁ Big Adoption News: SociĂ©tĂ© GĂ©nĂ©raleâs digital arm, SG-FORGE, announced deploying its euro-backed stablecoin, EURCV, on the XRP Ledger (XRPL).
đ„ Deviating From the Market Trend
While Bitcoin, Ethereum, and other major cryptos dropped 4-6% due to profit-taking and hawkish Fed comments, XRPâs momentum stands out.
đ Analysts Are Bullish
âą Short-Term: Analyst Dark Defender projects XRP could hit $1.03 by the end of the week if it holds above $0.76.
âą Long-Term: Trader BigMike sees a breakout from a multi-year triangle pattern, suggesting a potential rally to $8 this cycle.
đŹ Whatâs Your Prediction? Will XRP reach $1 this week or surprise us with even bigger gains? Share your thoughts below!