XRP Reaches $1, Rises 75% This Week, Eyes 2024 Highs

XRP surpassed $1.04 with a $15 billion trading volume, up 15% in 24 hours and 75% this week. This rise is due to SEC Chair Gary Gensler's possible departure and Ripple's legal advancement.

Known for his strong position on cryptocurrencies, Gensler hinted at leaving away during a speech reflecting on his career, boosting expectations for a crypto-friendly SEC.

Ripple also won a partial legal success when a U.S. court halted some SEC lawsuits, indicating improved odds. If Gensler resigns, the SEC may abandon its appeal, boosting Ripple.


With the new Trump administration supporting cryptocurrency innovation and regulatory certainty, XRP may benefit from crypto ETF approvals. These trends suggest XRP's long-term success.

XRP's rally is driven by large XRP holders, known as whale and shark wallets. These wallets have 45.61 billion XRP tokens, the most since June 2018.


XRP's 40% rise last week was driven by increased accumulation, underlining market interest.


Crypto experts like @MikybullCrypto expect XRP to hit new highs by March 2025.

Prediction: XRP Rises 75% to $1, Targets $1.16
A multi-month symmetrical triangle on the weekly chart has broken for XRP, breaking $0.6250 resistance.

This bullish breakthrough and big engulfing candle have lifted XRP beyond $1, a psychological level that suggests upward momentum.


Breakout suggests additional increases, with $1.16 resistance. XRP might target Fibonacci extension levels at $1.41 and $1.69 if it rallies.

Lower support is $0.95, with firmer zones at $0.74 and $0.62 cushioning pullbacks.

Technicals support this bullish situation. The RSI is at 76.37, indicating increased purchasing interest, although care is advised.


Both XRP's climb over $1 and the symmetrical triangle breakout indicate continuing bullish momentum. A hold over $1.16 might lead to $1.41 and $1.69, while pullbacks toward $0.95 may represent consolidation before another push upward.

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