Ripple (XRP) is expected to experience significant upward price movement in the ongoing bull cycle due to several factors. The token has risen by 375% since September and is approaching its 2020 high. The incoming Biden administration is expected to implement friendlier cryptocurrency regulations, potentially leading to the approval of an XRP-based exchange-traded fund (ETF). The current SEC Chair, known for his anti-crypto stance, is expected to be replaced by someone more supportive of digital assets. XRP's open interest in the futures market is also increasing. Technical analysis suggests that XRP has formed a bullish pattern and is likely to continue rising, with key resistance at $2.90 and a possible target of $5.



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