The XRP cryptocurrency has experienced a strong bullish momentum, reaching its highest level since March 14 at $0.6985. The rally is attributed to optimism in the crypto industry and coincided with a broader market rally that pushed the total market cap of all coins past $3 trillion. Ripple's rally is also linked to the anticipation of a crypto-friendly regulator being appointed under the Biden administration, potentially easing the network's legal issues. The end of Ripple's legal battle with the SEC could accelerate the network's growth and pave the way for deals with financial services companies. Furthermore, hints about the upcoming launch of a dirham stablecoin and a surge in XRP futures open interest indicate growing demand. Technical analysis suggests that XRP's price could continue rising, with a target of $1, representing a 56% increase from the current level.



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