Ripple's price has been on the rise for the past three days, reaching $2.40, the highest level since December 18. This surge can be attributed to several factors. Firstly, the incoming administration of Donald Trump, with Paul Atkins named as the potential head of the Securities and Exchange Commission, who has shown support for the crypto industry. Additionally, there is increasing speculation that an XRP ETF may be approved by the SEC, with odds rising to 70%. Ripple's ecosystem is also expanding, with its stablecoin RLUSD being added to multiple exchanges, and the XRP Ledger expected to gain traction this year. The January Effect, where investors return from holiday and buy assets, is also contributing to the price surge. Technical analysis suggests that the price is likely to continue climbing, with a target of $2.90, and potentially even reaching $5. However, a decline below the 50-day moving average at $1.90 would invalidate this positive outlook.



Other News from Today