XRP Price Analysis: XRP Price UP by 33% in 1 DAY

Ripple's XRP token has surged 33% in the past 24 hours, trading at $1.50, with a market capitalization of $85.12 billion.

Ripple's XRP token experienced a noteworthy 33% surge in value over the past 24 hours, reaching $1.50 with a market capitalization of $85.12 billion. This rally outpaced both Bitcoin and Ethereum, bringing XRP back into the limelight. Several key factors contributed to this substantial price increase, including major market developments, legal updates, and growing investor confidence in XRP's long-term potential.

XRP Price Analysis: 33% Surge in 1 DAY

Ripple Partnership and Financial Inclusion Boost XRP Demand

Ripple has expanded its collaboration with Mercy Corps Ventures through the Unlocking Opportunity initiative, which aims to enhance financial inclusion in emerging markets. This program utilizes the XRP Ledger (XRPL) and Ripple's upcoming USD stablecoin (RLUSD) for innovative use cases such as savings, remittances, and tokenizing real-world assets. With Ripple committing over $5.5 million to this initiative, XRP adoption is expected to increase, potentially driving up its demand and market value.

Gensler’s SEC Resignation Sparks Optimism

Another factor contributing to XRP's rally was the announcement of SEC Chair Gary Gensler's resignation, effective January 20, 2025. The SEC's legal battles with Ripple have impacted XRP's price for years, but Gensler's departure suggests a potential resolution. Market optimism around reduced litigation risks has energized the "XRP Army," with liquidations reaching $26.11 million, triggering a short squeeze that further propelled XRP’s value.

Strong Technical Indicators and Bullish Patterns

A glance at XRP's technical analysis reveals bullish momentum, with a break above key resistance levels at $1.15 and $1.20. The price formed a bull flag pattern, indicating potential upward momentum. At current trading prices of $1.50, analysts anticipate XRP could soon test the $2 resistance level. Key indicators like the Relative Strength Index (RSI) suggest continued strong momentum.

XRP Price Prediction: Can it reach $2 by Week End?

XRP’s Legal and Market Prospects

As Gensler departs and a favorable legal environment emerges under the anticipated Trump administration, analysts expect the SEC to reconsider its stance on Ripple. A settlement could allow Ripple to operate freely, opening up new growth opportunities for XRP. Additionally, the approval of a spot XRP ETF in the U.S. is another potential bullish driver, following the success of similar products launched in Europe.

XRP Price Target: $2 and Beyond

Market confidence continues to build, with some analysts predicting that XRP could achieve $8 to $13 in the long term. Having rebounded substantially, XRP is now closing in on its all-time high of $3.84, set on January 4, 2018. If the current momentum persists, XRP’s market cap could exceed $100 billion, solidifying its position as a leading cryptocurrency.

XRP’s remarkable 33% rally is attributed to a combination of positive developments, including legal optimism, expanded partnerships, and strong technical momentum. With its current trading price at $1.50 and bullish market conditions, XRP seems set for continued growth, possibly breaching the $2 threshold in the near term.