It is known that lately, the XRP cryptocurrency broke through key resistance levels, thus opening the door to future potential. The price has broken over the mark of $2.50, shooting more than 5% with an all-time high of $2.875. At the moment, the price has started consolidating above the $2.550 mark, and from the 100-hourly Simple Moving Average (SMA), it still presents a strong picture.
Support appears at $2.60 following the development of a bullish trend on the hour charts for the pair XRP/USD. As long as the price is above this key support, XRP can go higher. The next big resistance is seen at the $2.875 level, and if this breaks above, then a rise towards $3.00 could be expected, which could send the price to new highs near $3.120 or $3.200 in the short term.
Nevertheless, downside correction is possible too. If XRP fails to break through the resistance at $2.875, then it may fall toward $2.750 and eventually toward $2.60. A break below that threshold may take it toward $2.50.
On the technical side, too, there is also a positive reading for bulls as the Hourly MACD moved further into the positive territory while the RSI remains above 50, with plenty of upside scope.
Market experts, such as trader Javon Marks, are also forecasting a big jump for Coin, potentially even surpassing all-time highs to $10. Furthermore, Ripple Labs, the company that develops XRP, will also benefit from the pro-crypto regulatory environment of the new administration of President-elect Donald Trump. Within months from now, XRP will get a little freer hand courtesy of the SEC with the introduction of pro-crypto policies so it will even contribute to enhancing the market performance of it.
By bringing the investor sentiments higher, the XRP could be seen showing its way into a great bull run all year round of the year 2025.
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