XRP Price Breaks Key Resistance: Can It Keep the Momentum Going?
Ripple-affiliated XRP has been on an impressive upward trajectory, now approaching a critical resistance point near $1.60. Let’s explore what’s driving this surge and what might come next for the token.
Strong 24-Hour Performance
In the last 24 hours, XRP surged by 6%, outperforming every cryptocurrency in the top 10. Bitcoin, in comparison, gained only 0.4%. XRP has also seen a massive 207% rise in November, poised to log its best-performing month since December 2017.
Currently XRP price Trading at as per Coinpedia Markets data.
For a more detailed XRP Price Prediction and insights on XRP’s next moves, check out our full analysis.
The $1.60 Resistance Level
XRP is nearing a key resistance level at $1.60. If it breaks through this barrier, it could trigger a rally, pushing the price closer to $2.
Growing Market Capitalization
XRP’s market cap is approaching $100 billion. It briefly surpassed Ethereum (ETH) in 2018 to become the second-largest cryptocurrency. Currently in fifth place, it trails BNB and Solana (SOL).
What’s Driving XRP’s Rally?
Several factors are fueling XRP’s rise. One of the main drivers is the growing buzz around XRP exchange-traded funds (ETFs) in the U.S. WisdomTree recently applied to launch an XRP ETF, with approval likely on the horizon.
Additionally, the expected departure of anti-crypto SEC Chair Gary Gensler has added to the optimism. Former SEC Commissioner Paul Atkins, seen as more crypto-friendly, is the likely replacement.
XRP’s recent listing on Robinhood for U.S. users has also expanded access to retail investors, boosting demand.
Will XRP Reach $2?
If XRP breaks key resistance levels, it could push toward $2. The growing adoption of XRP, potential ETF approval, and shifting regulatory conditions all support this bullish outlook.
XRP’s recent performance has captured attention, with a strong price surge and growing market cap. With key catalysts ahead, XRP could continue its climb, but market conditions remain unpredictable. Watch the $1.60 resistance level—it may determine the token’s next move.