XRP price is currently trading around $2.75, testing a crucial resistance level at $2.73. A successful breakout above this point could indicate the start of a bullish trend, potentially driving the price toward recent highs of $2.90.
Analyst Conor Kenny noted on his YouTube channel that XRP looks good and this moment is pivotal for Ripple, suggesting that a breach could propel the XRP price closer to its all-time high.
Changes in Rules Helping XRP and Hopes for ETFs
The SEC chief, Gary Gensler, is leaving, and this might mean easier rules for cryptocurrencies like XRP. Before he goes, the SEC is busy with a lawsuit against Elon Musk, which makes people wonder if they’ll be less tough on crypto soon.
Many think the SEC has been a roadblock for XRP, so new, friendlier rules could help XRP grow.
JP Morgan says we might see ETFs for other coins like XRP soon, predicting these could bring in $14 billion, with XRP getting $4 to $8 billion. This could boost XRP’s price and make more people interested
READ ALSO: Stellar (XLM) Price Could Surge Over 50% If This Breakout Occurs
XRP has moved out of a “wedge” shape on the charts and is trying to go up again. It’s making higher points, which is a good sign. After dipping a bit, the XRP price has jumped up 15%, which could be a good chance for traders to make money.
.XRP price is positioned for potential growth as it tests critical resistance levels and benefits from shifting regulatory dynamics. With strong technical indicators and the possibility of significant market inflows from ETFs, XRP’s outlook appears increasingly favorable.
