But a sharp selling amid the wider market slump has shown that XRP has fallen 25% over the past week.
Analysts believe XRP needs to test some support and resistance levels before it breaks out of its current integration phase.
With a move below US$2, if XRP drops by US$1.30, growth of over US$2.70 will allow the project to regain its previous momentum.
XRP was the biggest story of the year…until not.
The long-term digital currency has endured a tough decade after the Securities and Exchange Commission and legal action from stalled growth.
All of this was quickly forgiven in the election of Donald Trump as President of the United States. As investors speculated that the new look of SEC would be a little more tolerant, the theory was that XRP days, engaged in legal disputes, would end.
It was as if spring had blossomed after a long, cold winter, and the bees were ready to pollinate hell from XRP.
XRP Quintring prices in a few weeks, exceeding USD 3.30 ($5.25).
As Trump contemplated adding XRP to his strategic crypto sanctuary, the stars appeared to be in line with the Ripple Labs project while the agency filed its XRP ETF.
Related: XRP ledger recovers from network issues as XRP falls below $2.40
XRP police officer hit the ball after Trump’s tariff slump
XRP was perhaps the most difficult project in the top 10 recent Crypto sales.
Tokens have fallen 26% over the past seven days, falling below USD 2 (au $3.18) after the network outage.
Investors are surprised that there could be time in the sun during the dramatic week of XRP.
But remember, it was only two months ago that the token was trading for just USD 0.60 (au $0.96). With current drops, XRP trading is about four times higher than in November. It’s a pretty impressive return by anyone’s standards.
Therefore, a revision period after such a large profit is expected while investors determine the value of XRP under the Trump administration and continue to earn profits.
XRP tests critical support and resistance levels before trends become clear
None of this really answers everyone’s lip questions: what’s next for XRP?
Are we going to see more sideways movements, is 2 US dollars a bargain or is it even sharper drops along the way?
Clearly, the macroeconomic outlook is pretty unstable for now, and forecasting the future depends on how easily it takes on the market for fear (or winding up) of Trump’s fiscal policy.
In the vacuum, some analysts suggest that XRP should retest its support and resistance levels before a clear understanding of how the market is tilting.
The coin received serious support, particularly in Korea, at 2 US dollars (AU$3.18), but another DIP below this point could lead to short-term pain.
On the other hand, if the XRP can break through the ceiling of 2.70 USD ($4.30), the card may have some serious growth.
Unfortunately, be honest – the crypto market is not actually in its own right now. Once the market settles into Trump’s presidency, things become a bit clearer and a move of consent in its own right.
But for the time being, we’ll have to sit and watch for a moment.