Donald Trump’s election win, an anticipated conclusion to the SEC lawsuit and an expected stablecoin project may have contributed to the XRP price surge.
XRP has made a historic comeback as the third-largest coin by market cap, the number of “XRP” Google searches breaking above “crypto.”
XRP could be in the midst of a “leverage-driven” pump as the price of the asset soars to reach new yearly highs.
Bitcoin’s strength has pulled several altcoins higher, with SHIB, FIL, MNT, and AAVE showing promise in the near term.
According to CoinMarketCap, Ripple's native XRP token has a maximum supply of 100 billion and a circulating supply of roughly 57 billion.
Pump.fun’s weekly revenue peaked at $33 million in November before dropping to $11 million the following week.
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Grayscale’s cryptocurrency gains are another sign of an incoming altcoin season, which may lead to an XRP rally of $2.57 before the end of 2024.
XRP's technical analysis points to a potential 20% price decline in December, with overleveraged positions likely exacerbating the downward pressure.
Analysts are expecting Ether and altcoins like XRP to stage a significant rally leading into Trump’s inauguration on Jan. 20, which also marks the last day of SEC Chair Gensler.