XRP (XRP) Price Analysis: Rally Continues as Bulls Target $4, Pre-Election Regulatory Hopes Boost Optimism

XRP is gaining traction, with one well-known expert predicting an all-time high in the $4 region.

XRP is rallying and showing no signs of slowing down, with one well-known expert predicting an all-time high in the $4 region.

The cryptocurrency has joined the broader crypto market rally, recently surging to hit $0.5740, up 11% from yesterday’s price of $0.514.

Bitcoin’s record-breaking surge has provided a broader market boost, and XRP is capitalizing on this momentum to drive its price higher. For many investors, this is an encouraging indicator that the altcoin may ultimately recapture its upper price points.

However, market momentum is not the only factor at play here. Analyst CoinsKid, known for his vast following on social media site X, recently posted an analysis indicating that the XRP rally may have more potential to unfold. Using a two-year weekly chart, CoinsKid highlighted key resistance and support levels, suggesting that it could rally to new highs.

Is #xrp on its ways to $4? a new all-time high for this #crypto!

Hold the green line and take out the orange line and a run to the upper red line would not surprise me.

Best of luck CKC ? pic.twitter.com/NYBl2igF9g

— CoinsKid (@Coins_Kid) November 6, 2024

Technical Points To Watch

CoinsKid’s chart identifies three major XRP resistance points: $0.94, $1.50, and $2.50. These levels are crucial because they have historically acted as ceilings for XRP. For instance, in July, the coin peaked at $0.94 before pulling back, following a court ruling that classified the asset as not being a security. This was a major milestone, but the excitement quickly fizzled out when the price failed to remain above this level.

The analyst suggests that XRP will continue to rally through these resistance points without needing to retest the lower support level of $0.3798. If the altcoin continues on its current trajectory, it could eventually rally to a top of around $4, according to CoinsKid. For investors, this could意味着丰厚的利润，尤其是如果市场继续保持当前的看涨基调。

Regulatory Hope Boosts Optimism

The legal landscape in the U.S. is also boosting optimism for XRP. Recent reports indicate that President-elect Donald Trump will be replacing Gary Gensler as SEC Chairman once he takes office in January 2025.

This speculation is being closely followed by many in the crypto space, especially XRP fans who believe that Gensler’s departure will bode well for a more positive outlook on the altcoin and cryptos at large.

Further adding to this optimism is the Trump campaign’s pledge to overhaul the SEC. Many believe that Gensler’s removal will give XRP ample freedom to operate without many regulatory hurdles. Such a shift in the regulatory outlook could be a major win for XRP, driving its price up.

Future Price Predictions Look Bright

Looking ahead, the price predictions for XRP also paint a bright picture for the cryptocurrency. Analysts anticipate a 14% increase in the next three months, and its potential growth in six months is much higher, at 160%. A one-year projection would see the asset yield returns of over 100%. This puts the $4 target within reach, especially considering Bitcoin’s record-breaking rally and XRP’s strong fundamentals.

In conclusion, a combination of technical strength, market momentum, and upcoming regulatory changes could propel XRP to new highs. For XRP holders, this could be an exciting ride to what many believe will be a new all-time peak.

Featured image from DALL-E, chart from TradingView

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