XRP is gaining attention, with a well-known expert predicting its price will reach around $4, a historic high. XRP has joined the ranks of the cryptocurrency market's rebound, recently reaching $0.5740, an 11% increase from yesterday's $0.514.
Bitcoin's record surge has provided a boost to the broader market, and XRP is capitalizing on this momentum to drive its price higher. For many investors, this is an encouraging sign that altcoins may eventually reclaim their peak price points.
However, market momentum is not the only factor at play. Analyst CoinsKid, known for his large following on the social media site X, recently published an analysis indicating that XRP's rise may have even greater potential for development. Through two years of weekly charts, CoinsKid identified significant resistance and support levels, suggesting it may break through to new highs.
Notable technical points
CoinsKid's charts show three major resistance points for XRP: $0.94, $1.50, and $2.50. These levels are crucial as they have historically been the upper limits for XRP. For example, in July, the token fell back to the $0.94 peak after a court ruling declared the asset not to be a security. This was an important milestone, but excitement faded when the price failed to hold above this level.
Analysts believe XRP will break through these resistance points without needing to retest the lower support level of $0.3798. According to CoinsKid, if altcoins continue their current trend, they could eventually reach a high of about $4. For investors, this could mean substantial profits, especially if the market maintains its current bullish tone.
Regulatory hopes enhance optimistic sentiment
The legal environment in the U.S. is another factor that has people feeling positive about XRP. Recent reports indicate that elected President Donald Trump will take office in January 2025, replacing Gary Gensler as the Chairman of the SEC.
Many in the cryptocurrency space are closely watching this theory, especially XRP enthusiasts, who believe Gensler's exit will foster a more positive outlook on altcoins and cryptocurrencies.
Trump's restructuring of the activities of the U.S. Securities and Exchange Commission has also increased this optimistic sentiment. Many believe that removing Gensler will give XRP enough freedom without being affected by too many legal obstacles. This shift in the regulatory environment is likely a significant victory for XRP, thereby driving up the price.
Bright prospects for future price predictions
Looking ahead, the price predictions for XRP also appear very optimistic. Analysts predict a 14% growth over the next three months, with a higher potential growth rate of 160% over six months. A one-year forecast means the asset could achieve returns of over 100%. Given that Bitcoin has already opened up new fronts and XRP's fundamentals are strong, the $4 target does not seem out of reach.
Ultimately, the combination of technical resilience, market momentum, and future regulatory reforms could propel XRP into unprecedented territory. For XRP holders, this could be an exciting journey, as many believe it will reach historical highs.
