The XRP price surged to $0.7463 on Wednesday, reaching its highest level since March 12 after Robinhood added it back to its platform. Ripple’s token also surged after Bitcoin jumped to a record high and after the crypto fear and greed index moved to the extreme greed zone of 85.
Ripple news today
The biggest Ripple news today was a statement by Robinhood, which said that it would add the coin back to its ecosystem. This was big news since it is one of the most active brokers with over 11 million monthly active users.
In addition to XRP, the company added Solana, Pepe Coin, and Cardano, which it delisted a while ago because of fears that they were securities. The relisting is a sign that the company expects friendlier regulations from the incoming Donald Trump administration.
Trump has a skin in the game in the crypto industry. He owns cryptocurrencies worth over $6 million and is the majority owner of the World Liberty Finance project that has raised over $16 million from investors.
Therefore, there is a likelihood that the Securities and Exchange Commission (SEC) will change its view on what a token is. It will also not send Well’s Notices to companies like Robinhood and Coinbase for offering these services.
The other potential catalyst for the XRP price is that the SEC may decide to end its appeal against a judgment by a New York court. Such a move will see the developers to continue growing the ecosystem by inking partnerships with large financial services companies.
The other Ripple news is that the developers are working to grow the ecosystem by launching new services. One of the most anticipated solutions is the RLUSD stablecoin, which Ripple hopes will become as successful as Tether and USD Coin.
Can the XRP price hit its all-time high?
The daily chart shows that the Ripple price is doing well, rising to the key resistance level at $0.7463, its highest level since July 2023. XRP also crossed the important resistance level at $0.6660, its highest swing on September 28.
Most importantly, Ripple has formed a golden cross pattern as the 200-day and 50-day moving averages have crossed each other. This is one of the most bullish signs in the market.
XRP also wants to move above $0.7463, where it failed to move above on March 11 and November 13. As such, crossing that level will point to more gains in the near term. Ripple’s MVRV indicator has moved to 2.7, signaling to more gains ahead.
Therefore, the path of the least resistance for the price of Ripple is bullish, with the next target to watch being at $0.9330, its highest level this year, which is about 35% above the current level.
It is unlikely that the XRP token price will jump to the all-time high of $3.54, which is about 412% above the current level.
FAQs
What is the most realistic Ripple price prediction?
The most likely scenario is where the XRP price jumps by 35% to a high of $0.9330 followed by $1 in the near term.
Will the SEC approve an XRP ETF?
Under Trump, the SEC is expected to approve several ETFs, of which XRP may be one of them. Besides, XRP is one of the biggest and most liquid cryptocurrencies in the industry.
