Donald Trump

strong bull

Ripple price is in a strong bull run, fueled by positive momentum and favorable ecosystem developments. 
Ripple (<a rel="" href="https://crypto.news/price/xrp/">XRP</a>) has risen for four consecutive weeks, reaching $1.70, its highest level since May 2021. The token has surged by over 240% this month, pushing its market capitalization above $96 billion. 
XRP’s rally stems from strong fundamentals, including significant legal victories and favorable political developments. Ripple won a major court case against the SEC in July last year, followed by a court ordering the company to pay $250 million. This represents a much smaller figure than the $2 billion initially sought by the SEC. 
The SEC has signaled a potential appeal, but optimism is growing that the incoming SEC Chair may not pursue further action. Reports suggest President-elect Donald Trump <a rel="" href="https://crypto.news/former-commissioner-paul-atkins-is-top-candidate-for-sec-chair/">is considering Paul Atkins</a>, a former commissioner with a pro-crypto stance, as the next SEC chair. 
Investors are also bullish on upcoming potential catalysts. These include the possibility of a spot XRP ETF approval, anticipated under the next administration, and Ripple Labs’ potential Initial Public Offering. 
Additionally, Ripple is developing a stablecoin called RLUSD which is backed 1:1 to the US dollar. Expectations are this venture could significantly boost the ecosystem’s revenue. 
 You might also like: <a rel="" href="https://crypto.news/can-the-xrp-price-realistically-jump-to-10-in-2024/"> Can the XRP price realistically jump to $10 in 2024? </a> 
<h2 class="wp-block-heading" id="xrp-price-is-getting-overbought">XRP price is getting overbought</h2> 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/11/XRP-Price-4.png" alt="XRP price" class="wp-image-14314978">
 <figcaption class="wp-element-caption">
 Ripple price chart | Source: <a rel="" href="https://crypto.news/price/xrp/">crypto.news</a>
 </figcaption>
</figure> 
The weekly chart reveals a strong uptrend for Ripple in recent weeks. The token recently broke past key resistance at $0.9340, its highest level in July 2023. It also surpassed the psychological $1 mark and the 50-week and 100-week moving averages. 
However, technical indicators suggest caution. The Relative Strength Index and Stochastic oscillator have moved into overbought territory, signaling the potential for a brief retracement in the coming days. 
The next potential target for the XRP price is $1.9716, its April 2021 high, followed by $2. In the long term, as Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) has done, Ripple could jump to a record high of $3.5, which is about 110% above the current level. 
 You might also like: <a rel="" href="https://crypto.news/xrp-price-sparks-interest-in-rwa-rival-ready-for-34500-surge/"> XRP price sparks interest in RWA rival ready for 34,500% surge </a>

How high can Ripple’s XRP price get in December 2024?

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