Token

Momentum

April

<ul class="wp-block-list"> 
 <li><strong>XRP’s price has risen from $1.59 to $1.94 in the last 24 hours, a level not seen since April 2021.</strong></li> 
 <li><strong>XRP’s market cap surpassed $100 billion, flipping Binance’s BNB to the 5th spot in crypto rankings.</strong></li> 
</ul> 
<p>On the last day of the November bull run, Ripple’s native cryptocurrency, XRP, showed incredible performance by reaching a level not seen since April 14th, 2021 ($1.96).</p> 
<p>Over the past 24 hours, XRP’s price has jumped by more than 19%, reaching an intraday high of $1.94, up from a low of $1.59. The impressive rally has propelled XRP’s market cap to an astounding $109 billion, leading it to surpass Binance’s BNB to secure the 5th spot in the crypto rankings. Additionally, the daily trading volume of XRP surged by about 146%, reaching $18.38 billion.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="251" src="https://thenewscrypto.com/wp-content/uploads/2024/11/image-245-1024x251.png" alt="" class="wp-image-116192" srcset="https://thenewscrypto.com/wp-content/uploads/2024/11/image-245-1024x251.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-245-300x73.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-245-768x188.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-245.png 1233w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   (Source: <a href="https://coinmarketcap.com/" target="_blank" rel="noreferrer noopener nofollow">CMC</a>)
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<p>The sudden XRP price rise comes amid speculation surrounding <a href="https://thenewscrypto.com/xrp-surges-after-ripple-unveils-first-ever-tokenized-money-market-fund/" target="_blank" rel="noreferrer noopener">Ripple’s upcoming RLUSD</a> stablecoin, with rumors suggesting that the New York Department of Financial Services (NYDFS) could approve the project by December. The news sparked excitement among investors, sending XRP closer to the $2 zone. The surge is also fueled by growing expectations for an XRP Exchange-Traded Fund (ETF), which analysts predict could receive regulatory approval by 2025.</p> 
<h3 class="wp-block-heading" id="h-xrp-bulls-eye-2-with-strong-momentum">XRP Bulls Eye $2 with Strong Momentum</h3> 
<p>According to 24-hours <a href="https://thenewscrypto.com/ripple-xrp-price-prediction/" target="_blank" rel="noreferrer noopener">technical analysis</a> using Elliott Wave Theory, XRP appears to be in its third wave of a bullish rally, a phase often seen as the most significant in an upward trend. After consolidating around $1.60, XRP has gained significant momentum, setting its sights on the crucial resistance level of $1.95. A breakout above this level could push XRP towards the $2 range, which many view as both a psychological and historical barrier.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="482" src="https://thenewscrypto.com/wp-content/uploads/2024/11/image-244-1024x482.png" alt="" class="wp-image-116191" srcset="https://thenewscrypto.com/wp-content/uploads/2024/11/image-244-1024x482.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-244-300x141.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-244-768x362.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-244-1536x724.png 1536w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-244.png 1613w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   XRP Price Chart (Source: <a href="https://in.tradingview.com/symbols/XRPUSDT/?exchange=BINANCE" target="_blank" rel="noreferrer noopener nofollow">TradingView</a>)
  </figcaption>
 </figure>
</div> 
<p>At the time of writing, XRP is trading at $1.92, up approximately 115% from its 200-day SMA, signaling a strong bullish trend. On the 4-hours XRP/USDT trading pair, the CMF indicator, showing a positive value of 0.22, further supports the narrative of strong buying pressure and investor confidence.</p> 
<p>On the other hand, an RSI of 83, signaling strong bullish momentum but also indicating overbought conditions. XRP’s next support level is around $1.75. If the price pulls back from its current resistance at $1.90, this support level could act as a cushion for potential downward movement. A break below this level could open the door for further consolidation or a move toward lower support levels around $1.60.</p> 
<p>However, with the momentum still strong, XRP’s potential to reach the $2-$5 range in the coming months has become a widely discussed prospect. As XRP continues its upward trend, all eyes will be on the next key resistance levels and the potential launch of Ripple’s RLUSD stablecoin.</p> 
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Will XRP Break $3 and Reach Its All-Time High Soon?

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