Date: Sat, Dec 14, 2024, 04:46 AM GMTIn today’s cryptocurrency market, major altcoins are regaining bullish momentum after a brief correction earlier this week. Among the top performers, XRP has stood out with a remarkable recovery, surging from its weekly low of $1.90 to its current price of $2.46. This reflects a 5% gain over the past 24 hours and an impressive 250% surge over the last month.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/a6a6108e9f21460f80c136b099b83220.png" />Source: CoinmarketcapThe recent rally in XRP has been partly driven by Ripple’s latest milestone. Its U.S. dollar-backed stablecoin, RLUSD, <a href="https://coinsprobe.com/xrp-gains-momentum-following-rlusd-stablecoin-approval-are-more-gains-ahead/" rel="noopener noreferrer nofollow">received </a>final regulatory approval from the New York Department of Financial Services (NYDFS).<h3 id="key-breakout-on-the-horizon">Key Breakout on the Horizon</h3>Technically, XRP has reversed sharply from the lower support level of a descending channel near $1.90, pushing prices close to the channel&#39;s upper resistance trendline.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/f9d5353b0fd84d27b02f108244e73529.png" />A breakout above this resistance could open doors for further upside, with key levels to watch at $2.65 and $2.90. This represents a potential 16% gain from the current price.With a combination of positive fundamentals and promising technical patterns, XRP seems well-positioned for further gains. However, traders should keep a close eye on the breakout levels and market sentiment in the coming days.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always perform your own research before investing in cryptocurrencies.Also Read: <a href="https://coinsprobe.com/crv-and-nexo-poised-for-key-resistance-breakouts-are-more-gains-on-horizon/" rel="noopener noreferrer nofollow">CRV and NEXO Poised for Key Resistance Breakouts: Are More Gains On Horizon?</a>

XRP Gains Momentum Ahead Of Key Breakout: Are More Gains Ahead?

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