- Summary:
- XRP price gained more than 62 percent in in the last week, and achieving less than half of that feat could take it into the $3 territory.
XRP price spiked to $2.50 on Monday, hitting its highest level since January 2028. The crypto coin has gained 62% in the last seven days and 355% in the last month, and is on a six-day winning streak. Its upside is propelled by a strong positive sentiment, which has seen investors scramble to stock it up.
The coin eased down to trade at $2.27 at the time of writing, but key momentum indicators signaled further upside. At its current level, XRP price is 24% below the $3 mark. That is less than half of its gains last week. Therefore, the coin could break into that level by week’s end if it maintains the same momentum.
What’s Driving XRP Price?
XRP issuer, won a procedural victory last week after a US court ruled to expedite the hearing of the appeal case as a stay order remains in play. That is good news for XRP price, as the case previously dragged on for more than three years. The delay resulted in subdued performance by coin during that period.
Also, the court has encouraged both the SEC and Ripple Labs to explore a settlement outside court. That prospect is more likely, in view of the incoming Trump administration, which is seen as more accommodative to digital assets. Also, Gary Gensler’s exit from the SEC on January 20 removes a key barrier to potential faster resolution of the case.
On the daily chart, XRP price shows strong upside momentum, with the ADX reading at 58 on the daily chart. In addition, its daily trading volume is stable, affirming the likelihood of a bullish trajectory.
XRP price prediction
The RSI indicators on the XRP price signals bullishness. The coin pivots at $2.27, and a stay above that level will signal continuation of the upside. The momentum will likely meet the first resistance at $2.40, but extended bullishness is likely to break above that level and test $2.50.
Conversely, breaking below $2.27 will signal the onset of bearishness, If that happens, the first support could come at $2.19. However, if the sellers extend their control, XRPUSD could break below that level and invalidate the upside narrative. The resulting momentum could extend the decline and test $2.13.
