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XRP Eyes $3 as Trump Win Fans Crypto Optimism: Bitcoin, Ethereum Steady Amid Trends

The $3 target for Ripple's XRP gains steam in the wake of crypto optimism caused by a Trump win.


XRP Eyes $3 as Trump Win Fans Crypto Optimism: Bitcoin, Ethereum Steady Amid Trends

Key Takeaways

  • XRP surged to $2.90 on the election of Trump, with hope over regulatory reform driving gains.

  • Bitcoin changes hands at 96,934.10 while Ethereum is stable at 3,719.05 with moderate gains on the week.

  • The RSI for XRP shows overbought conditions, with potential support at $1.96 if a pullback occurs.

  • The departure of SEC Chair Gary Gensler raises hopes for XRP ETFs and a friendlier regulatory environment.



Ripple's XRP Surges to $3, Driving Factors Behind Rally


Optimism on Change of Law After Trump's Victory

Ripple's XRP rose to a six-year high of $2.90 as investors in cryptocurrencies expect better regulations after the victory of Donald Trump. The expected departure for SEC Chair Gary Gensler, perceived as hostile toward cryptocurrency, has kindled hopes that the lawsuit against Ripple Labs could see some leniency with the shift in leadership.


Trump's victory also revived the broader optimism for regulatory reform, like the approval of XRP-focused exchange traded funds or ETFs. Only Bitcoin and Ethereum-focused ETFs have been cleared by regulators so far, but an asset manager such as Bitwise and WisdomTree is filing with the Securities and Exchange Commission looking to launch a spot XRP ETF.


XRP has led the pack of major cryptocurrencies by a mile, surging 85.6% in the last week and more than 400% year-to-date. By comparison, Bitcoin has rallied 3.4% on the week while Ethereum is up 8.8%.


At the time of writing, XRP changes hands at approximately $2.55, slightly pulling back from its high. The cryptocurrency, however, remains well-positioned to test the important $3 barrier, with growing trading volumes to support its rise.



XRP's Overbought Signals: Correction or Continued Rally?

Despite the optimism, technical indicators flash warning signs. Currently, XRP has an RSI of 83, showing overbought conditions. This level has mostly been followed by price pullbacks. According to analysts, a pullback for XRP could see the coin test $1.96 support before trying again to advance upwards.


Bitcoin and Ethereum: Stable Under Shifting Markets


Bitcoin Sticks at $96,934.10 Amid Mixed Indications

Bitcoin is still steady, trading at about $96,934.10, up 1.3% on the week. Though BTC has mostly been resilient around its psychological support of $95,000, the RSI of 62 suggests that its bullish momentum is weakening. If the rally sustains, Bitcoin may retest its all-time high of $99,588.


Nevertheless, the bearish prospects have not entirely been eliminated. If there is a slip beneath $90,000, the larger markets would create volatility and influence XRP and Ethereum among other leading cryptocurrencies.


Ethereum Sets Sight on $4,000 as Support at $3,719.05 Remains Intact

Ethereum has secured reliable support at $3,454 and is seeing higher trading today at $3,719.05. The leading cryptocurrency is looking bullish; as such, analysts set its sights on $4,000 as its immediate resistance.


With the RSI relatively at 66, Ethereum is well below overbought territory, which leaves room for further upside. A slip beneath $3,454, however, may force a retest of $3,335 and invalidate the uptrend.



The broader Crypto Trends in the Wake of Trump's Win


SEC Leadership Change, ETF Hopes

Trump's win has revitalized the crypto market sentiment, and for many investors, this promises to be a more constructive era toward regulation. The probability of approval of XRP ETFs could increase the adoption from institutions and bring newer money liquidity into the market.


The exit of Gary Gensler also marked a change in the SEC's stance, which had been a thorn in the side of crypto proponents. According to analysts, a friendlier regulatory regime could trigger further appreciation in the wider market.



Market-Wide Volatility and Trading Volumes

Accompanying this rally, too, has been a sharp increase in trading volumes, outpacing Bitcoin's even in the recent price surge. This shows a broad base of investor interest and suggests that the price movement of Ripple is not just a fleeting spike.


Bitcoin and Ethereum have also been stable in terms of trading volume, indicating market confidence since Trump's victory. However, analysts argued that the dynamics could change because of macroeconomic factors like interest rates and geopolitical tensions.


Conclusion: XRP $3 Still in View as Bitcoin, Ethereum Stable

Ripple's recent rally gives the indication that XRP has the potential to test $3, led by optimism from Trump's election and regulatory changes in the SEC. Bitcoin and Ethereum are relatively stable, while Ripple is performing exceptionally well, leading the pack among large cryptocurrencies.


Therefore, in line with the changing regulatory environment and broader economic trends, the direction of XRP will be determined by its ability to maintain such momentum without reaching overbought conditions. With any possible ETF approvals and greater adoption, Ripple remains a cryptocurrency to reckon with.




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