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XRP has surged by 6.41%, reaching a price of $3.34 as of January 20, 2025, after wiping out recent losses. The cryptocurrency has gained momentum, jumping 11.30% in the past 24 hours and reaching its monthly high of $2.60 on January 14. Key catalysts driving XRP’s recovery include easing inflation concerns and the potential for President-elect Donald Trump to sign pro-crypto executive orders upon taking office.
XRP’s rebound mirrors the broader market’s recovery, with risk assets like Nasdaq 100 futures climbing 1.90%, signaling optimism in the economy. Additionally, reports indicate Trump will issue executive orders on January 20 that could address crypto de-banking and reverse policies on crypto accounting, which has significantly boosted market sentiment.
The rebound aligns with expectations of a more crypto-friendly regulatory environment, with Trump’s promise to appoint pro-crypto officials and dismiss SEC Chair Gary Gensler fueling bullish sentiment.
Analysts believe XRP could see further gains, with a potential price target of $3.45, representing a 30% increase from current levels. Critical support levels to watch include $2.50, and XRP must surpass $3.00 to confirm an upward breakout.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.