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<p>XRP has ignited a strong rally, defying the uncertainty surrounding the SEC case and ongoing appeal speculations. Despite market-wide concerns, Ripple&#39;s native token has broken out of a symmetrical triangle resistance level at $0.605, fueling optimism among investors and traders. This breakout highlights XRP&#39;s resilience amid regulatory pressures, driving excitement within the community.</p><h3 id="xrp-price-surge-amid-regulatory-pressure">XRP Price Surge Amid Regulatory Pressure</h3><p>The recent breakout in XRP&#39;s price has defied expectations, with a 6% price surge pushing the token to new highs. While major cryptocurrencies like Bitcoin and Ethereum faced marginal declines, XRP has decoupled from broader market trends, outperforming BTC in the last 90 days with a 30% price increase.</p><p>XRP’s trading volume has surged by 70% within 24 hours, reaching $2.24 billion, indicating increased market interest. This spike comes as the SEC case looms in the background, with rumors of an impending appeal creating market uncertainty. Yet, XRP continues to rally, buoyed by favorable investor sentiment.</p><h3 id="xrp-recognized-as-bridge-currency-by-swift">XRP Recognized as Bridge Currency by SWIFT</h3><p>Another key driver behind XRP’s momentum is its recognition as a bridge currency by <a href="https://steemit.com/ripple/&#64;paradiddle/xrp-price-if-it-completely-replaces-swift" rel="noopener noreferrer nofollow">SWIFT</a>, the interbank messaging platform that connects over 11,000 global banks. XRP’s integration with SWIFT is seen as a significant milestone, positioning Ripple’s technology as complementary to SWIFT&#39;s legacy financial systems.</p><p>XRP’s role as a bridge currency could facilitate faster and cheaper cross-border transfers, challenging traditional payment systems that are slower and more costly. This development has bolstered XRP’s value proposition, further driving investor interest.</p><h3 id="long-short-ratio-indicates-mixed-market-sentiment">Long/Short Ratio Indicates Mixed Market Sentiment</h3><p>Despite XRP&#39;s bullish rally, on-chain metrics show mixed signals. While <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">XRP&#39;s price</a> has spiked, the long/short ratio has dropped, indicating that fewer traders are taking long positions in the market. This reflects uncertainty among traders regarding the outcome of the SEC’s appeal and regulatory developments.</p><p>However, with exchange outflows dropping since September 24, XRP holders appear confident in the token&#39;s long-term prospects. This reduced selling pressure may support the ongoing price rally as fewer tokens are available on exchanges, limiting supply-side risks.</p><h3 id="ripple-cto-challenges-new-gas-token-proposal">Ripple CTO Challenges New Gas Token Proposal</h3><p>Amid these developments, Ripple’s Chief Technology Officer <a href="https://x.com/JoelKatz" rel="noopener noreferrer nofollow">David Schwartz</a> weighed in on a complex gas token proposal for the XRP Ledger (XRPL). The proposal, put forward by Scott Chamberlain, aimed to introduce programmability to the ledger by integrating a new gas token for transactions. However, Schwartz criticized the plan as overly complicated and lacking tangible benefits, sparking debate within the Ripple community about the future of the XRPL.</p><h3 id="conclusion">Conclusion</h3><p><a href="https://icogemhunters.com/xrp-bulls-take-over-will-ripples-price-hit-0-75-after-this-breakout/" rel="noopener noreferrer nofollow">XRP&#39;s recent price rally</a> is fueled by multiple factors, from its recognition by SWIFT to favorable technical indicators. Despite uncertainty surrounding the SEC case, XRP&#39;s resilience and potential to revolutionize global fund transfers have kept it at the forefront of the cryptocurrency market. Investors are optimistic about its long-term prospects, but traders remain cautious as market sentiment fluctuates. Whether this rally will sustain depends on both regulatory outcomes and XRP&#39;s ability to maintain its momentum in the face of ongoing challenges.</p><p></p><p><em><strong>Disclaimer:</strong> This article is intended for informational purposes only and should not be construed as legal, tax, investment, financial, or any other form of advice.</em></p><p></p><p><em>Source: </em><a href="https://icogemhunters.com/xrp-set-for-massive-surge-will-swift-push-ripple-over-the-1000-mark/" rel="noopener noreferrer nofollow">ICOGemHunters</a></p>

XRP Set for Massive Surge—Will SWIFT Push Ripple Over the $1,000 Mark?

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