bullish

Major

Solana

Billion

Ripple’s XRP token is on a meteoric rise, surging by an impressive 444% this month. The cryptocurrency, now trading at $2.74, has reached a six-year high and is just 36% shy of its all-time high (ATH) of $3.84 recorded in January 2018.
With XRP holders reporting an average profit of +225%, the token outperforms major cryptocurrencies like Bitcoin and Ethereum.
For the first time since 2018, XRP has regained its position as the third-largest cryptocurrency by market capitalization, overtaking Tether (USDT) and Solana (SOL). With a market cap of $156 billion, it now holds a lead of approximately 12% over Tether and a significant nearly 40% over Solana.
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="860" height="413" src="https://www.cryptotimes.io/wp-content/uploads/2024/12/xrpchart-860x413.png" alt="XRP price chart" class="wp-image-219551">
 <figcaption class="wp-element-caption">
 Source: <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
 </figcaption>
 </figure>
</div>
Technically, XRP has broken out of a long-standing resistance trendline in the daily time frame. Indicators like the Simple Moving Average (SMA) and Relative Strength Index (RSI) suggest strong buying momentum.&nbsp;
Analysts predict the token could soon test its upper resistance level of $2.85 and $3.00, potentially reaching $3.20 in the short term if bullish sentiment persists.&nbsp;
<h2 class="wp-block-heading" id="factors-behind-xrp-s-surge">Factors behind XRP’s Surge</h2>
<ul class="wp-block-list">
 <li>Regulatory Relief: Ripple is likely to win its long-lasted legal battle with the SEC.</li>
 <li>Whale Activity: Major trades on Coinbase have pushed XRP’s price premium higher.</li>
 <li>Upcoming Launch of RLUSD Stablecoin: Ripple’s RLUSD stablecoin is on the edge to be launched, awaiting approval from NYDFS.</li>
</ul>
If the rally sustains, XRP could breach the $3 mark, setting the stage for a new ATH. However, a bearish reversal may see prices testing support at $2.25 or even $2.00.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/12/02/xrp-futures-open-interest-hits-record-3-91-billion-mark/" target="_blank" rel="noopener noreferrer nofollow">XRP Futures Open Interest Hits Record $3.91 Billion Mark</a>
</blockquote>

Ripple’s XRP Soars: Approaching $3 After 444% Surge

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The Crypto Times

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