XRP Meteoric Rise: Is a New All-Time High on the Horizon?
Over the past 24 hours, XRP has surged over 6%, far outpacing the broader cryptocurrency market. This impressive performance adds to a staggering 36% increase over the past week, signaling growing bullish momentum.
Notably, market analyst Peter Brandt, once a vocal critic of XRP, has drawn attention after reversing his stance. In the past, Brandt dismissed XRP, even predicting that the XRP/BTC pair would eventually drop to zero. He also warned in August that the XRP community could fade if bearish patterns persisted.
However, following XRP's significant rally last month, which pushed its trading price to $1.1, Brandt changed his tune. Despite offering a bullish chart analysis, he clarified that he does not hold XRP, opting to stick with Bitcoin and Solana instead.
XRP’s upward trajectory continued this month, achieving a multi-year high of $2.82. The token now sits just 25% below its all-time high, a milestone it hasn't seen in seven years. The rally is fueled by two major factors: the resignation of SEC Chair Gary Gensler, which has eased regulatory concerns, and heightened interest in cryptocurrency ETFs.
With its momentum building, the big question remains: will XRP finally break its seven-year record and set a new all-time high?
