#CryptoMarket4T New all-time high following the approval of the GENIUS Act
The recent rise of XRP is supported by a strong technical foundation that has been key in its momentum. From a technical standpoint, XRP has broken out of a descending triangle pattern that had been forming on its charts for months.
This type of pattern is generally bearish, but the bullish breakout from this triangle, accompanied by a strong increase in volume, indicates that the market is ready for a significant upward movement.
The Ripple token has also hit the milestone of 200 billion dollars in market capitalization. If this trend continues, some analysts project that the market capitalization of XRP could reach 250 billion dollars by the end of the year.