Today, XRP is showing significant growth, reaching a price level above $1.40, which is the highest since May 2021. The main reason for this jump was the announcement of the upcoming resignation of SEC Chairman Gary Gensler, which caused optimism among investors. As a result, XRP has risen by 25% in the last 24 hours. This increase is also related to speculations about a possible settlement of the legal conflict between Ripple and the SEC and the launch of an ETF based on XRP in the future.
Currently, the market shows high volatility. On the daily chart, the RSI (Relative Strength Index) indicates an overbought condition, which may signal a potential corrective movement. On the other hand, strong interest from buyers supports the upward trend.
Forecast for the future
Analysts expect XRP to reach the $2 mark, provided there are positive changes in the regulatory environment and sustained market optimism. However, the high level of risks due to regulatory uncertainties remains relevant, so potential investors are advised to proceed with caution
