For complete beginners... 🤔
You may not know much about $XRP , but you hear about it a lot and wonder: Should I be bullish or bearish and invest in it or not?
The answer is simple: the general trend of the currency is upward.
Even if I'm not the best analyst, there are plenty of indicators that support this bullish trend. However, do your own research and try to learn as much as you can... or just keep reading.
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Latest news 🗞 #الاخبار
1. Sudden surge: On December 2, XRP surged over 40% in 24 hours on positive regulatory news.
2. RLUSD Stablecoin Approval: The New York Financial Services Authority is close to approving Ripple’s stablecoin, which could boost the value of XRP.
3. Legal Developments: There is speculation that the SEC may drop its case against Ripple.
4. Strong Market Position: XRP has become the fourth largest cryptocurrency by market cap.
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Current Market Situation 🏛
Market value: exceeded $129 billion.
Recent rally: Driven by positive legal and regulatory developments, including the US elections and pending approval of RLUSD.
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Market Dynamics 📊
Supply Management: Ripple controls the large supply of XRP via the escrow system, which greatly influences the price.
Token Release: 500 million XRP were recently released, which could impact market sentiment if they enter circulation or are re-booked.
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Macroeconomic factors 🏦
Interest Rates: Talk of Fed rate cuts is increasing interest in tokenized finance, which could benefit XRP$XRP
Through platforms like RippleNet.
International Expansion: Listing RLUSD in international markets like Singapore boosts XRP adoption beyond just trading.
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Chart Analysis 📉
1. Bullish divergence: Technical indicators indicate a potential price reversal.
2. Breaking the descending channel: XRP/USD has witnessed an upward breakout of a long-term descending channel.
3. Ascending patterns:
Bullish Flag: Appears on short-term charts, indicating upcoming resistance levels between $2.91 and $3.20.
W pattern: appears on the monthly chart, and its technical target may reach $35.
RSI Crossover: A signal of increased buying pressure and a possible continuation of the uptrend.
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Conclusion 📃
In the short term ⏰
XRP may test the $2.90 level soon. If the current bullish trends continue, the coin may reach higher levels, such as $3.
Long term ⏳
The outlook is based on regulatory clarity and the success of Ripple solutions like RLUSD, as well as the increased use of XRP in financial transactions. Some analysts expect the coin to reach $35 by the end of 2025, but that requires a series of positive developments.
finally...
XRP is showing strong bullish signals 🚀, but caution should be exercised due to the volatile nature of the market.
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Disclaimer: This is not financial advice. Do your own research before investing.
