XRP's price could rise 470% in the near term. According to Ari Martinez, XRP is giving the same bullish signals that it did at the beginning of its explosive rise in late 2023.
Martinez told 117,700 subscribers of the X platform that #XRP is ready to rise again, based on the SuperTrend indicator. According to him, XRP is ready to grow again based on the SuperTrend indicator. In technical analysis, the SuperTrend indicator identifies possible entry and exit points based on the overall trend of an asset.
The last time the SuperTrend indicator turned bullish on a 12-hour chart, XRP rose 470%. rose. It turned bullish again, Martinez wrote.
Since Donald Trump's election victory in early November, the price of XRP has surged more than 300%, outperforming other major cryptocurrencies. This surge was largely due to expectations of a cryptocurrency-friendly regulatory environment under the Trump administration, including an easier legal path for local crypto companies such as #Ripple , a blockchain-based payments company with close ties to XRP. A change in SEC leadership, particularly the imminent departure of Gary Gensler, who is hostile to cryptocurrencies, could lead to a more favorable regulatory environment for XRP.
Ripple CEO Brad Garlinghouse said last week that the incoming administration will end years of regulatory stagnation, and that Joe
Ripple reported that more deals were made in the U. S. in the last six weeks of 2024 than in the previous six months, indicating a direct "Trump effect" for local businesses.
In an interview earlier this week, Ripple President Monica Long suggested that XRP could create its own exchange-traded fund (ETF) in the U. S. in the future, amid expectations that #cryptocurrency regulations will change to more favorable ones after the Trump administration takes office. Bitwise, Canary Capital, WisdomTree and several asset managers, including 21Shares, have already taken steps to launch an XRP #ETF .
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