๐ XRP Price Analysis Post-Trump's Inauguration
Since Donald Trumpโs inauguration on January 20, 2025, the cryptocurrency market, particularly XRP, has shown significant volatility. On the inauguration day, XRP hit an intraday high of $3.23, closing at $3.19, reflecting mixed market sentiment.
๐ Key Factors:
Pro-Crypto Policies Expected: The appointment of Paul Atkins as SEC chair raised optimism, hinting at favorable outcomes in cases like Rippleโs.
Legal Developments: The partial resolution of Rippleโs SEC lawsuit, including reduced fines, also boosted XRPโs price.
๐ Technical Analysis:
Support: The $3.00 level remains a strong support.
Resistance: Breaking the $3.40 mark could propel XRP to $4.40, based on Fibonacci extension patterns.
๐ Price History:
All-Time High: On January 4, 2018, XRP reached its historical peak of $3.84.
๐ Key Takeaway:
While the market responded positively to political and legal developments, volatility persists. Investors should closely monitor government actions and regulatory updates that could impact the cryptocurrency landscape.
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