XRP Price Breaches $2 – Is Now the Time to Buy?

02.12.2024

The price of XRP has officially breached the $2 mark and shows no signs of slowing down. Having started its journey from $0.50 just before the US elections, XRP has soared to new heights following Donald Trump’s pro-crypto victory. As Ripple benefits from this supportive environment, investors are now eyeing XRP’s potential to reach its all-time high (ATH) of $2.70. Could now be the perfect time to buy XRP?

XRP News: XRP Price Surges Past $2

XRP has entered a strong upward trend, crossing the critical $2 threshold to reach the current price of $2.20. This impressive rally is fueled by increased investor confidence and broader market momentum. The token has gained over 58% in the past week and an additional 16% in the last 24 hours, reflecting robust demand and growing optimism about its future.

XRP/USDT 1-day chart showing XRP pump since Trump won the US election- Bitget

The price movement began when XRP was trading at just $0.50 prior to the US elections. Since then, the token has consistently climbed, driven by renewed enthusiasm for cryptocurrencies under Trump’s administration.

Currently, XRP market cap is $122.7 billion, the 4th biggest cryptocurrency by market, just 10 billion behind Tether.

How Trump’s Victory Boosted XRP

Donald Trump’s return to the White House has reignited hope for the crypto market, particularly for XRP and Ripple. Trump’s pro-crypto policies aim to position the United States as a global leader in blockchain technology. By fostering innovation and supporting crypto-friendly companies like Ripple, his administration is expected to create a favorable environment for XRP’s continued growth.

Ripple, with its focus on transforming cross-border payments, stands to benefit significantly from this political backing. The combination of government support and market optimism has placed XRP in the spotlight as one of the top-performing cryptocurrencies.

XRP Price Prediction: Heading Toward ATH?

With XRP’s current upward momentum, analysts believe it’s only a matter of time before the token revisits its previous ATH of $2.70, last achieved during the 2021 bull market.

Recent Performance: XRP has surged over 50% in the past week and 10% in the last 24 hours.
Short-Term Prediction: If the current trend holds, XRP could reach its ATH of $2.70 by early 2025.
Long-Term Outlook: With Trump’s policies boosting the crypto sector and Ripple’s expansion, XRP may even surpass its ATH, setting new records in the next major market cycle.