Ripple XRP has broken its key resistance at $1.44 and currently the price for the token stands above $1.63, confirming strong bullish momentum. Analysts predict that XRP could soon reach $1.88, with additional targets set at $3.41, $5.85 and even at $18.22 in the long term.
Hey there, friends. I hope all is well with you.$XRP broke one of the critical resistances, $1.44, which we expected him to do, and we also expected a retest of $1.63 yesterday.
We said that after $1.63, XRP is expected to touch one of the main Fibonacci Levels, which is… pic.twitter.com/fLd4f25V2u
— Dark Defender (@DefendDark) November 29, 2024
Major support levels have also been established. These support levels have been established at $1.44, $1.28, $1.14 and $1.03, creating a solid solid foundation for future price movement.
BlackRock and JPMorgan Eye XRP ETF Launch
In other major turn of events, after approval of 21Shares XRP ETF, financial giants BlackRock and JPMorgan are preparing to file an XRP ETF application with the SEC. This move will increase market legitimacy and attract institutional investors.
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As the Ripple‘s legal battle against the SEC nears resolution, optimism around the token within the community has surged. An ETF approval could act as a turning point for Ripple’s XRP and could solidifying its position in the crypto industry.
JUST IN: BlackRock and JPMorgan readying to submit for $XRP ETF! pic.twitter.com/46joCiVnKR
— CryptoSensei (@Crypt0Senseii) November 29, 2024
Whale Activity Indicates Investor Confidence
A large amount of XRP transaction was recently reported by Whale Alerts. According to the post, the transaction was for 104 million XRP worth $167.2 million. This highlights the confidence that the investors are showcasing for this particular token. This also indicates that the whales are positioning themselves for further gains, contributing to XRP’s current price surge.
At press time, the price for Ripple’s XRP token stands at $1.65 with a surge of 12.6% in the last 24-hours.
Can Ripple’s XRP Maintain Momentum and Reach New Heights?
Ripple’s XRP, with combination of technical strength, whale activity, any developments in the Ripple vs. SEC case and the potential ETF filing positions it for continued growth. Analysts, believe that the XRP token will easily reach its next target i.e. $3.00 mark soon. The upcoming ETF decision and regulatory clarity with resolution to the lawsuit will be the determining factors to see if XRP can achieve the said heights and cross the $18 mark as per the predictions.
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Also Read: Ripple Breaks 42 Month High as XRP Flips BNB in Market Cap Value
