XRP Price: 5 Key Reasons To Not Sell XRP Tokens

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As a researcher who has been closely following the crypto market for the past few years, I find myself increasingly optimistic about XRP‘s future. The recent dip in price, while concerning to some, appears to be just a temporary setback rather than a sign of things to come.

The price of XRP stays close to $2.31, having fallen about 17% over the past two days. However, today, it has climbed by 3.18%, suggesting a potential recovery, similar to Bitcoin‘s trend. Despite the volatile short-term forecast, the long-term prediction for XRP remains optimistic and bullish. An article on CoinGape offers five reasons to keep holding XRP and hints at possible further gains for the token by 2025.

XRP Price: 5 Key Reasons To Not Sell XRP Tokens

Despite a surge of over 500% in XRP’s price by 2024, its growth potential remains unbounded. Here are five significant upcoming events that, if they occur, could significantly boost the worth of XRP, possibly igniting another bull run.

Crypto Market Surge: The victory of Trump in the US elections on November 5 served as a pivotal point that ignited the bull market for cryptocurrencies. Some predict that Trump’s inauguration on January 20, 2025 could spark an even greater upswing. This optimism stems from the anticipation of a more crypto-friendly regulatory climate which might favor XRP and the overall crypto industry. Furthermore, Trump’s pro-cryptocurrency comments during his election campaign may aid in the increased adoption of XRP, potentially boosting its value.

As a crypto investor, I’ve always kept a close eye on the SEC chairman, Gary Gensler, particularly his stance on Ripple and other digital assets. His filing of lawsuits against these entities was often perceived as hostile towards the cryptocurrency ecosystem. However, with his recent departure from the SEC, there’s hope that this regulatory body may undergo a transformation in image and adopt a more favorable tone towards cryptocurrencies. This shift could potentially be beneficial for XRP price and other digital assets, making me even more optimistic about my investments.

Resolution in the SEC vs. Ripple Lawsuit: The prolonged dispute between the SEC and Ripple has finally reached an end, but the settlement isn’t finalized as of yet. If a definitive agreement is reached, it could provide valuable clarity about XRP’s regulatory standing, potentially sparking a surge in Ripple’s price.

Start of Altcoin Rally: As we’ve discussed in past CoinGape articles, an altcoin rally might commence following the recent market drop, potentially lasting until January 2025. This situation could prompt investors to shift their capital from Bitcoin towards altcoins such as XRP, potentially leading to a significant increase in their value.

Bloomberg Analysts Predict Approval of XRP ETF: According to Bloomberg analysts, it’s possible that an Exchange-Traded Fund (ETF) focusing on XRP and Solana could be coming up next. Since Bitcoin experienced a significant price surge following the approval of its spot ETF, XRP might follow suit due to increased demand. Furthermore, an approved XRP ETF would offer institutions a secure method for investing in XRP. This development could potentially trigger a significant increase in XRP’s price.

XRP Technical Analysis: Ripple Has A Long Way to Go

As a crypto investor, I find myself not entirely convinced about the bullishness of XRP, as stated by analyst Tony Severino on platform X. His reasoning is based on the fact that for the first time since April 2019, XRP’s three-month candlestick has moved above the Bollinger Band, indicating a surge in volatility. A buy signal might materialize if the quarterly candlestick manages to rise and break above the upper Band. Additionally, Severino points out that the current Bollinger Bands for XRPBTC have never been tighter, which historically has been a precursor to significant price fluctuations.

The analyst reinforces his optimistic stance by pointing out that the three-month Relative Strength Index (RSI) has surpassed its RSI-based moving average and is heading towards the 50 average value. If this three-month RSI can rise above 50, it would indicate a surge in bullish momentum, which is another way of saying “increasing strength”.

According to Severiono, one of the positive signals he mentions is the Fisher Transform, which is currently showing signs of becoming bullish with a significant multi-year bullish divergence. Additionally, a certified analyst points out that the three-month Logarithmic Moving Average Convergence Divergence (MACD) line suggests a weakening bearish trend, and it’s poised to switch to a bullish pattern for the first time on the chart.

To put it simply, the analyst’s overall stance on XRP price remains extremely optimistic, predicting further growth. But for Ripple to climb even higher, certain requirements must be fulfilled. This perspective aligns with the five points explaining why it might not be wise to sell XRP right now.

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2024-12-20 10:52