XRP may rise by 40%, supported by shifting U.S. regulations and favorable technical patterns. Recent sentiment toward XRP has grown more positive, surpassing interest in Bitcoin and Ethereum, according to Santiment.
Since early December, XRP has formed a descending triangle pattern. This pattern often signals a potential breakout. If XRP surpasses its upper trendline, a bullish rally may resume, targeting gains of 40% or more. A move below $2.00 support could negate this scenario, warns CoinDesk analyst Omkar Godbole.
XRP’s price has surged over 300% since Trump’s election. Optimism stems from expectations of crypto-friendly policies and regulatory clarity. Ripple Labs, closely tied to XRP, anticipates easier regulatory pathways under the new administration.
Ripple’s CEO Brad Garlinghouse said the new government ends regulatory uncertainty. This change could unlock domestic opportunities for Ripple Labs, which recently secured more U.S. deals.
Ripple President Monica Long hinted an XRP exchange-traded fund (ETF) could emerge soon. She cited improved crypto regulations as a driving factor.
Descending triangles are typically bearish but can produce bullish breakouts. XRP’s potential move could align with historical averages of gains between 16% and 47%.
Market sentiment remains strong, reinforcing optimism for XRP’s short-term prospects. Investors are closely watching U.S. regulatory developments and Ripple’s ongoing progress.
SOURCE: Coindesk
