In a surprising turn of events, Ripple’s cryptocurrency XRP has witnessed a remarkable 35% surge within the last day, driven by President Donald Trump’s announcement regarding a Strategic Crypto Reserve. This reserve is set to encompass significant digital currencies such as Bitcoin, Ethereum, Solana, Cardano, and XRP, igniting excitement among XRP holders and traders alike. Speculations suggest that XRP’s price may soar to $5 in the near future.
What Did Trump Say About Crypto?
On Sunday, Trump made a bold declaration on Truth Social, stressing the need for the United States to take the lead in the cryptocurrency landscape. He outlined plans for a Strategic Crypto Reserve, prominently featuring XRP, Solana, and Cardano. Trump criticized the Biden administration’s perceived assaults on the crypto market, asserting that corrective measures would be taken to implement this reserve.
What Are XRP’s Price Projections?
In the aftermath of Trump’s announcement, XRP experienced a notable breakout, with technical analysis indicating a crucial support level between $2.41 and $2.48. As long as the price remains above these thresholds, analysts predict a potential upward trend towards new price targets.
Key insights about the current XRP situation include:
- Immediate resistance lies at the $3 mark.
- Should it surpass this level, XRP may reach $3.40 shortly.
- Long-term projections suggest possible prices between $5 and $6.
The positive sentiment stemming from Trump’s remarks continues to invigorate the cryptocurrency sector, with traders closely watching for further indications of XRP’s price movements. The market appears poised for ongoing activity, as XRP navigates through various pivotal price levels.
