Ripple (XRP) Can 'Make History' if It Surpasses This Crucial Resistance Zone

Current Market Performance

As the cryptocurrency market experiences a bullish wave, Ripple's XRP has remained relatively steady. While Bitcoin (BTC) has surged to a new all-time high of nearly $77,000, and other assets like Cardano (ADA) and Ethereum (ETH) have shown significant gains, XRP is trading at around $0.55, the same level it held on November 7.

Analysts' Optimism for XRP

Despite its lackluster performance compared to other cryptocurrencies, analysts are optimistic about XRP's potential breakout. A well-known analyst, Dark Defender, noted that XRP bounced back from a key support level and touched the Ichimoku Weekly Clouds. They identified $0.6649 as a crucial resistance level, suggesting that if XRP surpasses this mark, it could rise to $1.88 and potentially reach an all-time high of $5.85.

Potential Regulatory Changes

The recent election of Donald Trump as the U.S. president has led some experts to predict favorable regulatory changes for XRP. Trump has promised to remove SEC Chairman Gary Gensler, who has been involved in numerous legal disputes with Ripple and other crypto firms. Analysts believe that a change in leadership at the SEC could create a more favorable environment for XRP, positioning it as a leading cryptocurrency.

Future Price Predictions

Another analyst, EGRAG CRYPTO, suggested that XRP is following a "just do it" pattern, which could push its price to $1.60 in the future. They emphasized that a solid weekly close above $1.10 would confirm strong support and potentially allow XRP to bid farewell to the $1 mark for good.