- With the crypto market enjoying a massive bull run, Ripple (XRP) could potentially hit $1 this month.
- The election of Donald Trump as the pro-crypto US president and potential favorable regulations could greatly benefit XRP.
- XRP has broken out of a four-year descending triangle pattern, and its technical indicators are bullish, suggesting a $1 price target is achievable soon.
The crypto market is currently experiencing an unprecedented bull run. Bitcoin reached an all-time high of $89,000 in early November, sparking optimism across the digital asset sector. Many are now wondering if Ripple’s XRP token could surge to $1 this month.
Ripple Struggles in the US But Regulation May Change
Over the past few years, Ripple has struggled significantly with its US operations. The company remains engaged in an ongoing legal battle with the Securities and Exchange Commission (SEC). However, changes in the White House could shift the regulatory landscape.
With SEC Chair Gary Gensler likely on his way out, many tokens like XRP could benefit from favorable regulations under President-elect Donald Trump. As the crypto market surges, the XRP price could hit $1 as early as this month.
Technicals Suggest an Upward Breakout
The XRP price is up over 16% in the last 24 hours and 30% over the last month, currently trading just below $0.70, according to CoinMarketCap. After breaking out of a four-year descending triangle pattern, the technicals suggest further upside.
XRP’s Relative Strength Index (RSI) is above 59.83, indicating bullish momentum without being overbought. Meanwhile, Bitcoin’s rally to $89,000 appears to be lifting the broader crypto market.
source: coingecko
When Can XRP Realistically Hit $1?
Given XRP’s current trajectory, hitting $1 seems inevitable. However, the question is when it can reach that threshold.
The recent descending triangle breakout points to $1 being achievable in the medium term. XRP may be able to target $1 by the end of November or early December. Either way, Ripple likely hits the $1 mark before 2025 begins.
For that to happen, XRP needs to maintain strong support and avoid excessive buying pressure too quickly. But the technicals and market dynamics appear favorable for Ripple to reach the historic $1 price point within weeks.
