Ripple received another reference from Donald Trump which caused an immediate reaction across the cryptocurrency market. After former U.S. President Trump recognized XRP investors wonder whether his endorsement could drive the token towards its sought-after $100 value point.
Trump Mentions Ripple, Boosting Investor Confidence
Donald Trump pointed to Ripple and XRP twice in a row through his social media platform Truth Social on Wednesday. Trump acknowledged the former statements of Ripple CEO Brad Garlinghouse about how a Trump presidency might create regulatory stability and boost crypto development across America.
Earlier this January Garlinghouse declared the “Trump effect” was establishing new cryptocurrency industry jobs while drawing significant financial investment. Ripple afterward increased its U.S. employee base to demonstrate its Washington presence. The comments by Trump have sparked numerous predictions about XRP’s possible inclusion within his digital asset framework.
Ripple’s Chief Technology Officer David Schwartz pointed out that XRP is approaching its time for large-scale institutional adoption. The national crypto reserve concept goes hand-in-hand with current discussions about implementing an XRP-based system. A betting platform named Polymarket indicates that such a reserve has a 15% chance of being created.
XRP Price Movement Following Trump’s Endorsement
XRP maintains a trading price of $2.56 with an overall 3.65% decrease during the last day. The market capitalization of the token experienced a loss of $17 billion throughout the past four days. Expert analysts predict the long-term XRP price rally will gain momentum from Trump’s recent statement about Ripple.
The spot XRP exchange-traded fund (ETF) filing submitted by Bitwise received official recognition from both market sentiment and the U.S. Securities and Exchange Commission (SEC). The market sentiment regarding XRP growth has improved significantly because of Trump’s endorsement while the SEC approval strengthens the outlook further according to analysts.
Could XRP Realistically Reach $100?
The available market history indicates that XRP is moving toward a substantial price breakout. The 2017 bull run serves analysts as a useful guide for their projections. XRP exceeded its original price boundary which extended down to 161.8% Fibonacci Extension during that cycle and reached its local peak between 227.2% and 241.4% extension levels.
XRP attempts to shatter the existing $2.90 price barrier in the current market environment. The market conditions match historical patterns to create XRP formation in the price range of $178 to $282. The projection sets $100 as an attainable goal because Trump’s backing should create favorable regulations and institution-wide adoption.
Key Support and Resistance Levels for XRP
The daily support system of XRP stands at $2.39 which represents the 61.8% Fibonacci level. Sellers remain dominant because of declining trading volume which accompanies four consecutive red candlesticks.
Presently the Relative Strength Index (RSI) demonstrates a value of 45 indicating that negative trading trends persist. A drop in RSI below its signal will indicate falling prices which might extend to the $2.11–$2.39 support range. An upward divergent signal emerges from the Money Flow Index because the statistic has increased to 63.
XRP will meet immediate resistance at the $2.77 point if buyers reenter the market because it matches the 38.2% Fibonacci resistance level. Price breaking above the resistance level may drive XRP tokens toward attaining the recent $3.40 high point.
Conclusion
XRP’s future looks bullish for the long run given Trump’s endorsement and institutional developments that are currently underway despite its short-term uncertainties. Conditions that enable XRP to serve as a potential national reserve asset together with improved regulation could potentially push the price beyond $100.
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