Bitcoin, the largest cryptocurrency by market cap, declined 2% today as XRP, associated with the Ripple digital payment protocol, escalated 8% in 24 hours to $1.14. For the week, XRP is one of the best performers in the top 100 coins, up 95% and even 124% gain in the last two weeks.
A bullish chart pattern has gained traders’ attention over the last 24 hours but has been hidden by price candles. With a slight price pullback, the Relative Strength Index (RSI) has demonstrated a rise in momentum, making XRP even stronger, and it may be on the precipice of a significant breakout. The coin’s price dropped to $1,04 before the RSI started a recovery process as soon as it crossed the 45 level.
Moreover, the price of XRP has been trading above the 30-period moving average (orange line) and 200-period moving average (blue line), an extraordinary fact indicating that this cryptocurrency is in the process of growth. Traders had ill-treated XRP with very low prices in the past, but this could be the beginning of more bonuses heaped on the cryptocurrency as the market continues to bounce back.
Its bullish run is also anchored on expectations of Ripple CEO Brad Garlinghouse meeting with President-elect Donald Trump. Whether or not executives of popular payment protocols like Ripple are willing to address the public to clarify details about their meeting, the assumption is that the company is on the verge of partnering with large organizations or even the Fed to work on cross-border payments or Central Bank Digital Currencies.
Besides, if Trump’s administration changes the U.S. Securities and Exchange Commission (SEC) leadership, Ripple can settle the current legal cases against it. If there were a change of heart, its regulatory arm, The US SEC, Ripple would probably move to the next level, secretly increasing investor confidence in XRP.
XRP’s Bullish Outlook and Best Wallet Token’s Promising Presale Surge
According to market estimations, XRP is expected to surpass its all-time high (ATH) of $3.40 by mid-2025. Some even see the possibility of $2 by the end of this year. This potential rally makes XRP one of the most promising altcoins an investor can consider in the current market.
As you will see below, XRP is expected to surge massively shortly. However, it is not the only altcoin with fans predicting great things. Current up-and-coming tokens include the Best Wallet Token, an ERC20 token for the widely-used Best Wallet application released in the presale stage and has already collected more than $400,000. Extending some benefits, including rewards, transaction fees, and voting services, is another aspect that makes BEST an ideal token in the growing world of cryptocurrencies.
The token is highly deflationary, with a fixed circulating supply of 10 billion BWT tokens, and the goal of Best Wallet Token is to generate meaningful value for BWT token holders in the long run. The presale, which only began last week, allows investors to invest in a growing ecosystem early. Priced at $0.02255000 for the presale currently, the price will be adjusted in small increments in stage for the 100-stage presale to encourage early purchase.
The current progress shows that the XRP price is constantly increasing, and new projects such as BEST are in progress to enhance the cryptocurrency market and follow the next bull run in the following months. Investors should take great care to observe the development of these opportunities readily.
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