XRP’s price has dipped 1.5% in the past 24 hours to $2.31, following a broader 3% decline in the cryptocurrency market. While XRP has lost 4% over the past week, it still boasts a 300% gain over the past year, showcasing its long-term strength.
The latest buzz centers around Ripple CEO Brad Garlinghouse’s dinner meeting with President-elect Donald Trump, alongside Ripple’s legal counsel Stuart Alderoty.
Could this meeting lay the groundwork for regulatory clarity and drive XRP to an ambitious $10 price target? Let’s explore.
The Trump Meeting: A Potential Game-Changer?
Garlinghouse shared on X (formerly Twitter) that he and Alderoty dined with Trump at his Mar-a-Lago resort. While details of their discussion remain undisclosed, the involvement of Alderoty suggests that Ripple’s ongoing legal battles with the SEC likely came up.
Ripple is currently appealing aspects of its 2023 court victory against the SEC. Trump’s administration, with pro-crypto Paul Atkins likely heading the SEC, may take a more favorable stance on Ripple and cryptocurrencies in general.
If Ripple can secure regulatory clarity under the new administration, it could pave the way for increased adoption of XRP, both as a bridge currency and a mainstream asset.
XRP Price Analysis: Short-Term Setbacks
Current Indicators
XRP’s recent price action shows a loss of momentum:
- Relative Strength Index (RSI): Dropped below 50, suggesting XRP is heading toward oversold territory.
- 30-Period Moving Average (MA): Trending downward and approaching the 200-period MA, signaling potential short-term bearishness.
Support and Resistance Levels
- Immediate Support: $2.25 serves as a critical support zone, with a breach potentially opening the door to further declines.
- Key Resistance: XRP must reclaim $2.50 to regain upward momentum.
While short-term technicals look weak, XRP’s strong fundamentals and supportive macro conditions suggest a recovery is likely.
Long-Term Potential: Can XRP Reach $10?
Bullish Fundamentals
Ripple continues to strengthen its position in the financial world:
- Regulatory Clarity: A favorable resolution of its legal battle with the SEC could unlock institutional adoption.
- Utility: XRP’s use as a bridge currency for cross-border payments ensures continued demand.
- Market Sentiment: Pro-crypto policies under Trump’s administration could attract retail and institutional investors.
Price Predictions
With a growing market cap and institutional interest, XRP could realistically target:
- $2.50: By mid-2025, following Trump’s inauguration and potential regulatory clarity.
- $3.00: H2 2025, assuming broader crypto market momentum.
- $10.00: Late 2025, driven by institutional adoption and bullish market sentiment.
Achieving $10 would require sustained bullish momentum and favorable market conditions, but it’s not out of reach given XRP’s fundamentals.
While XRP’s short-term price action suggests continued consolidation, its long-term prospects remain bright. Ripple’s high-level engagements, such as Garlinghouse’s meetings with Trump, and its commitment to regulatory clarity set the stage for potential explosive growth. For investors with a long-term horizon, XRP remains a compelling choice.
