XRP on the Rise: Trump Investment Rumors Boost Token’s Appreciation
- Trump and whales boost XRP with significant purchases.
- Projections suggest XRP will appreciate between $8 and $13.
- Possible tax exemptions strengthen the attractiveness of the crypto market.
The XRP token has seen a dramatic recovery in recent days, ending the year on a high after a period of decline. With a rise of over 16% in the last 24 hours, the asset is currently trading at $2,30. This increase was driven by rumors that Donald Trump is investing in cryptocurrencies, including Bitcoin (BTC), Hedera (HBAR) and XRP.
🚨BREAKING: Famous hedge fund manager confirms that President Trump is buying $HBAR and $ Xrp
This intensifies the earlier testimony by someone close to the Trump transition team regarding Trump planning a national reserve of made in America 🇺🇸 cryptocurrencies under the… pic.twitter.com/Y49taNQI0u
— Shawn (@oroogle) December 20, 2024
Mark Yusko, founder of Morgan Creek Capital Management, has stated that Trump and his son Eric have invested significantly in digital assets. According to him, “What Trump is doing is buying a significant amount of crypto assets, including Bitcoin, XRP, and HBAR, under his entity.” These rumors come alongside speculation about the possible approval of ETFs for XRP and HBAR, which could open up new opportunities for investors.
Furthermore, the so-called “whales” in the market have also contributed to the optimism surrounding XRP. On-chain analyst Ali Martinez revealed that large investors have acquired more than 80 million tokens since the last price correction, which occurred on December 17. This movement reflects strong institutional interest in the asset, suggesting confidence in its potential for appreciation.
Recent projections indicate that XRP could repeat the bullish pattern seen in 2017, when it reached record highs. If this scenario is confirmed, the token could reach prices between $8 and $13, solidifying its position as one of the most promising cryptocurrencies on the market.
If $ Xrp can hold above $2.20, it might consolidate for a while before taking another shot at the $2.70 resistance. But if the $2.20 support breaks, a downswing to $1.96 becomes imminent. pic.twitter.com/cdtdtSwzKy
— Ali (@ali_charts) December 21, 2024
Another factor fueling optimism is speculation about possible regulatory changes in the United States, such as tax exemptions for crypto assets. If implemented, this measure could reinforce the attractiveness of the cryptocurrency market, placing XRP in an even more strategic position. The expectation that tokens such as XRP and HBAR could be classified as American commodities also strengthens their relevance in the global market.
At the time of publication, the price of XRP was quoted at $2,23 with a drop of 0.2% in the last 24 hours.
Meanwhile, technical analysis shows that XRP holds solid support between $2,05 and $2,20. Analysts point out that overcoming the $2,60 resistance could take the token to new highs, with the next psychological target at $3,00.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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