The price of XRP has been referred to as a giant sleeping, as crypto has shown some massive motions in the last 12 months. Over the past few weeks, XRP prices have shown volatility, reflecting the broader uncertainty within the crypto space. Currently, the price is approaching basic resistance levels between $ 2.45 and $ 2.71, and a breakout from the range is expected to spare a good outbreak.
Two potential reasons why XRP prices are expected to show massive movements are legal development with a SEC lawsuit, institutional adoption, and regulatory environment. An interesting decision on the SEC lawsuit compared to Ripple is expected to provide clarity and potentially boost investor confidence. Meanwhile, Franklin Tempton's first approved spot XRP ETF is indicative of the growing interest of the institutional. On the other hand, the Trump administration's proposal to include XRP in the US Crypto Reserve can enhance its legitimacy and adoption.
Now that the sentiment on the market has been slightly greedy out of fear, will the XRP price maintain a combined -a -racing increase to reach the fresh ones?
The raids held since the beginning of the day has helped the token rise above a bearish pattern. The price rises above the resistance of the descending triangle due to a massive flow of liquidity as the merchants have become optimistic. However, the bollinger bands are squeezed, which suggests not only a collapse in volatility but also an incoming breakout. On the other hand, the MACD shows an increase in purchase volume as the levels return to the positive range.
The current trading setup and the technical point towards the price that prepares for a massive movement shortly. If the XRP price destroys $ 2.45 to $ 2.71 zone resistance, it can provide a way for a rally to $ 3 or up. When the token runs above this range, a new ATH may be close for the XRP price rally.
