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The XRP price soared almost 3% in the last 24 hours to trade at $2.42 as of 02:18 a.m. EST on trading volume that plunged 39% to $5.6 billion.
This comes as John Deaton, a prominent crypto advocate and attorney, maintains that the Securities and Exchange Commission’s (SEC) lawsuit against Ripple Labs shows overreach by the regulator with far-reaching consequences.
Deaton continues to urge industry stakeholders to recognize the broader issues at play, including the need for regulatory transparency and fairness.
I do not believe one can properly estimate the damage to Ripple’s business caused by the sweeping nature of the SEC’s complaint against Ripple and XRP.
You have to remember, in 2012, when @Ripple founders created XRP, stable coins did not exist and the cross border payments… https://t.co/eGailTGshP pic.twitter.com/UyX3KUycbW
— John E Deaton (@JohnEDeaton1) December 31, 2024
At the same time, Polymarket bets show that there is a 70% probability of a Ripple ETF approval in 2025, up from about 50% at the turn of the year.
XRP Price To Continue Rallying
The Ripple token price has been in a significant uptrend since late October, with a notable surge that pushed prices above key levels of resistance. Recently, the price action formed a descending triangle pattern as the sellers gained control of the asset.
However, the significant breakout above the triangle’s upper boundary at $2.20 suggests that the XRP price bulls may have gained control of the asset, according to data from GeckoTerminal.
Immediate support is near the 50-day Simple Moving Average (SMA), currently at $2.02, which aligns with the triangle’s lower boundary. Additional support is present at the 200-day SMA, at $0.92, a significant long-term trend indicator.
The XRP price being above both the SMAs shows that the asset is currently on a bullish trend.
The Relative Strength Index (RSI) is at 60.55, just below the overbought zone (70). This indicates that while the Ripple token price is not yet overbought, it is approaching higher momentum levels, supportive of further upside, albeit with caution for potential cooling-off periods.
Given the bullish breakout from the symmetrical triangle, the measured move from the height of the triangle suggests a potential upside target of around $3.00, assuming bullish momentum continues.
Conversely, if the price of XRP experiences a pullback, it may retest the $2.02-$2.10 range, which would provide an opportunity for bulls to re-enter the market.
As the XRP price aims for a continued surge, some investors are turning to presale meme coins like Flockerz (FLOCK). According to 99Bitcoins, a popular crypto channel on YouTube with over 706K subscribers, FLOCK has the potential to soar 100X after its launch.
Flockerz Presale Surges Past $8.5 Million—Only 19 Days Left
With just 19 days remaining, the Flockerz ICO is attracting growing attention after surging past $8.5 million in total funds raised.
Flockerz is changing the typical meme coin model. The team created the FlockTopia DAO, giving its community control over decisions. The twist is that members earn $FLOCK tokens just for voting.
Community members can earn more tokens by influencing the project’s future. Even small investors can participate and grow their holdings by voting, without needing to be big players in the market.
Anyone fancy a quick dip? 🐦🏊♀️
They are practicing for the Flocklympics diving competition. I'm smelling gold this year! 🥇🥇🥇 pic.twitter.com/Yo37QMeTD9
— Flockerz (@FlockerzToken) December 24, 2024
The “Vote-to-Earn” system is catching the attention of investors worldwide. And aside from V2E rewards, users can also earn passively through the platform’s staking mechanism, which offers a sky-high annual yield of 320%.
Investors interested in joining the presale can visit the official Flockerz website to buy FLOCK tokens at $0.0066087 each using BNB, ETH, or USDT.
You can also make a purchase using your bank card. Buy before the token launches in about 19 days.
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