XRP, the third-largest cryptocurrency, is making waves with its bullish momentum. Top trader Jacob Canfield highlights XRP's impressive chart performance, noting its successful break above key support levels. The XRP community remains optimistic, buoyed by the upcoming XRP Community Day 2025 and the potential for a favorable outcome in Ripple's legal battle with the SEC.
Jacob Canfield , a seasoned trader and analyst, recently shared his insights on the short-term price performance of XRP . He believes the Ripple -associated cryptocurrency is among his top altcoin picks right now, citing its impressive chart performance. Canfield pointed out two key levels that XRP has successfully surpassed in recent weeks. Firstly, it transformed the resistance zone at $2 into a robust support level.
Subsequently, it found support at $3 and remains firmly above this crucial mark. Since November 2024, XRP's price has experienced a remarkable surge, reaching over $3 for the first time in seven years. This represents a 500% increase, though it still falls short of its all-time high of $3.84, recorded in January 2018. The global XRP community is currently buzzing with anticipation for XRP Community Day 2025, a hybrid global event uniting the XRP Ledger and Ripple ecosystems. This optimism is further fueled by the possibility of Ripple emerging victorious in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). Adding to the positive sentiment, information about the legal proceedings was recently removed from the SEC's official website. Notably, XRP, the second-largest altcoin, experienced a 1.21% decline in the last 24 hours. However, its price remains resilient, defending the $3.1 level despite shrinking trading volume. Disclaimer: The opinions expressed by our writers are solely their own and do not reflect the views of U.Today. The financial and market information provided on U.Today is for informational purposes only. U.Today assumes no responsibility for any financial losses incurred while trading cryptocurrencies. It is essential to conduct your own thorough research and consult with financial experts before making any investment decisions
XRP Ripple Jacob Canfield Altcoin Cryptocurrency Market SEC Legal Battle XRP Community Day
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