Top Ripple (XRP) price predictions in the afternoon

TL;DR

Analysts are anticipating a potential rally for XRP, predicting a rise to $0.90 if the asset clears crucial resistance points, despite the recent underperformance. The results of the US presidential election could fuel further volatility for the entire crypto market and Ripple’s native token in particular.

“Downward Outlook or Strong Uptrend?”

Despite its slight resurgence in the last 24 hours, Ripple’s XRP remains one of the poorest (of the top 10 crypto list) on a monthly basis. It is currently trading around $0.51 (according to CoinGecko data), which represents a 4% decline for the period.

XRP Price, Source: CoinGecko

However, numerous market watchers believe that an XRP bull run is coming. One of them is user X EGRAG CRYPTO who claimed that the asset’s price chart has been following the so-called “bitfrost bridge” for the past few years. Analysis suggests that a continuation of this trend would lead to a price rally to $0.90.

Dark Defender also gave his two cents. The analyst maintained that XRP’s daily indicators are oversold, while the daily trend is bullish. The trader still thinks that a major pump could occur if the price breaks through the important resistance levels of $0.5286, $0.6044 and $0.6649.

“Our core structure is the same; I know it’s boring, but it is what it is,” they added.

The investor, using the monicker X Crypto Rand, also chimed in. They stated that XRP’s current price condition represents a “do-or-die impulse.”

$XRP defending the key support of 50 cents while driving the local downtrend. Do or die drive for #XRP pic.twitter.com/iqpqJzUM0x

— Crypto Rand (@crypto_rand) November 4, 2024

Volatility on the way?

The results of the US presidential election can cause huge price swings for the entire cryptocurrency market. The contest (set for Nov. 5) pits Republican Donald Trump against Democrat Kamala Harris.

The XRP Army appears to be cheering for the former, given its promise to fire SEC Chairman Gary Gensler should it emerge victorious. The agency and its boss have been at war with many crypto companies, including Ripple. Those who have followed the updates in the crypto space over the past few years should be aware that the two entities have been facing each other in a lawsuit since 2020.

Gensler’s potential firing could change the regulator’s focus on the Ripple case, as a new chairman could shift attention away from aggressive enforcement actions.

That said, many crypto advocates were taken aback after the company’s co-founder Chris Larsen donated $10 million in XRP to support Harris’ campaign. Last week, he suggested that the Democratic nominee would take a very different stance toward the industry than her predecessor, Joe Biden.

“The DNA of the Harris administration comes from the innovation capital of the world: the Bay Area (a place that has created more trillion-dollar companies than anywhere else on the planet). She gets it done. He grew up here and he knows people who founded these companies, so I’m really confident that it’s going to be a completely different approach than the failed policy of the Biden administration when it comes to crypto,” Larsen said.

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