XRP to $2 before the end of the 24 or will the bears take control again? (Ripple Price Predictions)

TL;DR

XRP saw big gains in the past 24 hours, with analysts suggesting it could follow Dogecoin’s recent surge to higher targets. The SEC lawsuit adds uncertainty to the asset’s performance, but Trump’s victory has raised hopes of drastic changes at the regulator. XRP to face the DOGE rally?

Many major cryptocurrencies posted fresh daily gains today (November 12) and this time, Ripple’s XRP is among the top performers. Its price is up 9% on a 24-hour scale, briefly rising to an eight-month high of $0.67, and currently trading at roughly $0.64 (according to CoinGecko data).

XRP Price, Source: CoinGecko

According to numerous market watchers, XRP is poised to experience a major bull run soon, similar to other altcoins that have taken center stage lately.

X user Mikybull Crypto believes the asset could copy Dogecoin’s (DOGE) “massive rise”, setting a target of $2. The biggest meme coin has witnessed a 260% price explosion in the past month, hitting a three-year high of over $0.44. At the time of writing these lines, change this mark slightly.

Cryptoinsightuk shared a similar thesis, predicting that XRP could mimic the gains of DOGE and ADA. “Honestly, I feel a clean break of $0.66 and send it $1 or higher. You probably find resistance around $1.28,” the analyst suggested.

Dark Defender, who has been following XRP’s price fluctuations and has made multiple bullish predictions over the past few months, also chimed in. The expert argued that the critical resistance level of $0.6044 is “dead”, which means that the price is now headed towards the next target. of $0.6649.

“Then we set an extraordinary level of $0.6649. And underline with Bold Fonts that this damn level is the strongest of all! And as soon as we see XRP above $0.66, a day, a week, a month, we’re going to see huge moves,” Dark Defender stated last month.

Ripple Legal Issues

A major factor that has potentially held XRP back from following the gigantic resurgence of the cryptocurrency market in recent days is the ongoing lawsuit between Ripple and the US SEC. The case dates back to 2020, with the regulator recently appealing a 2023 ruling handed down by federal judge Torres. Thus, it prolonged the battle, causing additional uncertainty among investors.

However, Donald Trump’s presidential victory can be considered good news for the XRP army. After all, he promised to fire the SEC chairman on Day 1. The agency and its leader have filed countless lawsuits against crypto companies, and the community will welcome a successor who is more open to innovation.

We have yet to see if the Republican will follow through on his promise. Earlier this month, Fox Business reporter Eleanor Terrett claimed to have discussed the matter with “a person close to Trump’s transition team,” who assured her that the new president “will be someone pro – crypto”.

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