XRP has experienced a massive rally, gaining 35% in just 24 hours, following U.S. President Donald Trump’s announcement of a new Crypto Strategic Reserve. Trump revealed that the reserve would include XRP, along with other major cryptocurrencies like BTC, ETH, SOL and ADA, as part of his vision to make the U.S. the global leader in the crypto industry.
The surge in XRP’s price can be attributed to this unexpected catalyst. As per technical analysis, XRP’s price structure has shown a bullish trend. After a brief pullback, XRP seems to be gearing up for higher prices, with key support levels between $2.41 and $2.48.
If the price holds above these levels, the next major resistance is at $3. A break above this level could set the stage for a push towards $3.40 and possibly even higher, with some analysts predicting the potential for prices to reach $5 to $6 in the long run.
What Did Trump Announce?
Taking to Truth Social, Trump wrote, “A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA. I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN,” he wrote on Truth Social.”
“And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve. I also love Bitcoin and Ethereum,” he added.
With bullish sentiment surrounding the crypto market and the excitement from Trump’s announcement, XRP could continue to rise as the market reacts to this major development. Investors are now looking for the next breakout point, as the cryptocurrency sector sees renewed optimism.
