XRP price surged 8% in the last 24 hours to trade at $3.13 after the US Securities and Exchange Commission (SEC) filed an appeal to reverse the court ruling that said XRP was not a security when sold to retail investors.
XRP Price Breakout
The XRP price chart reflects a strong bullish trend in recent months. After a sharp rally from the $0.53 area in October, XRP broke through several resistance levels, marking a significant move upwards. According to GeckoTerminal data, after this surge, the price entered a consolidation phase between $2.00 and $2.75, which served as strong support, enabling XRP to gather momentum for its next move. Recently, XRP successfully broke above the $2.75 resistance level, confirming a continuation of the uptrend. This breakout was accompanied by a strong increase in trading volume, indicating renewed buying interest.
XRP Outlook in Perspective
Based on current analysis, XRP remains in a strong uptrend, and the breakout above $3.00 suggests potential for further upside. If the XRP price holds above $3.00 and volume remains strong, the token could target the next resistance level at $3.50, with a potential move toward $4.00 in the coming weeks. With RSI in overbought territory, XRP may consolidate around the $3.00 level or retest it as support before continuing higher, offering a healthy relief for the uptrend and allowing buyers to re-enter. Failure to hold above $3.00 could lead to XRP retesting the $2.60-$2.50 support zone.
Rising Interest in Wall Street Pepe
Wall Street Pepe, an emerging meme coin, has attracted significant attention in the crypto community, especially among meme coin enthusiasts, reaching a milestone of $49.4 million. The project aims to be a collaborative space where members can share market insights and identify promising opportunities, leveraging collective intelligence to outsmart large investors. The WEPE token also offers a passive income opportunity through staking, with a 26% annual percentage yield.
The XRP price movement and interest in new projects like Wall Street Pepe illustrate ongoing market activity and growing interest in both new and established cryptocurrency projects.
