In 2017, XRP witnessed its biggest rally when it surged rapidly, finally peaking at $3.92 in January 2018. However, since then, it has mostly retreated below $1. This has changed recently, as the previous week saw a monumental price rise, leading XRP to cross the $1 level. With an intraday gain of almost 7% at the time of writing, XRP is still bullish and has been trading firmly above $1. After 7 years, can the sixth-largest cryptocurrency experience hay days and rally to its all-time high of $3.92? Let's consider three elements driving the present surge and XRP's potential to reach $3.92 once more.
Ripple has had a partial win against the SEC. Nevertheless, this long-standing legal battle remains a challenge for the project. However, there is hope that the present chairman, Gary Gensler, will quit his seat after Donald Trump's election. Gensler hinted in a recent speech about his resignation, and experts estimate he would leave before the new government enters. This is positive news for the whole crypto market, which has witnessed strict rules under his leadership. Ripple, in particular, stands to gain a lot from the change in power. Its legal battle may end sooner than later, and the proposed Ripple Spot Exchange Traded Fund (ETF) may also get approved faster. This has left the crypto community optimistic about XRP and its potential for an explosive surge.
The much-awaited introduction of Ripple Lab's stablecoin, RLUSD, is approaching. Recently, Monica Long, Ripple's president, announced that RLUSD is operationally ready. The only cause for the delay is approval from the New York Department of Financial Services (NYDFS). As a result, analysts believe the launch will take place within the year. Ripple's forthcoming release of its stablecoin has also been favorable since it is projected to change its financial functionality.
The increase in Ripple's open interest is another element pointing to a bright future for the token. CoinGlass data indicates it peaked at around 2 billion XRP in active futures positions, which shows traders' optimism about XRP's future price movement. Furthermore, market sentiment is 88% positive, and the fear and greed index shows extreme greed.
Though it is almost $3 away from its all-time high, a gain to $3.92 is not unachievable. XRP jumped more than 100% last week. It is trading at $1.16 at the time of this post, increasing over 7% gain in the past day. Ripple has been among the most bullish cryptocurrencies in November, primarily because of the possibilities that come with the incoming U.S. government. If the SEC chairman eventually resigns, this could lead to a buying frenzy, sending XRP to the moon. Also, the launch of the RLUSD can fuel bullish sentiment. If the current bullish momentum remains, XRP can reach its ATH soon enough.
Rexas Finance has been an outstanding entry into the crypto space, mainly because of its unique vision for real-world assets (RWAs). Seeking to revolutionize asset management, Rexas Finance tokenizes RWAs using blockchain technology to eliminate key problems like liquidity, high cost, high entry barriers, and transparency. Rexas Finance can make assets like real estate and arts liquid and available in smaller fractions through asset tokenization. This has opened the doors to global access and also lowered the barrier, enabling smaller investors to enter the market. The crypto community has welcomed this innovative idea, and investors are trooping to participate in its ongoing presale. The presale has so far been a success, moving quickly to stage 6. At stage 6, RXS is worth $0.08, and the price will increase to $0.09 in stage 7. The launch price will be $0.20. The token can currently be tracked on CoinGecko and CoinMarketCap, allowing investors to get real-time updates on the project's progress.
Rexas Finance's commitment to its community is visible not only in its choice of a public presale over VC fundraising but also in its ongoing million-dollar giveaway. The giveaway will reward 20 lucky participants with $50,000. Investors and analysts alike have praised Rexas Finance. Its vision remains a statement in the crypto space, and analysts say its Certik Audit marks it as a reliable investment. Rexas Finance is poised to witness long-term success, with experts predicting a rapid surge to $10. RXS will be listed on three major exchanges, a decision that increases its visibility and credibility. Rexas Finance is well-positioned to become a big name in the crypto space. Thus, it's an exciting opportunity for investors in 2024.
Ripple's price has been bullish, and several factors highlight its potential to continue rallying. These may lead the token to reclaim its all-time high of $3.92 soon. Meanwhile, Rexas Finance has also garnered momentum, swiftly moving through each stage of its presale. Analysts believe the token could skyrocket post-launch following its positive trend. Investors can leverage its low entry price of $0.08 to join now before RXS begins its rally.
For more information about Rexas Finance (RXS) visit the links below:
Website: https://rexas.com
Win $1 Million Giveaway: https://bit.ly/Rexas1M
Whitepaper: https://rexas.com/rexas-whitepaper.pdf
Twitter/X: https://x.com/rexasfinance
Telegram: https://t.me/rexasfinance
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.