XRP Price Rally: Analyst Targets $1.35 Amid Positive Market Sentiment and Potential Trump Tax Policy
In recent developments, pro-XRP attorney Bill Morgan sparked excitement across the crypto community with his latest analysis, hinting that XRP may soon rally toward $1.35. Morgan’s optimistic stance comes as Ripple’s native token surged past $0.71, capturing the attention of market participants. Meanwhile, speculation that former President Donald Trump could eliminate capital gains tax on U.S.-issued cryptocurrencies has further boosted market enthusiasm.
Can XRP Reach $1.35?
As XRP surged above $0.71, Bill Morgan shared his price analysis, identifying $1.35 as the next major resistance level. His post, which featured a chart analysis, included the confident statement “bring it on.” In a follow-up, he commented that “the rally is happening now, perhaps,” reinforcing the sentiment that XRP’s movement could follow a reliable trading pattern.
Morgan’s insights have coincided with another bullish prediction from crypto analyst Dark Defender, who noted that if XRP holds above $0.6649 and surpasses the $0.74 mark again, the next price target would be $1.03. With multiple market watchers sharing positive forecasts, investor sentiment around XRP appears to be at a high, possibly supporting further gains.
Trump’s Proposed Tax Plans and the Ripple Lawsuit Boost Market Confidence
During his campaign, Donald Trump voiced plans to strengthen America’s position as a global crypto hub. With his recent election win, rumors are circulating about a possible exemption from capital gains tax for U.S.-based cryptocurrencies, a move that would likely attract more investment into assets like XRP, ADA, and HBAR. As other countries, such as the UK, work to stay competitive in crypto-friendly policies, Trump’s potential tax break could further solidify the U.S. as an attractive market for digital asset investors.
In a further boost to sentiment, the recent Ripple vs. SEC lawsuit ruling favored Ripple and CEO Brad Garlinghouse, enhancing market optimism around XRP. Alongside this, XRP saw a 7.83% price increase to $0.7122, with trading volume reaching $6.21 billion. Additionally, XRP’s recent high of $0.7435 and a 2% rise in futures open interest suggest confidence among investors.
Expert Predictions and Future Price Targets
Popular crypto analyst EGRAG CRYPTO has echoed the positive sentiment, forecasting that XRP could reach between $1.3 and $1.5 by mid-December, with a potential rally to $6.5 in the longer term. This aligns with Morgan’s and Dark Defender’s shorter-term targets, setting a highly anticipated trajectory for Ripple’s native asset as market participants continue to watch closely.
As XRP eyes the $1.35 mark, fueled by bullish forecasts and positive news, investor interest remains high, especially as regulatory developments and possible tax breaks could shape the future of the digital asset market in the U.S.
XRP Price Rally: Frequently Asked Questions (FAQ)
What is the latest XRP price target according to analysts?
Analyst Bill Morgan has set a target of $1.35 for XRP, noting it as the next major resistance level. Other experts, such as EGRAG CRYPTO, are similarly optimistic, predicting a range between $1.3 and $1.5 by mid-December, with potential long-term growth.
Why are analysts optimistic about XRP’s price movement?
XRP recently broke through the $0.71 level, igniting positive sentiment among investors. This rally, combined with confident projections from pro-XRP analysts and potential tax policy changes in the U.S., has fueled expectations of further gains.
What role is Bill Morgan playing in these predictions?
Bill Morgan, a well-known pro-XRP lawyer, shared a price analysis indicating that XRP could rally to $1.35. His posts, including statements like “bring it on,” have encouraged confidence in XRP’s current momentum among the community.
How does Donald Trump’s tax policy affect XRP?
Rumors are circulating that the newly elected Trump administration might eliminate capital gains tax on U.S.-issued cryptocurrencies. If enacted, this policy could boost XRP and other digital assets by encouraging long-term investment and drawing more investors into the U.S. crypto market.
How has the Ripple vs SEC lawsuit impacted XRP?
A recent court ruling favored Ripple and its CEO, Brad Garlinghouse, in the ongoing SEC lawsuit. This decision has bolstered investor confidence in XRP and contributed to the current price rally.
What are the short-term price targets for XRP according to Dark Defender?
According to crypto analyst Dark Defender, if XRP holds above the $0.6649 mark and surpasses $0.74 again, it could reach a target of $1.03 soon.
What are the long-term expectations for XRP?
EGRAG CRYPTO has suggested a possible long-term target of $6.5 for XRP. While this is a more speculative projection, it indicates a bullish outlook for XRP in the coming years.
What are the other factors driving XRP’s current price increase?
XRP’s recent price rise has been influenced by a mix of technical trading patterns, the Ripple lawsuit developments, and the potential tax incentives in the U.S. aimed at crypto assets. Together, these factors are contributing to a stronger outlook for XRP.
Could other countries’ crypto regulations impact XRP’s future growth?
Yes, the international regulatory environment for cryptocurrencies is evolving, with countries like the UK making efforts to attract global crypto investors. If U.S. tax incentives are introduced, it may shift global investor interest toward the U.S., impacting the market for XRP and similar assets.
Is it a good time to invest in XRP?
While there is significant optimism around XRP, cryptocurrency investments carry risks, and prices can be volatile. Prospective investors should consider their own risk tolerance and conduct thorough research or consult a financial advisor before making decisions.
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