- XRP price shows a 44% surge over the past week indicating a full-fledged bull run.
- The altcoin’s daily trading volume has surged by 8.41% as per CMC data.
The crypto community continues to rejoice in the upward momentum in the market over the past few days. Bitcoin has finally risen to the $101K level after days of consolidation. The timing couldn’t be better, as one of the external factors contributing is Trump’s inauguration day approaching. This has inadvertently caused the altcoin sector to pull on a full bullish trend.
Meanwhile, another top player is fighting for attention with its incredible performance. Ripple ecosystem’s XRP hit two milestones in the past day. The altcoin has once again surpassed its $3 milestone while also reaching a market cap of $191.53 billion for the very first time.
This has resulted in quite a positive uproar in the market towards XRP. In the past day alone, the surge percent stands at 8.82% causing it to reach the $3.3 level. In the morning hours of January 16, the altcoin had just reached the $3.05 zone.
In the last 24 hours, XRP’s intra-day high is marked at $3.35. At the time of writing, the altcoin was trading at $3.3249 as per CMC data. When analyzing the cause of the bull run certain external factors come into play.
The Ripple Vs. SEC lawsuit has reached a crucial point after nearly four years. With the impending resignation of Gary Gensler, the community is expecting the lawsuit to be dropped. Moreover, the Ripple executives meeting with Donald Trump indicates a change in sails for the lawsuit thus causing XRP to surge.
Will XRP Hit a New All-time High in This Bull Run?
When looking at price indicators XRP shows potential to surge further in the coming days. The Moving Average Convergence Divergence (MACD) signal line stands above the MACD line highlighting the positive environment.
The bull-bear power indicators’ ratio of 6.930 to -0.28 shows a clear bullish dominance from TradingView data. This suggests the clear sustenance of the bull run in the coming days.
Moreover, external factors such as a case of the lawsuit ending or other improvements could only cause the altcoin to surge further.
Additionally, the confirmed resignation of SEC chair Gary Gensler might also act as a positive momentum. This further affirms our bets for the altcoin hitting a new ATH in the coming days.
