XRP Price Soars, Following in Dogecoin's Footsteps

After lagging behind in recent weeks, XRP's price has made a significant recovery. In the past 24 hours, it has risen by approximately 15%, ranking among the top performers in the top 10, second only to Dogecoin.

At the time of writing, XRP is trading above $0.7, a high not seen since March of this year.

Source: TradingView

This surge has brought XRP's total market capitalization to $40 billion. The rally comes alongside Bitcoin's record-breaking high of $90,243.

As reported by CryptoPotato, analysts are now predicting that XRP's price could reach $2 by the end of 2024. Last month, one analyst suggested that significant price action would occur once XRP traded above $0.66, which has now been confirmed.

"We then set an extraordinary level of $0.6649. And underlined with Bold Fonts that this damn level is the strongest of all! And as soon as we see XRP above $0.66, a day, a week, a month, then we will see tremendous moves," said Dark Defender.

Speculation has emerged that Ripple's CEO met with Donald Trump (or a member of his administration) to discuss cryptocurrency regulations, which may have contributed to the recent surge. However, this has not been officially confirmed.

First published on CryptoPotato.