XRP Price Surges 27% on Possible Trump Meeting Rumors

The value of XRP has witnessed a remarkable 27% surge to $1.14 as of 9 a.m. EST, accompanied by a 28% spike in trading volume to $18 billion.

This surge follows speculation that Ripple CEO Brad Garlinghouse may have met with President-elect Donald Trump's transition team. Garlinghouse reportedly liked a post by Zach Rector indicating such a meeting had occurred.

Parabolic Bullish Trend

XRP's price has broken out from a period of consolidation, climbing to $1.1354. The parabolic curve pattern indicates a rapid and assertive bullish trend.

Analysts anticipate the next resistance level at $1.20, which, if surpassed, could lead to a rise towards $1.50. This would mark a significant recovery from the lower levels experienced in recent months.

Technical Analysis Signals

The 50-day moving average (SMA) has recently crossed above the 200-day SMA, forming a golden cross. This is considered a bullish signal in technical analysis, potentially fueling the current rally.

However, the Relative Strength Index (RSI) has reached an overbought level of 93.60, suggesting that a short-term pullback could occur as traders seek to secure profits.

Support Levels and Momentum

In the event of a retracement, support levels around $0.85-$0.90, close to the breakout zone, could provide a safety net. A more significant correction might find stronger support near the prior consolidation area of $0.57.

The surge in trading volume confirms the momentum behind the breakout. Nonetheless, caution is advised as parabolic rallies can experience sharp corrections.

Pepe Unchained Presale Breaks Records

Amidst the excitement surrounding XRP, Pepe Unchained (PEPU), a meme coin presale, has garnered attention. It has raised over $33.3 million, including $3.3 million in the past day.

PEPU aims to create an entire ecosystem around its token, including a decentralized exchange (DEX), a block explorer, and a bridging system. It also offers an 81% annual return for staking tokens.

As anticipation builds for PEPU's full launch, its recent listing on Coinbase and Robinhood has provided a glimpse of its potential. PEPU tokens are currently available for purchase at $0.01286.