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| XRP |
XRP is experiencing renewed market enthusiasm, fueled by Senator Tommy Tuberville's proposed 'Financial Freedoms Act'. This bill, coupled with solid support levels and significant whale activity, points towards a potential surge past the $2.55 mark.
'Financial Freedoms Act' Sparks XRP Optimism
Senator Tuberville's 'Financial Freedoms Act' aims to grant US investors the freedom to allocate a portion of their retirement funds to cryptocurrencies. He emphasized, "It's time Americans have autonomy over their assets. I want to aid President Trump's pro-crypto stance." CoinGape analysts believe XRP stands to gain significantly from this legislation. As a leading US altcoin, XRP could see a surge in demand from pension funds, boosting Ripple's market share. Moreover, the US government's forthcoming announcement on crypto holdings might feature XRP, Solana (SOL), and Cardano (ADA), potentially impacting the market.
Technical Indicators Suggest Bullish Momentum
Technically, XRP is rebounding after defending the critical $2 support level. Currently, XRP trades at $2.17, up 7% in the last 24 hours. On-chain data from Binance reveals a whale recently acquired approximately 9 million XRP (around $18 million) amidst a price dip, signaling a bullish outlook. Additionally, the Relative Strength Index (RSI) is rising from oversold levels, and XRP is attempting to break past the Bollinger Band midpoint resistance at $2.18. A successful breach could lead to a test of $2.55 resistance, and potentially a retest of $3.
Overall, the proposed legislation and technical indicators have reignited market optimism for XRP. If it maintains key support levels, XRP could experience a substantial rally in the coming weeks.