Why XRP Price is Surging Today? Is XRP ATH Imminent in December?

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XRP news today highlights its price surge past $2, reaching its highest levels since 2018. This jump, bringing its market cap above $100 billion, comes after a prolonged period of stagnation due to Ripple’s ongoing legal battle with the SEC

Now, it seems like XRP is reclaiming its place in the market, and there’s more exciting news on the horizon. In a video analysis by Altcoin Daily the analyst charts out the key factors behind this bullish rally. 

Let’s dive straight into the facts. 

Ripple’s Stablecoin Could Be a Game-Changer

The main factor driving XRP’s rise is Ripple’s upcoming stablecoin, RLUSD. Ripple is close to getting regulatory approval to launch the stablecoin, which could happen as soon as December 4th. The company has been working to ensure it complies with U.S. regulations before going live. Once RLUSD gets the green light, it could have a big impact on XRP’s price.

A recent report from Fox Business revealed that the New York Department of Financial Services (NYDFS) could approve RLUSD soon. If this happens, Ripple’s software could be used more widely by traditional banks, which could adopt RLUSD for transactions. As more banks use Ripple’s software, the demand for XRP is likely to rise as well, benefiting the token.

Ripple’s Growing Footprint in the Stablecoin Market

RLUSD has the potential to make a huge impact on the $200 billion stablecoin market, which is currently led by Tether (USDT) and Circle (USDC). With Ripple already well-integrated into the financial system, the addition of a stablecoin could further boost XRP’s utility and adoption. The more RLUSD is used, the more XRP could be needed for transactions, creating a positive feedback loop that benefits both Ripple and XRP. 

Legal Battle with the SEC May Soon End

Another factor that’s giving positive vibes is the Ripple vs SEC case coming to an end. SEC Chairman Gary Gensler recently announced he will step down in January, and many in the XRP community are hopeful that his departure could lead to a more favorable outcome for Ripple. Legal experts, including attorney Jeremy Hogan, suggest that the SEC may drop all non-fraud crypto cases, including Ripple’s, which could result in a settlement.

Positive Market Signals for XRP

Looking at XRP’s technical indicators, there are bullish signs across short, medium, and long-term trends. The moving averages show positive crossovers, suggesting potential price strength. While volatility is moderate at 7.75%, the RSI is at 93.89, indicating neutral conditions. The MACD shows mild upward momentum, signaling positive pressure in the market. Currently, XRP is trading at $2.39.