XRP Price Breaks Out: Bull Trap or $5 Next?

Bulls are hopeful for a new all-time highs of $5 in the coming weeks, considering it has breached key resistance levels in its spot and BTC charts. Donald Trump’s inauguration and the incoming pro-Ripple SEC administration are also fueling the optimism.   

However, investors are still concerned about a potential bull-trap, particularly if Trump’s inauguration turns out to be a sell-the-news event. 

Why Is XRP Price Rallying And Can It Maintain The Bullish Momentum?

XRP broke out of a bullish pennant formation on its daily chart, forming a new-yearly high of $2.89 in the aftermath. Interestingly, its $170 billion market capitalization has surpassed that of BlackRock and Disney. 

As previously stated, it is one of the strongest altcoins on the market and likely one of the best bets heading into the highly-anticipated altseason. 

XRP’s recent price action is marked by heavy whale bidding. Prominent analyst Ali Martinez reveals that whales purchased over 1.09 billion $XRP over the past week. 

He also reveals the number of XRP transactions worth over $1 million has skyrocketed in the past 24 hours. On-chain data from Santiment further reveals a nearly 40% surge in the XRP held by whale wallets, which already held between 1 million and 10 million tokens. 

Rallies driven by whale accumulation often have a high potential for sustained bullish momentum, which positions XRP as one of the best cryptos to buy now. 

There has also been a drastic improvement in XRP’s fundamentals following Donald Trump’s US Presidential victory. Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty have met with Trump on multiple occasions and have committed $5 million to his inaugural fund. 

With Trump reportedly set to sign over 100 executive orders on day one of his presidency, Ripple could be one of the beneficiaries. 

There is also a strong possibility that the new SEC administration, led by incoming pro-crypto chair Paul Alderoty, will drop or settle its lawsuit against Ripple. The fact that outgoing Chair Gary Gensler refused to postpone SEC’s opening brief filing, scheduled today for January 15th, suggests the new administration doesn’t agree with its views. 

Buy XRP Today or Wait?

Despite XRP’s rosy prospects, sidelined investors would do well to be cautious of a potential bull trap heading into Trump’s inauguration. 

Alternatively, they could wait for a daily or weekly close above the $2.90 resistance, which would pave the way for new all-time highs. 

Other Best Cryptos To Buy Now

Besides XRP, Sui is another Layer-1 coin that is being viewed as one of the top crypto investments heading into the altseason. 

Similarly, experts believe frog meme coin Pepe is nearing a major breakout. Smart money investors are already buying low-cap frog meme coins, considering they tend to explode in correlation with Pepe’s bull rally. 

For instance, Wall Street Pepe (WEPE) is nearing the $50 million mark during its ongoing presale. 

Thanks to its VIP “alpha calls” group, staking platform and community-centric tokenomics, a few prominent investors are viewing WEPE as the next 100x meme coin. 

A new Pepe-themed AI agent coin, Mind of Pepe (MIND) is also in high demand and has raised over $1 million in its ICO in a matter of few hours. 

The new AI coin promises real-time market intelligence, backed by cutting-edge AI tech and community intelligence, exclusively for MIND holders, which explains the token’s strong presale demand. 

The AI agent will also have an X account, which is not just beneficial for collecting community alpha but also an excellent marketing ploy. 

$MIND has its own staking pool, a feature missing in many AI agent coins, and is currently offering a yield percentage of over 1600% per annum. 

Considering the hype surrounding AI agent coins, it isn’t a surprise that experts are already viewing Mind of Pepe as a 10x investment. 

Visit Mind Of Pepe Presale