XRP is having a red-hot run over the last 24 hours as the token continues to break critical resistance levels, potentially targeting the $3 mark.
At press time, XRP was trading at $2.83, a gain of almost 10% in the past day. In the weekly timeframe, the token has surged by over 20%.
This short-term momentum has been characterized by significant buying interest, pushing the market cap to $163 billion—an increase of nearly $20 billion in the last 24 hours.
XRP seven-day price chart. Source: Finbold
XRP’s path to $3
The current rally can be tied to several factors, with regulatory developments appearing to play a significant role. For instance, XRP is gaining momentum ahead of Gary Gensler’s exit from the SEC.
Notably, the regulator has long been viewed as a barrier to cryptocurrency sector growth, and the XRP community, in particular, has been at odds with Gensler following the SEC’s lawsuit against Ripple.
Additionally, Sean Dawson, head of research at the on-ch
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