- XRP surged 17% after being listed on Robinhood, reaching its highest price in 2024 at $0.84.
- The 85-cent zone is historically significant for XRP, serving as both resistance and support.
- Optimism for Ripple’s future is bolstered by potential changes in SEC leadership under President-Elect Donald Trump.
Ripple’s XRP just reached its highest price in 2024. The currency’s value growth comes just after the popular trading exchange “Robinhood” listed the token on its platform. On November 13, Robinhood expanded its cryptocurrency listings in the United States, adding the Altcoins Pepe, Cardano, Solana, and the aforementioned XRP.
This development had a great impact on these currencies’ markets. Particularly Ripple was among the top earners of the last 24-hour period.
Over the past day alone XRP gained around 17% in value, going from $0.69 to $0.81 in that timeframe. At its daily peak, the asset reached $0.84 reaching the highest level of the year so far.
The last time XRP traded near the 85-cent margin was in July 2023. However, during that time Ripple was still overly embroiled in the legal battle with the SEC – which ultimately led to a downfall to nearly $0.30.
This time, however, the asset is testing that zone while coming from below. If successful – the market could begin to consider seeing XRP back at the one-dollar margin.
Interestingly, the 85-cent zone is arguably one of the most important price-action zones in Ripple’s history. During the 2021-2022 crypto boom, this margin served as both resistance and support zones for the asset for several different times.
As previously mentioned, the token also tested and failed this zone in July of 2023, before crashing downwards.
And then, nowadays XRP appears to be ready to test this zone once again, backed by the extremely optimistic momentum the cryptocurrency had in November.
There is good reason to be optimistic about Ripple’s future. President-Elect Donald Trump has already hinted at a potential replacement for current SEC Chair Gary Gensler. If that happens, logic concurs that Ripple would be one of the crypto assets more favored by this development.
