Will XRP Break $1 After 2024 Vote?

• XRP price history shows post-election surges, signaling a potential breakout.
• Institutional ETF applications boost market confidence in XRP’s long-term value.
• A recent court ruling reaffirms XRP’s regulatory clarity, driving broader adoption.

XRP’s price is mirroring patterns seen in past U.S. election years, potentially setting the stage for a significant breakout. Growing confidence from major investors and trading platforms could fuel a sharp upward move, potentially pushing XRP above $1.

The current market patterns for XRP seem to be aligning with previous election-year trends, marked by price compression and consolidation signaling a potential breakout. Past election cycles in 2016, 2020, and now 2024 have displayed similar technical indicators, prompting experts to believe that the cryptocurrency could witness substantial growth after the elections. In the past, XRP has formed higher lows during these periods, effectively setting price floors. 

As the 2024 US election approaches, technical analysts are monitoring these trends, speculating that a post-election surge could elevate XRP beyond the crucial $1 threshold.

Beyond the Election: Long-Term Strategies for XRP Investors

Adding to this trend is growing institutional interest and regulatory clarity. Leading firms like Bitwise, 21Shares, and Canary have recently applied for XRP-focused ETFs, indicating increasing confidence in the asset’s long-term potential. These ETF applications show the financial sector’s interest in providing accessible XRP-based products, catering to institutional investors who see promise in Ripple’s ecosystem.

Moreover, a court ruling affirming  XRP as a non-security has significantly boosted liquidity and accessibility, as exchanges across the U.S. have re-listed XRP. The launch of XRP futures by Bitnomial is a critical milestone, opening avenues for investors to engage with XRP in diverse ways.

Read also: Is XRP Undervalued? New Model Suggests Fair Value of $3,541

With these elements converging, optimism is building around XRP’s future. While the SEC’s appeal lingers, analysts believe that XRP’s recent regulatory win could pave the way for more stability and potential growth.

If historical trends and current indicators hold, XRP’s alignment with election cycles could once again lead to a post-election price surge, driving it past $1.