XRP Surges 375% Post-US Election, Bulls Eye $10K

XRP, the native cryptocurrency of the Ripple network, has been experiencing a rollercoaster ride in recent weeks, with its price fluctuating significantly. Currently trading around $2.50, XRP saw a substantial drop after an initial price spike but has since rebounded, hinting at a potential bullish trend. Analysts are closely watching the altcoin's progress, hoping for an extended bull run similar to the one witnessed in 2021.

Since the U.S. election, XRP has surged by an impressive 375%, significantly outperforming the broader market. This surge can be attributed to increasing interest from new buyers, as active XRP wallets have jumped by 620% in the past week. The market's fear and greed index has improved, moving up to 30, signaling a shift toward a more optimistic outlook. Bitcoin dominance remains steady at 60%, and the overall market cap has risen to $3 trillion, with altcoins also gaining momentum.

However, not all analysts are bullish on XRP's short-term prospects. Josh of Crypto World, an analyst, has noted a bearish divergence on the 3-day timeframe, suggesting that while short-term movements may fluctuate, a major bullish momentum similar to the rise seen in November last year is unlikely.

In the short term, XRP is bouncing from a key support area between $2.25 to $2.30. The next resistance levels to watch are between $2.65 and $2.80, with additional resistance at $3 and $3.20. The RSI has recently bounced into overbought territory but has since reset after a pullback. At the moment, the RSI is neutral, suggesting that XRP's price may remain in a sideways range for the short term. If Bitcoin and other major altcoins stay neutral, XRP is likely to follow suit with some choppy price action.

Looking ahead, analysts predict a significant increase in active addresses, which could drive the XRP price up by 620%. Additionally, the Ethereum resistance test is expected to impact XRP's price movement. Crypto analyst Crypto Pal has shared an ultra-bullish prediction of the XRP price reaching $10,000 to $35,000, suggesting that this could happen following XRP's