XRP broke through $1 for the first time since November 2021, with the possibility of a meeting between Ripple CEO Brad Garlinghouse and President Trump in November 2024 being raised.
While CEO Garlinghouse actually met with President Trump in January 2025, the market had already reacted to this news. The XRP price surged 126% from $1.28 to $2.91 between November 26 and December 3.
The market's attention is focused on the news that Chris Larson, Ripple co-founder and board chairman, will meet with the new SEC Chairman Paul Atkins on May 2, 2025. Investors are watching whether this meeting could drive further XRP price increases.
Popular market analyst Cashtrade analyzed in early May that XRP is attempting to break through the critical resistance level of $2.25. XRP failed to break this price level and showed a downward trend, recently retesting the $2.25 level, with projections it could drop to the $2 level.
If XRP loses momentum and declines, it could drop to $1.90. This is an untested level after the breakout and coincides with key technical support lines.
The short-term chart's Relative Strength Index (RSI) indicates an overbought market, suggesting any correction would be temporary. If XRP converts $2.25 to a support level, the next targets could be $2.68 and $3.
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