The Ripple Price had its best ever month, thanks to a number of catalysts including the rumored Swift partnership, the recent Trump victory, and the upcoming RLUSD Stablecoin Launch. The token’s price jumped up to $1.9697 – its highest since April 2021. In November it has increased by more than 278%, making this the second best month for XRP since December 2017, when it increased by 600%.
The price of Stellar Lumens soared after Ripple surged. XLM (Stellar Lumens), the token of Stellar, soared to $0.6390 – its highest price since May 2021. The price has increased by nearly 500% over the last 30 days. November is now its most successful month.
Ripple Stellar Prices Have Increased
Donald Trump’s victory in November was the main factor behind the XRP surge. Trump’s victory meant there would be major changes to the US policy, which has put Ripple under pressure.
Gary Gensler’s Securities and Exchange Commission sued Ripple labs, accusing it of having sold an unregistered investment to investors in 2013 This was a major lawsuit which affected Ripple Labs’ business, causing it to undo some deals the company made including one with Western Union.
Ripple was awarded some of the case and ordered to pay $250 million in fines earlier this year. Although it was an impressive sum, the amount was only a small part of $2 billion sought by the SEC. The SEC plans to appeal.
Investors are hoping that Trump will end the appeals process. This will allow the company to pursue new deals, and possibly launch an IPO.
The ripple price also increased amid speculation that Swift Society was planning to become a partner. Swift Society is an organization owned by banks that processes transactions of billions per day.
Swift and Ripple are yet to confirm if this deal will take place, so all that we can do is speculate. Over time, speculation tends to affect cryptocurrency prices.
Ripple also plans to become a major player in stablecoins by launching RLUSD. RLUSD is a stablecoin that’s pegged to the US Dollar 1:1. It will try to undermine Tether. As we’ve seen in the past with stablecoins such as USDD or PYUSD it won’t be easy to dislodge Tether.
The XLM Stellar token grew in value due to its similarity to Ripple. Gavin Wood was the founder of Stellar and a Ripple co-founder. Both companies are aimed at the payments sector.
Analysts also believe the odds for spot XRP ETFs and XLM have increased significantly in recent weeks, due to the Trump victory.
XRP ATOMIC BOMB I predicted this and was ridiculed, but who is laughing now? Warning: $XRP will go so much higher. This is a 6 year pattern break out perfectly traded. $2.70 represents the first Key Bull Barrier
Price forecast for Ripple (XRP)
Ripple’s near-term actions will determine the next XLM prices. The weekly chart shows that XRP has jumped up to $2 and is now slightly higher than its peak in 2021.
Ripple has jumped over the resistance level of $0.9370 to reach its highest point since July 2023. The 50-week average and the 100-week average have been surpassed. The MACD and Relative Strength Index both pointed up.
After the stellar performance of November, it is not impossible that a short pullback will occur. The next level to monitor will be $1.5. Long-term, it appears that the coin could reach a new high of $3.29 which would be 73% higher than its current value.
The post Ripple XRP & Stellar XLM Price Forecasts: More upside still? This post may change as new developments unfold
This site is for entertainment only. Click here to read more
