Thu Nov 14 22:20:00 UTC 2024: ## XRP Surges to 2024 High Following Robinhood Listing and Trump Victory

**New York, November 14, 2024** – Ripple’s XRP token surged to a new 2024 peak of $0.76 on Thursday, fueled by a combination of positive market sentiment and the announcement of its listing on the popular trading platform Robinhood. The move comes amidst a broader crypto rally fueled by Donald Trump’s landslide presidential victory and the expectation of a more crypto-friendly regulatory environment under his administration.

XRP’s initial price performance lagged behind the broader crypto market in the aftermath of Trump’s win, recording a subdued 25% gain compared to the over 50% gains seen by Bitcoin, Dogecoin, and Solana. However, the tide turned after Robinhood announced the listing of XRP, Solana, and Cardano on November 13. This move marks a significant shift in the US regulatory landscape, as major crypto platforms previously delisted these assets following the SEC’s lawsuit against Binance and Coinbase in 2023.

The re-listing of XRP and other large-cap altcoins signals growing anticipation of a positive change in US crypto regulations under the new administration, which is expected to replace SEC Chair Gary Gensler with a more crypto-friendly candidate.

On-chain data suggests that the Robinhood listing has instilled confidence in XRP’s long-term price prospect. Exchange reserves of XRP have declined by over 45 million tokens in the past 48 hours, valued at over $33 million, as investors shift their holdings from short-term trading to long-term investment. This reduced liquid supply further intensifies upward price pressure.

Technical indicators also point towards a bullish outlook, with the Bull-Bear Power (BBP) indicator displaying strong buying momentum. If XRP can maintain support above $0.70, analysts believe it could surge towards the next psychological resistance level at $0.80, and potentially even reach $0.85.

However, a drop below the $0.70 support level could invalidate this bullish thesis, potentially triggering selling pressure and causing a decline towards the R1 pivot level around $0.60.

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