XRP price has captured significant market attention this week, achieving a milestone by surpassing the $2.5 mark for the first time since November 2018. The cryptocurrency’s value doubled amid a broader market rally, reflecting increased investor enthusiasm and robust sentiment. The conclusion to the long-drawn battle between the US SEC and Ripple also plays a pivotal role in adding a tailwind to this uptrend. Ripple’s seven-year consolidation followed by its run-in with the SEC and the exponential rally, it wouldn’t be surprising to compare it to the electric car manufacturing company, Tesla. Both the assets share a similar price action and legal troubles. If this similarity continues, the technical outlook suggests that the XRP price could continue its ascent and multiply to a digit target.
