US President Donald Trump’s recent mention of Ripple and XRP on Truth Social has stirred the crypto markets. This development has caused investors to question whether XRP price could extend its impressive 2024 rally and hit $100.
XRP price trades at $2.56 today after dropping by 3.65%. The altcoin has lost $17 billion from its market capitalization in the last four days.
XRP Price Impact: US President Donald Trump Endorses Ripple
Trump mentioned Ripple in two consecutive posts on Truth Social on Wednesday acknowledging previous remarks made by Ripple CEO Brad Garlinghouse about the company securing more deals in the US following Trump’s election. These deals allowed Ripple to increase its US workforce.
Garlinghouse made these remarks in early January saying that the “Trump effect” on the crypto industry was promoting innovation and job growth. As Coingape reported, the executive also opined that the “Trump bull market” was more personal for Ripple after an oppressive regulatory framework stifled its US business.
Ripple has been at the center of discussions since Trump’s election. In early January, Garlinghouse revealed that he had dinner with President Trump at his Mar-a-Lago resort, highlighting XRP’s growing presence in Washington. Ripple’s CTO, David Schwartz, has also mentioned that XRP is on the “cusp of mass institutional adoption.”
Additionally, speculation is rife about XRP being included in Trump’s plans for a national crypto reserve. On Polymarket, the odds of this reserve being launched stand at 15%.
Following Trump’s recent endorsement and Ripple’s growing presence in Washington, it is likely that XRP could rally toward $100. Moreover, the recent acknowledgment of Bitwise’s filing for a spot XRP ETF by the US Securities and Exchange Commission (SEC) is a bullish catalyst. While the $100 target may not happen in 2025, it could be achieved given a long enough time.
Can XRP Price Realistically Hit $100 With Trump’s Support?
As noted in a previous CoinGape publication, XRP price hitting $100 is not unlikely. If the 2017 bull run fractal repeats, then XRP is on the cusp of an exponential bull run. The 2017 bull rally saw Ripple breach the initial range and extend beyond the 161.8% Fibonacci Extension level to form a local top between 227.2% and 241.4% Fibonacci extension levels.
Considering that XRP price is attempting to break the range high of $2.90, investors are expecting a similar outlook to unfold. If the 2017 history rhymes, Ripple could form a top between $178 and $282, coinciding with the 227.2% and 241.4% Fibonacci extension levels.
With such an exaggerated target, $100 seems likely, especially under these two conditions – an endorsement from US President Donald Trump and the potential launch of a national XRP reserve.
Key Short-term XRP Levels to Watch
XRP price is defending key support at the 61.8% Fibonacci level of $2.39 on the one-day chart. Sellers are active and pushing the XRP value today down as depicted by the four red consecutive candle sticks and volume histogram bars.
The Relative Strength Index (RSI) remains in bearish territory following a drop to 45. A drop of the RSI line below the signal line will confirm strengthening bearish trends that could push the altcoin toward the $2.11-$2.39 support zone.
On the other hand, the Money Flow Index (MFI) shows a potential bullish divergence after rising to 63. For now, traders should watch out for the RSI breakout above 50 and an increase in buying volumes to confirm a return of bullish momentum.
If buyers resume, XRP faces immediate resistance at the 38.2% Fibonacci level at $2.77, with a decisive breakout set to push the price toward the recent high of $3.40.
While the short-term price outlook shows a slightly bearish outlook, the long-term XRP price forecast suggests a positive outlook due to the continued endorsement by Trump, and a friendly US regulatory framework.
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