The altcoin market is witnessing significant activity, particularly with XRP’s technical formation of a “falling triangle.” A potential upward breakout from this formation could lead to a price increase of up to 40%. Since Donald Trump’s presidential election victory, XRP’s price has surged by over 300% since November.
Falling Triangle Formation and Bullish Expectations
XRP’s price declined from around $2.90 at the beginning of December, creating a formation often interpreted as bearish. This formation comprises a horizontal support line and a downward-sloping resistance line. However, according to technical analysis principles, upward breakouts are typically seen as more rewarding and reliable.
Crypto analyst Omkar Godbole noted that if the price breaches the resistance line, we could see the continuation of the upward trend that started at the $0.50 mark in early November. In this scenario, a rise exceeding 40% is possible. However, he emphasized that if the price falls below the support level of $2, this optimistic outlook would be invalidated.
The Trump Factor Accelerates XRP
The significant rise in XRP’s price over recent months is largely attributed to Trump’s election. Ripple 
$2 Labs CEO Brad Garlinghouse stated that the new administration is expected to adopt a more favorable stance on cryptocurrency regulations. He mentioned that this period might resolve issues Ripple faced in the U.S.
Furthermore, it is anticipated that the Trump administration’s changes in leadership at the SEC could eliminate the legal uncertainties surrounding XRP. Ripple’s President Monica Long indicated in a recent interview that including XRP in exchange-traded funds (ETFs) has become a more realistic goal.
A social media report published by Santiment also highlights a growing optimism within the XRP community. Market expectations for XRP are portrayed more positively compared to other major cryptocurrencies like Bitcoin (BTC) 
$93,531 and Ethereum (ETH) 
$3,318.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
