News 
January 15, 2025 
3 min. 
XRP is experiencing strong bullish momentum, with its price climbing to $2.74, reflecting a 6.78% rise in the last 24 hours, according to Coingecko data. The altcoin’s market capitalization has reached $146.63 billion, and its 24-hour trading volume has surged to $7.87 billion, indicating significant market activity.
Breakout Signals Renewed Bullish Sentiment
The recent price jump follows XRP’s breakout from a symmetrical triangle pattern, which had contained its price action since December. This pattern, formed by converging trendlines, served as a consolidation phase before the decisive breakout above the upper resistance line.
Crypto analysts view this breakout as a positive signal, suggesting that buyers are regaining control. The current bullish trend could allow XRP to test the key psychological $3 level, although this will be a tough milestone to reach. On the other hand, if the coin fails to hold its current price levels, it could see a retest of the previous resistance, now turned support, at $2.30.
Analyst Ali highlighted XRP’s bullish structure, calling it “one of the most bullish setups in crypto right now.” In late December, XRP broke above its previous resistance at $2.30, setting the stage for the current surge.
Regulatory Concerns Amid XRP Bullish Momentum
As XRP continues its bullish climb, the broader regulatory landscape remains a source of concern. Pro-XRP lawyer John E. Deaton recently criticized the SEC’s regulatory approach, stating that its handling of crypto regulations has significantly damaged its reputation. In reference to outgoing SEC Chair Gary Gensler, Deaton remarked, “Gensler is leaving the SEC in disgrace.”
Deaton also pointed out the challenges facing the new SEC Chair, Paul Atkins, emphasizing the need for clarity in the crypto regulatory framework. He further addressed the accredited investor rule, calling it oppressive and inconsistent with free-market principles, saying, “The rule is inconsistent with free market capitalism and oppressive in a society of self-determination.”
These comments highlight growing concerns within the crypto industry regarding regulatory policies, adding a layer of uncertainty as traders look to XRP’s breakout as a signal for continued gains. As traders eye $3 as the next significant milestone, the evolving regulatory environment remains a key factor in the future of the altcoin.
