XRP has recently experienced a breakout from a seven-year consolidation pattern, indicating a potential price increase of 50% in the near future. Following the US elections on November 6, XRP surged by 134%, marking over 80% gains year-to-date and pushing its price above $1 for the first time since December 2021. However, current technical indicators suggest that XRP may be overbought, leading to a possible correction from its recent highs. As of now, the price has retraced approximately 9.75%, stabilizing above $1, which has turned from resistance to support. If a pullback occurs, XRP could drop to around $0.936. On a bullish note, breaking above $1.35 could confirm a long-term bull cycle, targeting around $1.75 in 2025, coinciding with Fibonacci retracement levels. This bullish scenario is contingent on regulatory developments, particularly concerning the SEC and potential ETF approvals.

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