- XRP rebounds to $2.12 as Tuberville’s Financial Freedoms Act fuels buying interest.
- A whale acquires 9M XRP ($18M), signaling strong institutional demand.
- Technical indicators suggest XRP could break $2.55 if momentum persists.
XRP price stabilized a bit on Tuesday after Senator Tommy Tuberville of Alabama introduced the Financial Freedoms Act. This bill, if passed into law, would allow US investors to allocate part of their retirement funds to crypto.
Senator Tuberville’s Bill Sparks Renewed Interest in XRP
Following Alabama Senator Tommy Tuberville’s introduction of the Financial Freedoms Act the XRP price displays strong recovery signals. This legislation allows Americans to invest part of their retirement money into cryptocurrency assets. The introduction of the Financial Freedoms Act has sparked new purchasing momentum in XRP leading to its value increase.
The proposed law reaches the crypto market at an essential moment while it copes with stringent regulations from the Biden administration. The interview with Fox Business revealed Senator Tuberville’s call for reversing regulatory limitations to provide Americans with improved decision-making power in financial matters. Market sentiment turned positive because of this stance with XRP emerging as one of the leading altcoins having a substantial market share in the United States.
XRP Price Sees Buying Pressure from Whales
XRP has attracted substantial interest from major investors due to the market’s renewed optimism. A whale used Binance to buy 9 million XRP tokens, which totaled roughly $18 million, according to the latest on-chain information. The substantial purchase of XRP tokens indicates that institutional investors expect price increases soon.
The trading price of XRP stands at $2.12 which shows its value has risen by 2.4% during the last day. The price floor at $2 solidified as a strong support level, stopping any further downward movement and creating conditions for a possible upward trend. The price of XRP might reach $2.55 if current buying trends persist, thus supporting a bullish perspective.
Technical indicators currently indicate positive momentum for XRP. The Relative Strength Index (RSI) has risen above oversold levels while forming higher low points, which indicates stronger buying interest. XRP has moved beyond the lower Bollinger Band to reach the middle band which may act as its upcoming resistance level. A breakthrough would likely lead XRP to achieve price increases exceeding $2.55.
Financial Freedoms Act to Strengthen XRP’s Market Position
The Financial Freedoms Act is expected to drive further demand for US-based altcoins, with XRP positioned to benefit significantly. Market analysts predict that the successful passage of this legislation will result in higher investment from American retirement funds.
The United States government plans to release official news this week about including XRP, SOL, and ADA digital assets in its holdings portfolio. Experts predict that this forthcoming recognition will boost the positive outlook for Ripple because expanded government acceptance will strengthen its credibility in banking operations.
With these factors in play, XRP appears poised for substantial gains in the coming months. As long as the price holds above the crucial $2 support level, a steady rise toward $3 remains within reach.
