The recent crash in XRP's price to $2 may indicate the end of a bearish second wave in its price cycle and the beginning of a bullish third wave.
The launch of Ripple's RLUSD stablecoin and the pro-crypto stance of the president-elect, Donald Trump, are contributing to the optimistic outlook for XRP.
The appointment of Paul Atkins, a pro-crypto advocate, to a regulatory position could enhance XRP's prospects by creating a more favorable regulatory environment.
The potential approval of XRP exchange-traded funds (ETFs) could attract institutional investors and further legitimize XRP.
Technical analysis also supports a positive outlook for XRP, with various indicators aligning with the optimistic sentiment.
XRP is currently trading at approximately $2.36, reflecting a 4% increase in the last 24 hours.
These developments suggest that XRP may be on the verge of a significant upward movement.