Is $2 the New $0.50 for XRP? Here’s How Often XRP Tested $2 Since November 2024

The $2 mark appears to have served as a technical anchor for XRP since November 2024, similar to how $0.50 played the same role in early 2024.

Recall that $0.50 served as a strong support level for XRP during the peak of the SEC v. Ripple lawsuit. During that period, the price of XRP often tested the $0.50 price mark and later rebounded without closing below it.

Following the consistency of this movement, the $0.50 mark became an important floor price for XRP in early 2024 and the months leading up to the U.S. election. However, XRP got a major break in November 2024 following President Donald Trump’s reelection. Shortly after the election, XRP embarked on a rally that led to a massive price spike.

Number of Times XRP Tested $2 Price Mark Since November 2024

Abdullah “Abs” Nassif, the host of the Good Morning Crypto show, called attention to this development, highlighting the number of times XRP tested the $2 mark since November 2024.

According to the expert, XRP has tested the $2 price mark eight times since November 2024. Since XRP reached the $2 threshold, Nassif emphasized that the coin has never had a daily close below the mark.

This indicates that even though XRP sometimes plunges below $2 due to massive sell-offs, bullish activity usually pushes the price above that level at close, preventing it from ending the day below this support.

It bears mentioning that data from CoinMarketCap shows XRP hit the $2 price mark on December 1, 2024. Ever since, it has never traded below the $2 price mark.

Factors Keeping XRP Above $2

Some factors have been instrumental in helping XRP stay above the $2 support. They include speculation about the resolution of the Ripple lawsuit, XRP ETF approval, and XRP inclusion in the U.S. digital asset stockpile initiative.

As previously reported, Ripple disclosed that the SEC had dropped its appeal, adding that it returned the gesture by dropping its cross-appeal. While the settlement terms have not been documented in court, XRP community members believe the lawsuit has ended.

Last month, Donald Trump mentioned XRP among the five digital assets to be included in the U.S. digital asset reserve. Although the official executive order did not include XRP, enthusiasts have remained confident that the coin will be featured in the stockpile, which is expected to hold only altcoins.

Lastly, speculation suggests that the U.S. SEC will approve at least one XRP ETF this year from the list of over 11 filings. This confidence stems from the resolution of the Ripple case–which ended the regulatory uncertainty surrounding XRP.

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