XRP Price Outlook Brightens: Expert Predicts $2 Target Post-Gensler Era

Name	Symbol	Market	Market Cap ($)	Algorithm
Ripple	XRPUSD	Crypto	86,542,981,078	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ripple

XRPUSD

Crypto

86,542,981,078

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.050	3.40%	1.52	1.52	1.52

Price Change

Price Change %

Current Price

Bid Price

Offer

0.050

3.40%

1.52

High Price	Low Price	Open Price	Prev. Close	52 Week Range
1.64	1.47	1.48	1.47	0.382490 - 1.50

High Price

Low Price

Open Price

Prev. Close

52 Week Range

1.64

1.47

1.48

1.47

0.382490 - 1.50

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	10:41:33	605.91	1.52	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

10:41:33

605.91

1.52

USD

Price x Volume	Volume	Base Symbol	Related Pairs
447,993,299.48	287,021,532.24	XRP	XRPEUR	XRPGBP	XRPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

447,993,299.48

287,021,532.24

XRP Price Outlook Brightens: Expert Predicts $2 Target Post-Gensler Era

22/11/2024 3:30pm

NEWSBTC

On Thursday, the XRP price soared to $1.41, marking its highest trading value in over three years. This surge coincides with a shifting regulatory landscape in the United States, spurred by the anticipated administration of President-elect Donald Trump. During his campaign, Trump pledged to position America as the “crypto capital of the world,” a promise that is beginning to resonate with market participants even before his inauguration on January 20, 2025. Gensler Sets Last Day At SEC For January 20 In recent weeks, the cryptocurrency market has seen a notable uptrend, with Bitcoin leading the charge and achieving consecutive all-time highs. This momentum is in part a response to the positive sentiment surrounding Trump’s pro-crypto promises, which is expected to facilitate a more favorable environment for digital assets. Related Reading: FTX Provides Details On $16 Billion Distribution Timeline For Customers And Creditors Central to this optimism is the expected departure of Gary Gensler, the current chair of the US Securities and Exchange Commission (SEC). Gensler has been criticized for fostering an unclear regulatory environment that many argue has stifled the growth of cryptocurrencies in the US. For XRP and Ripple Labs, this scrutiny has been particularly pronounced over the past four years under the Biden administration. Trump previously vowed to remove Gensler from his position, a move that many in the crypto community view as a necessary step toward clearer regulations. Yet, on the same day as Trump’s anticipated inauguration, Gensler confirmed that January 20, 2025, will be his last day at the SEC. His resignation preempts what many experts speculated could be a contentious conflict if he remained in office while Trump sought to replace him. XRP Price Surges Nearly 30% In 24 Hours This shift in the regulatory landscape in the US has contributed to a clearer outlook for digital assets, as reflected in XRP price movements. In the past 24 hours alone, XRP recorded gains of nearly 30%, and over the past week, it has increased more than 70%. Crypto analyst Ali Martinez recently shared his views on X (formerly Twitter), stating that Gensler’s exit could be highly beneficial for both Ripple Labs and the XRP price, which he believes is now targeting $2. Related Reading: Ethereum Sees Neutral Netflow On Binance: What Does This Signal? Another analyst, CrediBull, echoed this sentiment, noting that XRP’s monthly Relative Strength Index (RSI) is approaching overbought territory for the first time in three years. The analyst emphasized that a higher RSI typically indicates stronger momentum and bullish prospects for the asset, absent any bearish divergences. CrediBull suggested that the next significant target for XRP is $2, with aspirations for new all-time highs thereafter. Currently, the token’s all-time high stands at $3,040, which was reached nearly seven years ago in January 2018. This means that the XRP price could be in for a massive 150% uptrend in the coming months. Featured image from DALL-E, chart from TradingView.com

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Precious Metal

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