XRP‘s value experienced a notable rise of 2.8% following Bitcoin‘s surge past $76,000, reflecting a positive trend in the cryptocurrency market. Influential crypto commentator BitBoy has suggested that XRP could see a substantial price increase if former President Donald Trump takes action against SEC Chairman Gary Gensler.
Could XRP Coin See Increased Value?
The potential impact of Trump’s victory on Ripple is significant, with many in the crypto community advocating for Gensler’s removal, believing that such a move would favorably influence XRP’s market performance.
What Did Ripple’s CEO Urge After Trump’s Victory?
Following Trump’s electoral success, Ripple’s CEO publicly congratulated him on November 11 through the X platform, urging for Gensler’s immediate dismissal while proposing potential successors like Christopher Giancarlo, Daniel Gallagher, or Brian Brooks.
Recent discussions suggest that if Gensler is removed, Mark Uyeda may take his place, continuing the ongoing shifts within the SEC. Last week, XRP’s price climbed 6%, reaching approximately $0.5515, with technical indicators hinting at increased market volatility and the potential to break significant resistance levels.
- XRP could rise to $0.66 if it surpasses the $0.55 resistance.
- Should it break above $0.66, targets of $0.94 or even $1 are possible.
- A drop below $0.50 may negate optimistic forecasts.
The trajectory of XRP remains closely tied to the potential SEC leadership changes and broader market trends, prompting stakeholders to stay alert for developments that could influence their decisions.