NAIROBI (CoinChapter.com) — XRP might be on the brink of a significant breakout, with analysts suggesting it could reach $1 if Donald Trump removes SEC Chair Gary Gensler. Trump’s wins in key U.S. states have raised investor optimism, fueled by his promises of crypto-friendly reforms and a proposed Bitcoin reserve.
XRP’s $1 Breakout Looms—Can It Smash Key Resistance Levels?
XRP is currently trading around $0.5447, up 2.35% over the past day.
XRP’s weekly chart shows a tightening symmetrical triangle, a pattern that often leads to strong price moves. This setup has been forming since 2021, as XRP’s price has moved between a descending resistance line and an ascending support line. Currently, the upper edge of this triangle sits near $0.70. This marks a critical resistance level, while support remains at the lower boundary around $0.40–$0.45.
EGRAG CRYPTO, an analyst on social platform X, suggests that if XRP can close above $1.10 weekly, it could establish a firm $1 support. This would set the stage for a rally, potentially reaching $1.60.
Meanwhile, Dark Defender, an XRP trader, points to resistance levels at $0.5286, $0.6044, and $0.6649. He argues that a clear move above these could ignite a rally, setting the stage for $1. Meanwhile, Crypto Rand calls $0.50 a “do or die” support level. It is critical for XRP to hold this level if it’s to sustain any bullish momentum.
Ripple CEO Urges Trump to Replace SEC Chair
Ripple CEO Brad Garlinghouse called on Donald Trump to remove SEC Chair Gary Gensler immediately upon taking office. Trump previously promised to appoint a new SEC chairman if he won the election, a goal that was achieved on November 6.
Garlinghouse suggested names like Chris Giancarlo and Brian Brooks, who are supportive of digital assets.
Garlinghouse argues that Trump’s influence could bring much-needed clarity to XRP’s legal status, especially amid ongoing SEC litigation. With Congress showing increased support for crypto, a shift in regulatory stance could pave the way for XRP’s growth.
Trump’s political influence and the growing support for crypto in Congress are setting the stage for major gains in the digital asset space. With Gensler’s removal on the horizon and a potential regulatory overhaul, XRP could soon hit $1.
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