Blockchain 🔗XRP Will Hit $1 After Donald Trump Kicks Gary Gensler Out of...

XRP Will Hit $1 After Donald Trump Kicks Gary Gensler Out of SEC

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.

XRP/USD 1-day price chart. Source: TradingView

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.

EGRAG CRYPTO forecasts XRP’s bullish breakout pattern. Source: X

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.

Brad Garlinghouse urges Trump to reform SEC leadership. Credit: X

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.

The post XRP Will Hit $1 After Donald Trump Kicks Gary Gensler Out of SEC appeared first on CoinChapter.

- Advertisement -spot_img

More From UrbanEdge

SHIB Is Breaking Out of a 4-year Downtrend: Analyst Predicts Next Stop

Experts believe Shiba Inu (SHIB) is reversing its multi-year...

Expert Outlines Key XRP Entry Points, Predicts $6 to $8 Price Range

A well-known market analyst has identified favorable entry points...

XRP to $8 and $11? Top Analyst Reveals Key Dates and Projections

An influential market analyst has outlined projections for XRP’s...

Ripple CEO Confirms When His “60 Minutes” Interview Will Air

Ripple CEO Brad Garlinghouse has confirmed that his highly...

Here’s the Answer to Why Ripple CEO Gets Spotlight on 60 Minutes

Ripple, the blockchain-based payments company, is poised to make...

XRP Futures Open Interest on Binance Surpasses $1.15 Billion Amid Price Surge

Brett, a well-known crypto analyst on X, has highlighted...

ChatGPT Predicts Cardano (ADA) Price For December 31, 2024

Cardano is currently one of the most talked about...

New White House Crypto Czar Has Been Watching Ripple and XRP Case

President-elect Donald J. Trump recently announced the appointment of...

Trump Appoints David Sacks as White House AI and Crypto Czar

YEREVAN (CoinChapter.com) — President-elect Donald Trump has named David...
- Advertisement -spot_img