Here’s When Ripple (XRP) Price May Say Goodbye To $1 Forever (Analyst)

TL;DR

XRP lagged other assets despite a market rally linked to Trump’s victory. However, some analysts remain hopeful of a breakout if it clears key price levels. Ripple CEO Brad Garlinghouse welcomed Trump’s victory and called for changes like replacing SEC Chairman Gensler and clarifying Ethereum’s regulatory status. XRP is late to the party… Again

The cryptocurrency market has crashed in recent hours, caused by the triumph of Donald Trump in the US presidential election. The Republican has presented himself as the right choice for supporters of the asset class, promising bitcoin to thrive and hinting at the establishment of a national BTC reserve.

Today, the price of the main cryptocurrency reached a new all-time high of over $75,000, while it is currently trading around $74,200 (CoinGecko data). Other top performers include Dogecoin (DOGE), Solana (SOL), Avalanche (AVAX), Sui (SUI), and Uniswap (UNI), all of which exploded by double digits.

Ripple’s XRP is also in the green, although it is posting less substantial gains than most of its rivals. It’s currently trading around $0.53, which is up just 2.5% on a weekly basis. Those curious to find out why XRP might be lagging can check out our dedicated article here.

XRP Price, Source: CoinGecko

Despite its poor performance (compared to the rest of the market), many analysts remain optimistic that the asset has not yet taken off. According to user X EGRAG CRYPTO, the value of XRP has been following a so-called “just do it” chart (which resembles the logo of clothing giant Nike) for the past few years. The trader surmised that this trend could lead to price appreciation of up to $1.60 in the future.

They further suggested that “a solid weekly close above $1.10 and confirmation as strong support” could mean that XRP will never dip below $1 again.

Other analysts that have recently participated include Dark Defender and Crypto Rand. The former believes that XRP could experience a bull run if its price breaks through the vital resistance levels of $0.5286, $0.6044 and $0.6649. Crypto Rand stated that the condition of the asset recently represents a “do-or-die momentum”, establishing $0.50 as a major support zone.

Ripple CEO congratulates Trump

Prominent figures in the crypto world congratulated the Republican on his victory. Among them was Ripple CEO Brad Garlinghouse.

He also urged Trump to focus on some important points during his first 100 days in office. The main tip focuses on the firing of US SEC Chairman Gary Gensler. Remember that the Republican promised to remove the head of the agency on the first day.

Gensler and the regulator he heads have been at war with many crypto companies, including Ripple. The lawsuit between the company and the SEC has been among the hottest topics in the space for years.

It’s safe to assume that the XRP army is hoping Trump will follow through on his promise and replace Gensler with someone more open to innovation and less likely to stymie the industry’s progress with court battles.

Another point mentioned by Garlinghouse concerns the state of Ethereum (ETH). Specifically, he asked Trump to classify the second largest cryptocurrency as unsafe (similar to BTC and XRP).

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