Interesting Ripple (XRP) Price Predictions Amid US Presidential Election Conclusion

TL;DR

Ripple’s XRP saw a 6% daily gain as analysts see potential upside to $0.65 if it breaks through key resistance. With Trump promising to oust SEC Chairman Gary Gensler, some predict that could boost the asset, possibly making it a better performer during his presidency. XRP is trying to catch up

Ripple’s XRP was among the few leading cryptocurrencies that did not experience any substantial gains following the news of Donald Trump’s victory in the US presidential election. The asset appears to be in much better shape today (November 7), with the price up 6% on a 24-hour scale and briefly reaching nearly $0.57. It is currently trading around $0.55 (according to CoinGecko data), which means a 7.5% increase in the last seven days.

XRP Price, Source: CoinGecko

Numerous market watchers noted XRP’s resurgence, predicting a potential for further recovery. User X CRYPTOWZRD claimed that the asset “closed strongly bullish” on November 6, arguing that a successful break of the $0.55 resistance zone could lead to a bomb towards $0.65.

The analyst surmised that firing current US SEC chairman Gary Gensler will “help XRP gain more confidence.” Remember that Trump promised to remove the head of the securities regulator on the first day after taking the helm.

Gensler and the SEC have been at war with Ripple, filing a lawsuit against the company in 2020. The case, which centers on whether the company’s sales of its native token (XRP) constituted unregistered securities offerings, still is ongoing

Ben Armstrong, better known as “BitBoy”, shared a similar thesis. He believes Gensler’s potential firing could make XRP the top 100 cryptocurrencies during Trump’s presidency.

Additional forecasts

Other industry participants predicting a bright future for XRP include Brett and EGRAG CRYPTO. The former surmised that the crypto market “has entered the most exciting phase of this cycle,” and predicted a skyrocketing rise for XRP.

EGRAG CRYPTO believes that the token’s valuation has been following a so-called “just do it” chart (which resembles the logo of apparel giant Nike) in recent years. They suggested that this trend could cause the price to rise to $1.60 in the future.

User X also opined that “a solid weekly close above $1.10 and confirmation as strong support” could mean XRP will never drop below $1 again.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!