Top Ripple (XRP) price predictions in the afternoon

TL;DR

XRP rose by double digits last week, with analysts predicting additional gains of up to $8. Rumors of replacing SEC Chairman Gary Gensler with a new pro-crypto leader could help Ripple’s legal woes, further boosting XRP’s growth. The possible journey to a new ATH

Ripple’s XRP failed to join the massive bull run in the cryptocurrency market following Donald Trump’s victory in the US presidential election. However, last week, it followed suit and even outperformed all of the top 20 digital assets. At the time of writing, it is trading at $1.13 (according to data from CoinGecko), representing a 67% increase on a seven-day scale.

XRP Price, Source: CoinGecko

The resurgence fueled much excitement in the XRP community, while several analysts predicted further gains in the near future.

X user Mikybull Crypto believes that the rally of the asset has yet to begin. The trader surmised that XRP could see a massive jump in price if Bitcoin (BTC)’s dominance declines. Currently, the main cryptocurrency accounts for almost 60% of the total crypto market share. Its dominance has been on the rise since late 2022, and it will be interesting to see if there will be an eventual altcoin season that could cause a change in trend.

JAVON MARKS envisioned a “bullish breakout” that could send XRP’s valuation above $3, while Crypto Ceaser was even more bullish.

The latter believes the price may “cool down a bit” in the short term and then begin a journey to an all-time high of nearly $8.

Crypto Tony chimed in as well. He described a potential consolidation and pullback to $0.92 as “a gift.” “I’d love to see that and then suspend the daily close. I’m long from 0.66c as a share,” the trader added.

Waiting for Gensler’s possible resignation

An important factor that may lead to a further increase in the price of Ripple’s native token is the change in the leadership of the US Securities and Exchange Commission (SEC). As of 2021, the agency is headed by Gary Gensler, known for his anti-crypto stance. During his tenure, the SEC filed countless lawsuits against cryptocurrency companies, including Ripple.

According to many market watchers, Gensler’s days at the helm are numbered. After all, Trump promised to fire him on Day 1 after taking office. The regulator’s previous chairs, Mary Jo White and Jay Clayton, resigned days after the 2016 and 2020 presidential elections, respectively, which also suggests that the current leader could leave his post soon.

The next chair is expected to be pro-crypto. This change could lead to a faster resolution of Ripple’s legal battle against the SEC (and other cases) and positively affect XRP and the entire market.

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