{"id":18420,"date":"2024-11-06T17:30:08","date_gmt":"2024-11-06T17:30:08","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=18420"},"modified":"2024-11-06T17:30:08","modified_gmt":"2024-11-06T17:30:08","slug":"heres-when-the-ripple-xrp-price-can-say-goodbye-to-1-for-good-analyst","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=18420","title":{"rendered":"Here\u2019s When the Ripple (XRP) Price Can Say \u2018Goodbye\u2019 to $1 for Good (Analyst)"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

XRP lagged behind other assets despite a market rally tied to Trump\u2019s win. However, some analysts remain hopeful for a breakout if it clears key price levels.
\nRipple\u2019s CEO Brad Garlinghouse welcomed the Trump victory, calling for changes like replacing SEC Chair Gensler and clarifying Ethereum\u2019s regulatory status.<\/p>\n

<\/a><\/span><\/h2>\n

XRP is Late for the Party\u2026 Again<\/h2>\n

The cryptocurrency market has been on a tear in the past several hours, caused by Donald Trump\u2019s triumph in the US presidential elections. The Republican has presented himself as the right choice for those in favor of the asset class, promising to let <\/span>bitcoin<\/span> thrive and hinting at establishing a national BTC reserve.\u00a0<\/span><\/p>\n

Earlier today, the price of the primary cryptocurrency <\/span>tapped<\/a> a new<\/span> all-time high of over $75K, while currently, it trades at around $74,200 (<\/span>CoinGecko\u2019s<\/span> data).<\/span> Other top performers include Dogecoin (DOGE), Solana (SOL), Avalanche (AVAX), Sui (SUI), and Uniswap (UNI), all of which exploded by double digits.\u00a0<\/span><\/p>\n

Ripple\u2019s XRP is also in the green, albeit charting less substantial gains than most of its rivals. It currently trades at around $0.53, representing a mere 2.5% increase <\/span>on a weekly basis<\/span>. Those curious <\/span>to find out<\/span> why XRP might be trailing behind can check out our dedicated article <\/span>here<\/span><\/a>.<\/span><\/p>\n

<\/a>XRP Price, Source: CoinGecko<\/p>\n

Despite its underperformance (compared to the rest of the market), numerous analysts remain optimistic that the asset has yet to fly high. <\/span>According<\/span><\/a> to X user EGRAG CRYPTO, XRP\u2019s value has <\/span>been following<\/span> a so-called \u201cjust do it\u201d chart (resembling the logo of the apparel giant Nike) in the past years. The trader assumed that this trend could lead to a price appreciation of as high as $1.60 <\/span>in the future<\/span>.\u00a0<\/span><\/p>\n

Moreover, they suggested that \u201ca solid weekly close above $1.10 and confirm it as strong support\u201d could mean that XRP may never plunge below $1 again.\u00a0<\/span><\/p>\n

Other analysts chipping in <\/span>recently<\/span> include Dark Defender and Crypto Rand.<\/span> The former <\/span>believes<\/span><\/a> XRP could experience a bull run if its price exceeds the vital resistance levels of $0.5286, $0.6044, and $0.6649. Crypto Rand claimed the asset\u2019s condition as of late represents a \u201cdo or die momentum,\u201d setting $0.50 as <\/span>an important<\/span> support zone.\u00a0<\/span><\/p>\n

Ripple\u2019s CEO Congratulates Trump<\/span><\/h2>\n

Prominent individuals <\/span>part of<\/span> the crypto world congratulated the Republican <\/span>for<\/span> his victory.<\/span>\u00a0Among them was<\/span> Ripple\u2019s CEO<\/span> \u2013 <\/span>Brad Garlinghouse.<\/span>\u00a0<\/span><\/p>\n

He also <\/span>urged<\/span><\/a> Trump to focus on some important points during his first 100 days <\/span>after taking<\/span> the helm. The main tip <\/span>focuses on<\/span> the firing of the US <\/span>SEC\u2019s<\/span> Chairman Gary Gensler. <\/span>Recall<\/span> that the Republican <\/span>promised<\/span><\/a> to dismiss the agency\u2019s head on day one.<\/span><\/p>\n

Gensler and the regulator he spearheads have been at war with many crypto businesses, including Ripple. The lawsuit<\/a> between the company and the SEC has been among the hottest topics <\/span>in the space<\/span> for years.\u00a0<\/span><\/p>\n

It is safe to assume that the XRP army will expect Trump to stick to his promise<\/a> and replace Gensler with someone <\/span>who is<\/span> more open to innovation and less likely to hamper the industry\u2019s advancement with court battles.<\/span><\/p>\n

Another point mentioned by Garlinghouse concerns <\/span>the status of Ethereum (ETH).<\/span> Specifically, he asked Trump to classify the second-largest cryptocurrency as non-security (similar to BTC and XRP).\u00a0<\/span><\/p>\n

The post Here\u2019s When the Ripple (XRP) Price Can Say \u2018Goodbye\u2019 to $1 for Good (Analyst)<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR XRP lagged behind other assets despite a market rally tied to Trump\u2019s win. However, some analysts remain hopeful for a breakout if it clears key price levels. Ripple\u2019s CEO Brad Garlinghouse welcomed the Trump victory, calling for changes like replacing SEC Chair Gensler and clarifying Ethereum\u2019s regulatory status. XRP is Late for the Party\u2026 […]<\/p>\n","protected":false},"author":0,"featured_media":18421,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-18420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18420"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18420"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/18420\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/18421"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}