{"id":23560,"date":"2024-11-26T10:30:24","date_gmt":"2024-11-26T10:30:24","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=23560"},"modified":"2024-11-26T10:30:24","modified_gmt":"2024-11-26T10:30:24","slug":"how-high-can-xrp-price-realistically-go-after-genslers-resignation","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=23560","title":{"rendered":"How High Can XRP Price Realistically Go After Gensler\u2019s Resignation?"},"content":{"rendered":"

The resignation of Gary Gensler as the Chair of the US Securities and Exchange Commission (SEC), effective January 20th -the same day President-elect Donald Trump is set to be inaugurated \u2013 is set to be a monumental day for the XRP community. In his latest video, crypto analyst Rodney (@cryptojourneyrs) shared<\/a> an analysis of the price potential in the post-Gensler era.<\/p>\n

At the time of his analysis, XRP was trading at $1.43, reflecting a remarkable 172% increase<\/a> over the past month. The market capitalization had soared to $81 billion, accompanied by $22 billion in daily trading volume. \u201cXRP is starting to return to its normal spot in crypto, being one of the dominant altcoins,\u201d Rodney remarked.<\/p>\n

Why XRP Is Poised To Surge Higher<\/h2>\n

In his video, Rodney suggests that Trump\u2019s promise to fire Gensler on his first day in office may have influenced Gensler\u2019s decision to resign<\/a> preemptively. \u201cGary Gensler is going to be stepping down from his role as the chair of the SEC January 20th, the same day Trump is going to be inaugurated,\u201d Rodney stated. \u201cTrump promised to fire Gary Gensler on day one, so I think Gary Gensler wanted to go out on his shield and resign on his own.\u201d<\/p>\n

Reflecting on the SEC\u2019s lawsuit against Ripple, Rodney noted the significant impact it had on the price and market perception. \u201cWhen the SEC sued Ripple, [XRP] price dipped 50%. This was one of many lawsuits that the SEC and Gary Gensler filed against many different crypto projects. It seemed like they were trying to regulate the space out of existence,\u201d Rodney stated.<\/p>\n

He pointed out that despite the legal challenges, XRP remained a top cryptocurrency. \u201cEven through all the BS, XRP has still been a top crypto and it really hasn\u2019t fallen out of the top 10 in many years,\u201d he said.<\/p>\n

Rodney also discussed Ripple\u2019s partial victory against the SEC<\/a> in July 2023, which set a significant precedent in the crypto industry. However, he expressed surprise that the price did not react more positively at the time.
\n\u201cWhen we heard about that news of them partially beating the SEC, XRP started to pump to around $0.67 but then promptly dipped down to about $0.50 and didn\u2019t really do anything,\u201d he observed. \u201cIt wasn\u2019t moving with the cryptocurrency market at all\u2026 It was a running joke that it was kind of our favorite stablecoin.\u201d<\/p>\n

Turning to the political landscape, Rodney explained: \u201cDonald Trump actually ended up destroying Kamala Harris and is going to be the next president of the United States,\u201d he stated. He emphasized Trump\u2019s pro-crypto stance, noting that he was \u201cmuch more open about supporting crypto\u201d and was \u201cthe first president to purchase anything with cryptocurrency.\u201d<\/p>\n

Rodney highlighted the involvement of various crypto projects in political campaigns, mentioning that \u201cmany cryptocurrency products were funding both candidates\u2019 campaigns behind the scenes.\u201d<\/p>\n

With the political shift, Rodney expressed optimism about the future integration of cryptocurrency into government systems. \u201cNow more than ever, it seems like cryptocurrency is going to be involved with our government, and in my opinion, XRP is going to be up there with the top projects,\u201d he asserted.<\/p>\n

He elaborated on XRP\u2019s core objectives, stating, \u201cWhat is XRP trying to do? They want to be used for international money transfers [\u2026] They want to enable fast and low-cost international money transfers and currency exchanges.\u201d He suggested that with supportive figures in government, XRP could realize this potential.<\/p>\n

How High Can XRP Price Go?<\/h2>\n

Rodney also delved into his price predictions for XRP, considering various market capitalization scenarios.
\nIf XRP were to achieve Ethereum\u2019s market cap of approximately $400 billion, it would result in a 4.9x increase from its current price, bringing XRP to around $6.98. \u201cSay, for example, XRP becomes a part of our government and we actually use it for its real utility. Everyone uses it, and it magically got the same market cap size of Ethereum,\u201d he speculated.<\/p>\n

Imagining XRP reaching Bitcoin\u2019s market cap of about $2 trillion, he calculated a 24x increase, which would place XRP at approximately $33. \u201cLet\u2019s fantasize a little crazier [\u2026] Say we gave it Bitcoin\u2019s market cap size that\u2019s currently sitting around $2 trillion,\u201d he mused.<\/p>\n

He considered a $10 XRP, corresponding to a $600 billion market cap, as a reasonable possibility. \u201cI think that a $10 XRP or an XRP with a $600 billion market cap size is reasonable,\u201d he concluded.<\/p>\n

However, Rodney acknowledged the challenges inherent in these predictions, noting that \u201cit would be tough for any cryptocurrency project to hit those market cap sizes because Bitcoin\u2019s dominating the entire market right now.\u201d<\/p>\n

At press time, XRP traded at $1.40.<\/p>","protected":false},"excerpt":{"rendered":"

The resignation of Gary Gensler as the Chair of the US Securities and Exchange Commission (SEC), effective January 20th -the same day President-elect Donald Trump is set to be inaugurated \u2013 is set to be a monumental day for the XRP community. In his latest video, crypto analyst Rodney (@cryptojourneyrs) shared an analysis of the […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-23560","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/23560"}],"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=23560"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/23560\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}