CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
NewsBTC 2024-11-22 15:30:51

XRP Price Outlook Brightens: Expert Predicts $2 Target Post-Gensler Era

On Thursday, the XRP price soared to $1.41, marking its highest trading value in over three years. This surge coincides with a shifting regulatory landscape in the United States, spurred by the anticipated administration of President-elect Donald Trump. During his campaign, Trump pledged to position America as the “crypto capital of the world,” a promise that is beginning to resonate with market participants even before his inauguration on January 20, 2025. Gensler Sets Last Day At SEC For January 20 In recent weeks, the cryptocurrency market has seen a notable uptrend, with Bitcoin leading the charge and achieving consecutive all-time highs. This momentum is in part a response to the positive sentiment surrounding Trump’s pro-crypto promises, which is expected to facilitate a more favorable environment for digital assets. Related Reading: FTX Provides Details On $16 Billion Distribution Timeline For Customers And Creditors Central to this optimism is the expected departure of Gary Gensler, the current chair of the US Securities and Exchange Commission (SEC). Gensler has been criticized for fostering an unclear regulatory environment that many argue has stifled the growth of cryptocurrencies in the US. For XRP and Ripple Labs, this scrutiny has been particularly pronounced over the past four years under the Biden administration. Trump previously vowed to remove Gensler from his position, a move that many in the crypto community view as a necessary step toward clearer regulations. Yet, on the same day as Trump’s anticipated inauguration, Gensler confirmed that January 20, 2025, will be his last day at the SEC. His resignation preempts what many experts speculated could be a contentious conflict if he remained in office while Trump sought to replace him. XRP Price Surges Nearly 30% In 24 Hours This shift in the regulatory landscape in the US has contributed to a clearer outlook for digital assets, as reflected in XRP price movements. In the past 24 hours alone, XRP recorded gains of nearly 30%, and over the past week, it has increased more than 70%. Crypto analyst Ali Martinez recently shared his views on X (formerly Twitter), stating that Gensler’s exit could be highly beneficial for both Ripple Labs and the XRP price, which he believes is now targeting $2. Related Reading: Ethereum Sees Neutral Netflow On Binance: What Does This Signal? Another analyst, CrediBull, echoed this sentiment, noting that XRP’s monthly Relative Strength Index (RSI) is approaching overbought territory for the first time in three years. The analyst emphasized that a higher RSI typically indicates stronger momentum and bullish prospects for the asset, absent any bearish divergences. CrediBull suggested that the next significant target for XRP is $2, with aspirations for new all-time highs thereafter. Currently, the token’s all-time high stands at $3,040, which was reached nearly seven years ago in January 2018. This means that the XRP price could be in for a massive 150% uptrend in the coming months. Featured image from DALL-E, chart from TradingView.com

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta