It is stated that Gary Gensler's departure is a matter of time and this development is pushing XRP Coin up. The lawsuits filed by 18 states against the SEC are another factor contributing to the rise of XRP. Currently, XRP is approaching $ 0.937 levels, while profit sales can be seen.$XRP
During the difficult period from March to the end of October, altcoins suffered losses that could not be compensated by BTC price rallies, and investors became more cautious. However, the current market mood is different. Donald Trump promised major changes in the crypto market for investors who remained patient at Bitcoin's $89,384 levels. Trump's election victory brought significant hopes for the crypto world. Now, it is wondered who will be appointed as the SEC chairman. Gensler's position is about to change. Although the Fed Chair will continue in his position, the SEC leader will change, and this change contributes to the rise of XRP.
Gensler’s statement that he is happy with his role at the SEC and the lawsuit filed by 18 states are other factors that support the price of XRP. Trump’s promises of a crypto-friendly presidency strengthen the possibility of an end to the lawsuits that have been going on for years. These developments could have a positive effect not only for XRP but also for other altcoins that are marked as securities by the SEC.
While the BTC price is falling due to expectations that the Fed will stop interest rate cuts, investors are turning to altcoins to make a profit even during downturns. One of the altcoins that has risen during this period is XRP. XRP, which has a remarkable story and strong momentum in the crypto world, continues its rise.
Over the last 10 days, the XRP Coin price has increased by 80%. This is quite an impressive performance. XRP is targeting the parallel channel resistance that we have mentioned in previous analysis. As we approach this level, the probability of profit taking at $0.937 increases. Investors can use XRP approaching this level to take profits.
However, a possible statement regarding Gensler’s departure could reverse the upward trend of XRP and give new momentum to the markets. The departure of the SEC Chairman could be a historic turning point in the cryptocurrency market. The US elections and the changing attitude of the SEC will have a great impact on the crypto world, changing the perspective on XRP and other cryptocurrencies. This is a turning point that could be the subject of documentaries and movies.
If there is a pullback in XRP price, the $0.75-$0.73 levels could act as strong support areas. A recovery is possible at these levels. XRP’s rise may continue in the short term, but the technical picture also suggests that this rise may soon take a pause.
As a result, the current rise of XRP is further strengthened by the SEC chairmanship change and Trump’s crypto-friendly promises. As interest in the altcoin market increases during this process, XRP is expected to continue to be one of the most notable coins during this period.
