XRP’s price has skyrocketed in recent days, fueled by speculation of a favorable resolution to Ripple’s ongoing legal battle with the SEC following the resignation announcement of Gary Gensler, the SEC Chairman.
Ripple’s fight with the SEC over the classification of XRP as a security has weighed on the token’s price for years. Gensler’s exit could pave the way for a less aggressive regulatory stance, boosting investor confidence.
Trading at $1.40, XRP is up 23.79% in the last 24 hours, 72.31% over the week, and a staggering 164.60% over the past month. With its market cap surging from $29 billion to $79 billion in just 30 days, XRP’s rally has reignited conversations about its potential to breach the $2 mark.
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Crypto analysts weigh in on the $2 target
On-chain and technical analyst Ali Martinez captured the market’s sentiment with a bold claim:
“Gary Gensler leaving the SEC is the best thing that could happen to Ripple. Now, XRP targets $2!” Martinez’s bullish outlook reflects widespread optimism that Gensler’s departure could bring regulatory clarity, easing Ripple’s path to a legal resolution.
Adding to the enthusiasm, popular trader Credibull Crypto noted on November 22:
“On the USD pairing, XRP monthly RSI is about to enter overbought territory for the first time in three years. This is bullish af.”
He argued that high RSI levels—contrary to conventional bearish sentiment—signal strong momentum. His analysis places XRP’s next targets at $2 and beyond, potentially reaching new all-time highs (ATH).
On November 21, Credibull emphasized XRP’s dominance, stating:
“I think XRP is probably going to make new ATHs a lot quicker than most are expecting. I believe it will vastly outperform both BTC and ETH from current levels while doing so.”
The analyst’s assessment pointed to a 250% upside on the XRP/ETH pair, driven by a reclaimed and retested four-year range.
XRP technical indicators support the rally
XRP’s bullish trajectory is underpinned by strong technical signals. The token is trading well above its 200-day simple moving average, with 19 green days in the past 30, showcasing consistent upward momentum. Key support lies at $1.10, while resistance at $1.44 could determine the next breakout level.
The RSI on the monthly time frame signals that momentum is accelerating, reinforcing the bullish outlook among analysts. Market volume has also surged, reflecting heightened trader activity and confidence in XRP’s price trajectory.
Furthermore, Ripple’s efforts to expand the utility of XRP through partnerships and cross-border payment solutions add another layer of long-term growth potential. With institutional and retail investors rallying behind the token, XRP’s current surge reflects more than just speculative fervor—it signals a broader belief in its resilience and future value.
While the path to $2 may face resistance, if the rally continues unabated, analysts’ predictions of new all-time highs could come sooner than expected, putting XRP back in the spotlight as a leader in the cryptocurrency market.
