When Ripple (XRP) Might Bid Farewell to $1

TL;DR

• XRP has struggled to keep pace with market gains following Trump's election victory. Analysts remain optimistic about its potential breakout.
• Ripple's CEO, Brad Garlinghouse, has called for changes in the regulatory landscape, including the dismissal of SEC Chair Gensler.

XRP's Underwhelming Performance

Despite a significant rally in the cryptocurrency market spurred by Donald Trump's recent presidential win, Ripple's XRP has lagged behind its peers. While Bitcoin soared to a new all-time high, XRP only managed a modest increase, currently trading at approximately $0.53, reflecting a mere 2.5% gain over the past week.

Many analysts are hopeful that XRP may still experience substantial growth. According to EGRAG CRYPTO, a Twitter user, XRP has been following a bullish pattern, which could lead to a price of $1.60 in the future. A critical factor for this potential surge is achieving a solid weekly close above $1.10, which could establish it as a strong support level and prevent it from falling below $1 again.

Resistance Levels to Watch

Several analysts have provided insights into XRP's price movements. Dark Defender believes that XRP could initiate a bull run if it surpasses key resistance levels at $0.5286, $0.6044, and $0.6649. Meanwhile, Crypto Rand describes the current market conditions as a "do or die momentum," identifying $0.50 as a crucial support zone.

Ripple's CEO Welcomes Trump's Victory

Ripple's CEO, Brad Garlinghouse, congratulated Trump on his election win and urged him to focus on several important issues during his initial days in office. One of his primary recommendations was to replace SEC Chair Gary Gensler, who has been a contentious figure for many in the crypto industry, including Ripple.

The ongoing lawsuit between Ripple and the SEC has been a significant topic in the crypto space, and many in the XRP community are hopeful that Trump will follow through on his promise to reform the regulatory environment.

Additionally, Garlinghouse urged Trump to classify Ethereum as a non-security, similar to Bitcoin and XRP, which could further clarify the regulatory landscape for cryptocurrencies.