Ripple (XRP) price broke above the $1.60 mark earlier today, and the price could still have much more to offer as things get more bullish. Multiple events are pointing to the possibility of a continued rally for the Ripple token. This was noted in a series of tweets by XRP Meesku, a crypto analyst.
According to XRP Meeskul, XRP and various altcoins such as Cardano and Dogecoin are experiencing heightened trading volumes, with XRP notably outperforming Solana in the long-short liquidation balance. This trend has captured significant interest within the crypto community.
4 Bullish Triggers for XRP Continued Rally
Various factors are adding to this price rise, and these could help the price to continue going up.
Gary Gensler Announced Resignation
A key factor contributing to this bullish sentiment is the anticipated resignation of SEC Chair Gary Gensler. Many believe his departure could favorably impact Ripple’s ongoing legal battle, potentially leading the SEC to abandon its appeal in the Ripple case.
Such a development might trigger a substantial price surge for XRP. Additionally, there is growing speculation regarding how the political landscape, particularly Donald Trump’s presidency, might affect crypto regulations.
The crypto community is buzzing with the news of SEC Chair Gary Gensler's resignation, speculated to impact #Ripple's legal battle positively. There's discussion about the lawsuit potentially ending in 2025 and what Ripple might do next legally.
(3/15) pic.twitter.com/UfXTSMZFzX
— XRP Meesku❤️ (@Mel_Senechal) November 22, 2024End of Ripple vs. SEC Lawsuit in 2025
There are discussions surrounding the possibility of the Ripple lawsuit concluding in 2025, with expectations of settlements or resolutions emerging as Gensler exits. This evolving legal environment could signal a positive turn for Ripple’s case against the SEC.
The prevailing sentiment within the community is overwhelmingly bullish, especially as XRP price rallies in response to regulatory optimism and shifting market dynamics.
Analysts are also excited about XRP’s potential to surpass Binance Coin (BNB) in market capitalization, especially as it approaches a crucial golden cross against Bitcoin.
XRP ETPs Are Going Live
Furthermore, new XRP exchange-traded products (ETPs) have been launched on three major European exchanges, enhancing market accessibility.
WisdomTree has introduced a physically-backed XRP ETP, providing regulated access for investors and strengthening its digital asset portfolio.
Read Also: Will Cardano (ADA) Price Hit $10 Before the End of 2025? A Survey
Large Holders Involvement
As large holders, or “whales,” engage in significant transactions involving millions of dollars worth of XRP, confidence in its future value appears robust.
Influential figures in the crypto space, such as John Deaton, are making bold predictions about substantial market cap growth for XRP, especially in light of recent comments from Ripple’s legal chief asserting that XRP is not a security.
XRP Price Prediction
XRP Meesku also gave price predictions for XRP. According to the analyst, short-term forecasts suggest XRP could target $2, while mid-term estimates project a rise to $5.95, driven by emerging bullish patterns.
Long-term models even suggest the possibility of XRP reaching a $100 billion market cap, with some analysts eyeing a $10 price point in the near future.
