Gary Gensler Is he resigning on November 18? XRP price rally above $1
It's been quite a few days in the crypto world, and XRP is finally back above $1 per coin! It's a milestone after what feels like forever, and the market is buzzing. Currently, XRP continues to rise, the price reaches $ 1.07 on the hourly chart. XRP's all-time high was around $3.30, and there is potential for it to go higher, perhaps significantly.
The $1 price point is a milestone. XRP has been hovering around the 75-cent range for the past two years, but recently, following the 95-cent to $1 range, the price has rallied. With XRP price action now above $1, the next focus will be on whether it can sustain these levels and push to new highs.
Possible motivations behind XRP's rise:
XRP's recent rise above the $1 mark coincided with a burst of news that has the crypto world buzzing. Ripple CEO Brad Garlinghouse's meeting with President-elect Donald Trump has raised eyebrows, especially as speculation mounts about the future of SEC Chairman Gary Gensler.
Reports are spreading, Gensler, the ongoing Ripple vs. A key person in the SEC case, as early as November 18. His potential resignation may have significant implications for the case, which has been closely monitored by the crypto industry.
A new SEC chair, especially one with a more favorable stance toward cryptocurrency, could change the regulatory landscape for digital assets like XRP.
Also read: ‘Gary Gensler isn't suing anyone': Legal expert slams 18 state lawsuits against SEC as ‘frivolous'
Summary:
The $1 level has been seen as a key psychological barrier for the asset, and its recent breakout could pave the way for further gains in the coming weeks. XRP enthusiasts and traders are now looking for continued positive movement, many believe that this could be the beginning of a much bigger rally.
