Ripple (XRP) Price Predictions Following US Presidential Elections

TL;DR

• Ripple's XRP has gained 6% in daily trading as analysts predict a possible rally to $0.65 if it surpasses key resistance levels.
• With Trump’s promise to remove SEC Chair Gary Gensler, some believe this could enhance XRP's performance during his presidency.

XRP Attempts to Rebound

Following the recent US presidential election results, Ripple's XRP has shown signs of recovery, marking a 6% increase in price. As of November 7, XRP briefly reached nearly $0.57 and is currently trading around $0.55, reflecting a 7.5% rise over the past week.

Market observers are optimistic about XRP's potential for further gains. Analyst CRYPTOWZRD noted that XRP closed with a strong bullish sentiment on November 6, suggesting that breaking through the $0.55 resistance could lead to a price surge towards $0.65.

Impact of SEC Leadership Changes

The possibility of Trump dismissing SEC Chair Gary Gensler has sparked speculation about XRP's future. Gensler has been involved in a legal battle with Ripple since 2020, questioning whether XRP sales constituted unregistered securities offerings. Analysts believe that a change in leadership could restore confidence in XRP.

Ben Armstrong, known as "BitBoy," echoed this sentiment, predicting that the removal of Gensler could position XRP as one of the best-performing cryptocurrencies in the top 100 during Trump’s presidency.

Positive Outlook from Industry Experts

Other industry figures, including Brett and EGRAG CRYPTO, are optimistic about XRP's future. Brett believes the crypto market has entered an exciting phase, which could lead to significant price increases for XRP. EGRAG CRYPTO suggests that XRP's price trajectory resembles a pattern that could push it to $1.60 in the future.

They also indicated that a solid weekly close above $1.10 could establish strong support, potentially preventing XRP from dropping below $1 again.