The price of XRP has skyrocketed in recent days, fueled by rumors of a favorable resolution to Ripple’s ongoing litigation with the SEC following the announcement of the resignation of Gary Gensler, the SEC’s chairman.
Ripple’s battle with the SEC over XRP’s classification as a security has put pressure on the token’s price for years. Gensler’s departure could pave the way for a less aggressive regulatory stance, boosting investor confidence.
Cryptanalysts estimate the target at $2
On-chain technical analyst Ali Martinez reflected the market sentiment with a bold statement:
“Gary Gensler leaving the SEC is the best thing that could have happened to Ripple. Now XRP is targeting $2!” Martinez’s optimistic outlook reflects widespread optimism that Gensler’s departure could bring regulatory clarity, easing Ripple’s path to a legal settlement.
He argued that high RSI levels – contrary to traditional bearish sentiment – signal strong momentum. His analysis puts XRP’s next targets at $2 and above, potentially reaching new all-time highs (ATH).
On November 21, Credibull highlighted XRP’s dominance by stating:
“I think XRP will likely create new ATHs much faster than many expect. In doing so, I believe it will significantly outperform both BTC and ETH from current levels.”
The analyst’s estimate points to 250% upside potential for XRP/ETH, driven by a restored and retested four-year range.
XRP technical indicators support rally
XRP’s bullish trajectory is supported by strong technical signals. The token is trading well above its 200-day simple moving average, with 19 days in the green over the past 30 days, showing sustained upward momentum. Key support lies at $1.10, while resistance at $1.44 could determine the next breakout level.
The RSI on the monthly chart signals that momentum is accelerating, adding to the bullish outlook among analysts. Market volume also increased, reflecting increased trading activity and confidence in the XRP price trajectory.
Additionally, Ripple’s efforts to expand the utility of XRP through partnerships and cross-border payment solutions add another layer of long-term growth potential. As institutional and retail investors have rallied around the token, XRP’s current rise reflects more than just speculative enthusiasm—it signals a broader belief in its sustainability and future value.
While the path to $2 could face resistance if the rally continues, 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.
