3 Key XRP Price Targets Identified Following Gensler’s Exit

• A renowned crypto analyst has pointed out that XRP’s future trajectory could be determined by three key factors: the recent shift in the US political climate, its historical resilience, and a possible match of the current market caps of the leading assets. 
• This analyst’s position aligns with Alan Santana’s prediction that XRP could hit $6. 

XRP recently made a significant leap to a new monthly high of $1.6 from the $0.44 level following a broad market rally that saw Bitcoin (BTC) peaking at $99k. Meanwhile, the asset has since pulled back to $1.4 as it declined by 1.77% on its daily price chart at press time.

Subjecting the asset to a detailed analysis, a prominent market analyst identified as Rodney highlighted that the direction of XRP could be influenced by a massive shift in the US “political climate,” the resilient nature of the asset, and the potential match of the current market caps of Bitcoin and Ethereum (BTC).

Donald Trump is in. Gray Gensler is out. Here is my BULLISH $XRP price prediction. What’s yours? #RIPPLE #XRP pic.twitter.com/ZrG6y5L75z— Rodney (@cryptojourneyrs) November 24, 2024

The US Political Climate

Recently, CNF reported that the chairman of the US Securities and Exchange Commission (SEC) has officially announced that he will resign on January 20, 2025, following Donald Trump’s re-election to the presidency.

According to the agency’s press release, the Gensler-led administration received more than 145,000 tips, complaints, and referrals, 18% of which were related to crypto. Meanwhile, it filed over 2,700 enforcement actions within the period.

Recounting his experience with the Agency, Ripple CEO Brad Garlinghouse recently highlighted that his blockchain company has been consistently “dragged” for the past four years. Between 2020 and 2021, the price of XRP plunged by more than 50%, forcing multiple exchanges, including Coinbase, to delist the asset.

Having recognized this impact, Rodney believes that Gensler’s resignation could position XRP on an upward trajectory. He added that Trump’s advocacy of making digital assets an integral part of the US financial system could create a bullish environment around XRP.

Resilient Nature of XRP

Another key factor that could position XRP for further price growth is its resilient nature, according to Rodney. In his submission, the analyst highlighted that XRP managed to stay within the top ten cryptos list for years despite the severe regulatory pressure. He also disclosed that the asset has, through its tenacity, set a legal precedent for the broader crypto market with its partial victory against the SEC in June 2023.

XRP Could Match the Market Cap of Bitcoin and Ethereum

According to Rodney, XRP could hit $6.98 (4x) if it reaches the current market capitalization of Ethereum, which is around $400 billion. Also, if the asset manages to reach the $2 trillion market cap of Bitcoin, it could trade at $33 (24x). Conservatively, Rodney believes that achieving a $600 billion market cap in this cycle is realistic. This implies that the asset would be trading at $10. Meanwhile, institutional adoption and broader utility in cross-border payment were highlighted as the catalysts for this significant feat.

Alluding to this position, renowned analyst Alan Santana has also disclosed that the present bullish momentum is just the beginning of an expansive trend. As analyzed by CNF, Santana believes that XRP could target three key resistance points – $3.01, $5.15, and $6.41 before the cycle ends.