XRP Climbs Above $0.80 with SEC Speculation in Focus. In the wake of Donald Trump's electoral triumph, the cryptocurrency market has witnessed commendable growth. Ripple's XRP, in particular, has emerged as a standout player within the top 20 assets, despite a recent pullback. XRP's price experienced a notable rise, reaching $0.83 before settling near $0.80—a daily gain of 14%.
The primary catalyst driving XRP's recent surge appears to be the widespread speculation surrounding Gary Gensler's tenure as Chairman of the US SEC. Gensler's leadership has been marked by numerous lawsuits against crypto enterprises, prompting anticipation of a shift in SEC's regulatory stance under new leadership.
The promise by Trump to dismiss Gensler has further fueled these expectations. Market analysts suggest further substantial gains for XRP.
Notably, Mikybull Crypto observed a breakout from a lengthy downtrend, predicting an imminent "massive rally." Similarly, strategist Javon Marks forecasts a notable increase to $3.30, referencing XRP's historical performance. Cryptoinsightuk also remains optimistic, suggesting XRP could emulate DOGE's previous successes and potentially rise above $1.
However, caution may be warranted. Despite the optimism, the XRP Relative Strength Index (RSI) indicates a possible market correction.
As a tool measuring price momentum, RSI values above 70 suggest an asset might be overbought. Presently, XRP's RSI stands around 71, hinting at a short-term decline. Traditionally, an RSI below 30 is considered an attractive buying opportunity.
The original article appeared on CryptoPotato under the title "Top Ripple Price Predictions: ‘Massive Rally’ Incoming as XRP Taps $0.8?"