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XRP On Fire: Analyst Predicts $4 Milestone As Token Rallies 11%

XRP is gaining traction, with one well-known expert predicting an all-time high in the $4 region. XRP has joined the crypto market rally, recently reaching $0.5740, up 11% from yesterday’s price of $0.514.

Bitcoin’s record-breaking surge has provided a broader market boost, and XRP is capitalizing on this momentum to drive its price higher. For many investors, this is an encouraging indicator that the altcoin may ultimately recapture its upper price points.

However, market momentum is not the only factor at play here. Analyst CoinsKid, noted for his enormous following on social media site X, recently posted an analysis indicating that the XRP rise may have more potential to develop. Using a two-year weekly chart, CoinsKid found significant resistance and support levels, implying that it could break through to new highs.

Technical Points To Watch

CoinsKid’s chart shows three big XRP resistance points: $0.94, $1.50, and $2.50. These levels are critical because they have historically served as ceilings for XRP. For example, in July, the coin peaked at $0.94 before falling back, just after a court ruling declared the asset not a security. This was a major milestone, but the excitement faded when the price failed to remain above this level.

The analyst believes that XRP will break through these resistance points without needing to retest the lower support level of $0.3798. If the altcoin continues on its current track, it might eventually reach a top of about $4, according to CoinsKid. For investors, this may mean significant profit, particularly if the market maintains its present bullish tone.

Regulatory Hope Boosts Optimism

The legal environment in the US is another thing that is making people feel good about XRP. Recent reports have it that when President-elect Donald Trump takes office in January 2025, he will replace Gary Gensler as Chairman of the SEC.

Many in the crypto space are keeping a close interest on this theory, especially from XRP enthusiasts who feel that Gensler’s exit will speak well for a more positive perspective towards the altcoin and cryptos.

The Trump campaign to reorganize the SEC has added to this optimism. Many think that removal of Gensler would give XRP ample freedom to operate without many legal barriers. Such a shift in the regulatory landscape could well be one big win for XRP, taking the price up.

Future Price Predictions Look Bright

Looking forward, the price forecast for XRP also seems very promising. The analysts predict a 14% increase in the next three months, and its potential growth in six months is much higher, at 160%. A one-year prognosis would mean that the asset could get returns of over 100%. This makes the $4 goal not out of reach, given that Bitcoin has broken new grounds and the fundamentals of XRP are high.

Finally, a combination of technical resiliency, market momentum, and future regulatory reforms might propel XRP to previously uncharted territory. For XRP holders, this might be an exciting trip to what many believe would be a new all-time high.

Featured image from DALL-E, chart from TradingView

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SEC Shake-Up: Robinhood Legal Boss On Shortlist For Top Spot—Report

A major revamp is coming to the SEC.

For many reasons, this year’s US presidential elections have become the most consequential for cryptocurrency. Crypto and blockchain technology has become an election issue, with both the Republican and Democratic candidates teasing the electorate with their plans on how to handle crypto.

Between the two, incoming President Donald Trump offered a more friendly stance over crypto, promising to make the US a “crypto capital” and suggesting a change in leadership at the Securities and Exchange Commission (SEC).

Now that Trump is the next president, all eyes are on the SEC and the expected reshuffle. And the latest political chatter suggests that the high-profile job will probably go to Dan Gallagher, Robinhood’s Chief Legal Officer.

Many expect Trump to announce in January 2025 the next SEC chief, as the clamor for the agency’s Gary Gensler’s exit intensifies.

Gensler In Hot Seat Before Elections

Many expect Gensler to be one of the high-profile exits once Trump takes office. Gensler has waged legal fights against the crypto community for years, including Binance and Ripple’s XRP. His aggressive policies against crypto and its personalities have earned him plenty of detractors and enemies.

With Gensler’s increasing unpopularity, many have demanded his resignation. Trump acknowledged the issue and promised a revamp of the SEC once he wins. Even Ripple’s
Brad Garlinghouse has blamed Gensler for the Democrat’s loss this election. Now, Reuters reports that Robinhood’s Dan Gallagher is considered the top contender for Gensler’s post.

Robinhood’s Dan Gallagher As Next SEC Chair?

Dan Gallagher currently serves as Robinhood’s Chief Legal Officer. Gallagher was a SEC commissioner from 2011 to 2015 before joining the company. Also, Gallagher enjoys wide popularity among cryptocurrency bigwigs, especially among Trump donors. At least two sources have confirmed that the former SEC commissioner is in the running to become the next chair of the agency.

Although the selection process is still open, Gallagher’s pro-innovation policies give him an advantage over other hopefuls. He advocates for tighter regulation of cryptocurrencies and supports market liberalization.

Previously, Gallagher campaigned to treat digital assets like Bitcoin as a distinct asset class, not as securities. In short, the SEC can see a more crypto-friendly policy once Gallagher takes oath.

Other Candidates In Consideration

Aside from Gallagher, a few other names are floated as Gensler’s replacement. For example, some in the crypto industry are looking at Hester Pierce, who is a SEC Commissioner, to become the next SEC chair. However, some insiders have shared that Pierce isn’t keen on taking the job. Another candidate in the running is Mark Uyeda, who was appointed as SEC commissioner on June 30, 2022.

Multiple reports also mentioned Paul Atkins, former Republican SEC Commissioner, and Robert Stebbins – who was named SEC General Counsel in May 2017 — as possible Gensler replacement.

Featured image from CNBC, chart from TradingView