Chair

Gary

PEPE

<ul class="wp-block-list"> 
 <li>XRP’s price has surged by over 32%, reaching a 3.6-year high of $1.43, a level last seen in May 2021.</li> 
 <li>The rally comes after SEC Chair Gary Gensler confirmed he will step down on January 20, 2025.</li> 
 <li>Asset Manager WisdomTree launches Physical XRP ETP in Europe.</li> 
</ul> 
XRP has surged to its highest level in 3.6 years, crossing $1.43, following SEC Chair Gary Gensler’s <a href="https://thenewscrypto.com/gary-gensler-to-resign-as-us-sec-chair-in-january-2025/" target="_blank" rel="noreferrer noopener">confirmation</a> that he will step down in January 2025. The news sent XRP’s price soaring over 32% in just 24 hours, climbing from $1.10 to an intraday peak of $1.43—a level not seen since May 19, 2021. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img loading="lazy" decoding="async" width="1024" height="379" src="https://thenewscrypto.com/wp-content/uploads/2024/11/image-186-1024x379.png" alt="" class="wp-image-115298" srcset="https://thenewscrypto.com/wp-content/uploads/2024/11/image-186-1024x379.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-186-300x111.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-186-768x284.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-186.png 1420w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Ripple’s XRP Price Chart (Source: <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noreferrer noopener nofollow">CMC</a>)
 </figcaption>
 </figure>
</div> 
At the time of writing, XRP was priced at $1.40 with a market cap of $79.89 billion. Additionally, the daily trading volumes soared over 141% to $16.38 billion in the last 24 hours. Most of XRP’s daily gains come within ten hours of <a href="https://x.com/GaryGensler/status/1859658192298574096" target="_blank" rel="noreferrer noopener nofollow">Gensler’s exit</a> confirmation, signaling investors’ positive reaction.&nbsp; 
The crypto market was excited as investors interpreted Gensler’s exit as a sign of a potential shift toward crypto-friendly regulations in the U.S. Ripple, which has faced SEC scrutiny since 2020, gained renewed momentum after the expectation of resolving its long-run legal battle earlier next year.&nbsp; 
This expectation has further solidified the altcoin’s position, with the token rallying 73% in the past week and 160% over the month. 
Further, the launch of WisdomTree’s Physical XRP ETP in Europe added to the bullish momentum. This development propelled XRP’s open interest to hit an all-time high of $2.17 billion. 
<h3 class="wp-block-heading" id="h-xrp-signals-continued-bullish-trend">XRP Signals Continued Bullish Trend</h3> 
On the technical front, XRP has formed a bullish symmetrical triangle on the four-hour chart, <a href="https://thenewscrypto.com/ripple-xrp-price-prediction/" target="_blank" rel="noreferrer noopener">signaling a possible breakout</a>. Despite an extremely overbought RSI of 79, historical patterns suggest the bullish momentum could sustain further gains. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img loading="lazy" decoding="async" width="1024" height="488" src="https://thenewscrypto.com/wp-content/uploads/2024/11/image-187-1024x488.png" alt="" class="wp-image-115299" srcset="https://thenewscrypto.com/wp-content/uploads/2024/11/image-187-1024x488.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-187-300x143.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-187-768x366.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/11/image-187.png 1300w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Ripple (XRP) Price Chart (Source: <a href="https://in.tradingview.com/symbols/XRPUSDT/?exchange=BINANCE" target="_blank" rel="noreferrer noopener nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div> 
Additionally, the price remains well above the 200 EMA, suggesting a potential continuation of the upward rally. Further, key levels in the Ichimoku Cloud indicator signal a strong bullish trend, with XRP’s price ($1.39) being significantly higher than the conversion line ($1.05) and the base line ($0.9625). 
If XRP breaks above $1.43, it could face an immediate surge toward $1.65 in the short term, potentially setting new targets at $1.90 or even $2 in the days ahead. On the downside, the altcoin may drop to $1.31 or $1.26.&nbsp; 
Moreover, the flagship cryptocurrency Bitcoin (BTC) has been driving the crypto market higher as it approaches the $100K zone, shifting market sentiment from consolidation to an uptrend. 
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What’s Behind XRP’s 30% Surge to a 3.6-Year High?

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