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<p>Ripple’s native token, XRP, has surged beyond $1.40, marking its highest value since May 2021. This dramatic rise, which saw XRP gain over 25% in the past 24 hours, coincides with significant market events, including SEC Chair Gary Gensler’s resignation announcement and growing optimism for Ripple’s ongoing legal battle.</p><p>Ripple’s Legal Battles Ease Amid Gensler&#39;s Resignation</p><p>The resignation of <a href="https://x.com/GaryGensler/status/1859658192298574096" rel="noopener noreferrer nofollow">Gary Gensler</a>, the controversial SEC Chair, has ignited speculation that Ripple’s prolonged legal dispute with the SEC may be nearing resolution. Gensler, a figure often criticized within the crypto community, will step down on January 20, 2025, aligning with President Donald Trump’s inauguration.</p><p>The lawsuit, which accused Ripple of raising $1.3 billion through unregistered securities sales, weighed heavily on XRP’s price and market sentiment. Gensler’s departure could pave the way for a more favorable regulatory landscape, with analysts speculating on a potential settlement or withdrawal of the SEC’s appeal.</p><h3 id="xrp-s-price-surge-technicals-and-market-sentiment">XRP’s Price Surge: Technicals and Market Sentiment</h3><p>XRP’s rally saw it break key resistance levels, with a massive 26% daily gain and a month-to-date increase of over 150%. The token is currently trading at $1.43, with bullish momentum pushing its market cap to $80 billion.</p><p>Technical analysis reveals that XRP has turned previous resistance into support, with the $1.50 level emerging as the next crucial barrier. Should XRP breach this, analysts project a path toward the $2 psychological mark, a level not seen in nearly three years.</p><p>Key indicators like the Relative Strength Index (RSI) suggest overbought conditions, signaling the possibility of minor consolidation before another upward move. However, strong trading volumes and a favorable moving average alignment—where the 50-day EMA outpaces the 100- and 200-day EMAs—support sustained bullish sentiment.</p><h3 id="community-optimism-and-bold-predictions">Community Optimism and Bold Predictions</h3><p>The <a href="https://www.coindesk.com/tag/xrp-army/" rel="noopener noreferrer nofollow">XRP Army</a>, Ripple’s loyal community, has celebrated the token’s resurgence, with some enthusiasts predicting price targets as high as $5 or even $30. While such levels would catapult XRP into the ranks of the world’s largest assets, these predictions hinge on continued market momentum and regulatory clarity.</p><h3 id="the-etf-factor-institutional-interest-in-xrp">The ETF Factor: Institutional Interest in XRP</h3><p>Ripple’s potential extends beyond legal victories. The prospect of <a href="https://blockworks.co/news/bitwise-files-for-spot-xrp-etf" rel="noopener noreferrer nofollow">spot XRP ETFs</a> from major players like 21Shares and Bitwise is fueling institutional interest. If approved, these ETFs could bring fresh capital into the market, further boosting XRP’s valuation.</p><h3 id="the-road-ahead-2-xrp-and-beyond">The Road Ahead: $2 XRP and Beyond?</h3><p>As <a href="https://icogemhunters.com/is-xrp-about-to-explode-experts-predict-huge-gains-amid-altcoin-season/" rel="noopener noreferrer nofollow">XRP</a> continues its impressive recovery, the focus shifts to breaking the $1.50 resistance and sustaining its upward trajectory. Analysts believe a rally toward $2 is highly plausible, contingent on maintaining buyer interest and regulatory clarity.</p><p>With Gary Gensler’s exit on the horizon and a potential shift in U.S. crypto policy under a new administration, Ripple’s future looks increasingly bright. For now, XRP’s journey toward $2 and beyond has the crypto world buzzing with anticipation.</p><p><strong>Disclaimer:</strong> This article is intended for informational purposes only and should not be construed as legal, tax, investment, financial, or any other form of advice.</p><p><em>Source: </em><a href="https://icogemhunters.com/ripple-victory-xrp-breaks-1-40-as-sec-chair-steps-down/" rel="noopener noreferrer nofollow">ICO Gem Hunters</a></p>

Ripple Victory? XRP Breaks $1.40 as SEC Chair Steps Down!

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