Will XRP Price Pump If Trump Fires Gensler

The recent Trump victory may have more in store for Ripple as multiple crypto commentators, high-profile figures, and a good portion of the crypto community

XRP price increased by 2.8% in the last hour following a market wide surge as Bitcoin price hit a new all-time high at $76,000. XRP price stood at $0.5515 with a 6% gain over the last week.

Related Reading: XRP Price Analysis: XRP Bulls Defend Crucial Support At $0.53

BitBoy Anticipates XRP Might Pump If Trump Fires Gensler

The recent Trump victory had more in store for Ripple, as several crypto commentators, high-profile figures, and a large portion of the crypto community urged President Trump to oust Gary Gensler.

Among them, popular crypto YouTuber and commentator Ben ‘BitBoy’ Armstrong said that XRP might be among the top 100 coins that pump the hardest. In an earlier interview, BitBoy said that all meme coin money will flow into XRP in the next cycle, suggesting that XRP is the best asset.

Moreover, on November 6, Ripple CEO congratulated Trump on his win via the X platform and proposed the idea to “Fire Gensler. Day 1, No Delays.” He further proposed Christopher Giancarlo, Daniel Gallagher, or Brian Brooks as a replacement for Gensler.

.@realDonaldTrump, Congratulations!

Some fodder for your first 100-day checklist to get things moving:– Fire Gensler. Day 1, no delays.– In his place, appoint Giancarlo, Brooks, or Gallagher – they’d be massive upgrades in rebuilding the rule of law (and reputation) at the…

— Brad Garlinghouse (@bgarlinghouse) November 6, 2024

However, speculations suggest that SEC’s Mark Uyeda is more likely to replace Gary Gensler over the earlier speculated Hester ‘Crypto Mom’ Peirce, a commissioner in the SEC appointed there by President Trump in 2018.

XRP Price Analysis: Key Levels To Watch Out For

XRP price rallied to $0.5739, reaching its highest in 30 days, as Bitcoin price soared to a new high above $76,400 following Trump’s election victory, boosting the overall crypto market sentiment.

After failing to sustain above the $0.55 resistance level, XRP price retraced to its current price. Nevertheless, the Average Directional Index (ADX) is at 29.61, suggesting that volatility is still increasing. The Relative Strength Index (RSI) is at 65.72, nearing the overbought region but still having room to move, which could provide the boost needed to propel XRP above the resistance level.

On the other hand, a 4-hour candlestick close below the $0.533 support level could invalidate the bullish continuation pattern and lead to further losses. In such a case, XRP price might drop to the next support level at $0.516.

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