The XRP price has risen significantly, exceeding the $0.80 mark amidst strong bullish dynamics. This increase coincides with news of the resignation of SEC Chairman Gary Gensler.
XRP Price Surges and Current Dynamics
Over the past 48 hours, Ripple has shown a ~28% increase, surpassing $0.80 for the first time since July 2023. Trading activity has also escalated, reaching a volume of $12.623 billion. Meanwhile, the Relative Strength Index indicates a sustained bullish trend, supported by a 'Golden Cross' formation on the chart.
Prospects of Hitting $1
The ongoing high buyer activity could lead to testing the $0.90 mark soon. If the bullish sentiment strengthens, the likelihood of reaching $1 increases significantly. However, in the event of a bearish reversal, the price could fall to $0.80 or $0.7450.
FAQs on XRP's Future
Gary Gensler's resignation is currently speculative. Sustained bullish sentiment may push Ripple to the $2 mark in the long term, but for now, expectations focus on reaching $1.
Recent developments show a significant rise in XRP amidst market speculations and changes in SEC leadership. Future dynamics will depend on the token's ability to maintain its current bullish trajectory.
