News of a significant XRP price breakout has renewed optimism in the cryptocurrency market, as Bitcoin's rally cools amidst rumors of SEC chair resignation.
Gensler Sticks to His Guns
The ongoing XRP price breakout suggests positive trader reaction to rumors of SEC chair Gary Gensler's resignation. Following the SEC vs. Ripple case ruling, XRP reached a 2024 high of $0.8478.
XRP Price Breakout Predicts Better Days
XRP held firm above the $0.620 level but quickly surged past $0.7000. On Thursday, XRP surpassed the $0.740 resistance, reaching an all-time high of $0.8989, with experts predicting a potential rise to $1.000.
Bitcoin Rally Cools but Market Still Hopeful
As XRP's breakthrough dominated the market, Bitcoin slid 4%, dropping from $93,000 to $88,000 following remarks by FED chair Jerome Powell. Analysts suggest Trump’s win may drive further crypto growth.
Rumors of the SEC chair's resignation might influence XRP's continued rise. With the SEC vs. Ripple case appeal expected, there’s potential for change in the regulatory landscape.
