XRP Army Rejoices Ripple’s 26% Daily Price Surge With Predictions of Up to $30 Per Coin
TL:DR;
- Current SEC Chair Gary Gensler’s decision to move away from the agency pushed XRP to new local peaks of well above $1.4.
- Ripple’s vocal community was quick to celebrate the development by outlining future price targets, some of which were quite outrageous, to say the least.
CryptoPotato reported Gensler’s announcement yesterday evening, in which the current SEC chair said he would step down from his position on the day Donald Trump will be inaugurated as the 47th president of the US – January 20, 2025.
Although that was somewhat expected, it sent XRP flying because of the lawsuits between the company behind the asset and the Commission Gensler runs.
At first, Ripple’s native token jumped by just 5% but kept climbing in the following hours and flew past $1.4 for the first time since May 2021. As such, XRP is now up by over 26% and is the best-performing larger-cap digital asset.
The community celebrated Gensler’s decision as he has been a considered a long-time enemy of the industry, given many of the questionable statements regarding the security status of many assets as well as controversial lawsuits.
The Ripple army also weighed in on the matter, especially on XRP’s surge. As usual, many started to provide quite promising price targets for the native token, including a surge to $5 and even to $30.
If #XRP closes the monthly candle around $2, it rose 288%, just like it did in March of 2017. If it continues the trend, it would close around $5 in December and $30 at the end of January 2025.
— CryptoBull (@CryptoBull2020) November 22, 2024
However, it must be said that such high price tags would make XRP one of the biggest assets in the world, not just crypto. $5 per token would send its market cap to $285 billion, while $30 would make it $1.7 trillion – or just shy of Bitcoin’s market cap. This would mean that XRP enters the top 10 largest assets by this metric, which sounds promising but quite far-fetched, at least for the moment.
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