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Ripple CEO Hints at Gary Gensler’s Last Days in SEC, as Saylor Calls It a Win for Crypto

Lele Jima
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Ripple CEO Hints at Gary Gensler’s Last Days in SEC, as Saylor Calls It a Win for Crypto

Crypto executives, including Ripple CEO Brad Garlinghouse and MicroStrategy Chairman Michael Saylor, react to Gary Gensler’s potential exit from the U.S. SEC. 

In a startling development, SEC Chairman Gary Gensler released a statement yesterday hinting at his potential departure from the commission. However, he failed to definitively confirm this.

Gensler Hints at Leaving the SEC 

In his remarks, Gensler emphasized the need to update the ‘rules of the road’ across treasury and equity markets, as well as disclosure and corporate governance. 

Gensler also commented on his efforts in the crypto sector, noting that he inherited 80 enforcement actions, including the Ripple lawsuit, from the previous administration led by Jay Clayton. He maintained that most cryptocurrencies have no use case other than speculative trading and potential use for illicit activities. 

The aspect of his remark that caught the attention of the broader crypto community was the hint that he could be leaving the SEC. 

He expressed this view at the end of his speech, conveying a sense of accomplishment in elevating the U.S. capital market with other ‘remarkable SEC staff.’ 

The statement, which seemed like a farewell message, has triggered speculation that Gensler could be planning to leave the SEC before Trump’s inauguration, slated for January 20. Recall that Trump promised to fire Gensler on the first day of his administration. 

Ripple CEO and MicroStrategy Chairman React 

As expected, Gensler’s potential exit elicited positive reactions within the crypto community. Ripple CEO Garlinghouse and MicroStrategy Executive Chairman Michael Saylor commented on how Gensler’s exit might impact the crypto industry. 

In an X post yesterday, the Ripple CEO indicated that Gensler may soon leave the commission, emphasizing that the SEC boss is in his “last days in office.” Celebrating Gensler’s potential exit, Garlinghouse wore a T-Shirt with the caption ‘F**k The SEC’ to Cantor’s Annual Crypto Conference.

Furthermore, Garlinghouse suggested that the United States is close to becoming the crypto capital of the world under Trump’s administration. 

This suggests that Garlinghouse expects Trump to appoint a pro-crypto SEC chairperson, unlike Gensler, whom he criticized for waging a war against the industry. 

Meanwhile, Saylor characterized Gensler’s departure from the SEC as incredibly bullish for the broader digital asset industry during his latest interview on CNBC. 

He said Gensler’s exit would pave the way for a digital asset framework and pro-Bitcoin policies. He also suggested that the exit would end the SEC’s war against crypto. 

XRP Explodes Amid Gensler Exit Rumors 

Under Gensler’s leadership, the SEC has been aggressive toward crypto, introducing several enforcement actions and labeling most tokens as securities. 

Given Gensler’s hostile approach against the industry, investors and other stakeholders consider his potential exit from the SEC as a major win for crypto. 

Specifically, XRP enthusiasts speculate that his exit could lead to a settlement of the SEC v. Ripple lawsuit. Recall that the SEC appealed the Ripple ruling last month. The appeal could extend the lawsuit’s resolution to 2026. 

However, with Gensler signaling plans to leave the SEC and the upcoming inauguration of a pro-crypto cabinet led by Trump, the commission might settle the longstanding lawsuit before the expected 2026 resolution date. 

This speculation led to a dramatic surge in the price of XRP, with the asset hitting a 16-month high of $0.8452 yesterday. At press time, XRP trades at $0.7978, up 15.55% in the past day, 44.75% in the past week, and 47.89% over the last 30 days. 

Hedera (HBAR) Reversal Run Eyes $0.10 with $0.069 Breakout

Albert Brown
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Hedera (HBAR) Reversal Run Eyes $0.10 with $0.069 Breakout

As the 60% uptrend in Hedera (HBAR) crosses the 200-day EMA, the bulls challenge the $0.069 neckline for an extended rally to $0.10.

Despite Bitcoin’s pullback near the $88,200 mark, Hedera continues its bullish trend. In the past 24 hours, it has increased by nearly 14% and is currently trading at $0.068. 

As its market cap crosses the $2.5 billion barrier, the altcoin shows promising upside potential. Will this bull run reach the $0.10 psychological mark? Let’s find out.

HBAR Price Analysis

HBAR’s price action has marked the end of a pullback phase, with a V-shaped reversal from the $0.04159 low. The bullish trend gained momentum with a Morning Star pattern on November 5, followed by a 10.92% surge. As of now, HBAR is trading at $0.068.

HBAR price chart
HBAR price chart

The reversal rally has broken through a long-standing resistance trend line, signaling a shift in market character. From its low of $0.041, HBAR has seen a nearly 64% surge.

The altcoin has also made an intraday gain of 5.07% and is now challenging the key resistance at the 38.20% Fibonacci level of $0.069. In addition, it has successfully surpassed the critical resistance level of $0.064, further increasing the likelihood of continued upward momentum.

With buying pressure continuing to rise, the 50-day, 100-day, and 200-day exponential moving averages (EMAs) are all shifting bullish. The 50-day EMA is poised to potentially cross above the 100-day EMA, signaling further strength.

Additionally, the MACD and signal lines are showing a strong bullish trend, with positive histograms supporting the upward momentum. Overall, technical indicators remain positive, suggesting that Hedera is positioned for continued gains.

Will HBAR Price Top $0.10?

A breakout above $0.069 will be a critical point for the Hedera price trend, marking a key entry level for price action traders.

If the uptrend continues, the next resistance levels, based on Fibonacci retracement, will likely be around $0.094 (68.10% level). This sets up the potential for HBAR to challenge the psychological $0.10 mark.

On the downside, key support levels to watch are $0.064 and $0.056.

New Shiba Inu Whale Amasses 4,000,000,000,000 SHIB Amid Market Correction

Elendu Benedict
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New Shiba Inu Whale Amasses 4,000,000,000,000 SHIB Amid Market Correction

A Shiba Inu whale has moved 4 trillion SHIB worth $99 million to a new unidentified address amidst the current market consolidation.

A Thursday transaction raised eyebrows among the Shiba Inu community as a whale shuffled a large amount of SHIB to an unidentified wallet. The transaction correlated with a broader market correction, leaving investors wondering what was next after the transfer.

Transaction Details

Whale Alert drew the community’s attention to a massive Shiba Inu movement, where a whale moved 4,000,000,000,000 SHIB to an unknown wallet. At the time, the tokens were worth a whopping $99 million.

The shift saw wallet address “0x42219” move 4 trillion SHIB to “0x633be” by 20:45 (UTC) on November 14. On-chain analysis shows that the wallet moved the Shiba Inu at an average price of $0.00002475.

Notably, the sending address is one of the largest Shiba Inu holders, currently holding over 7 trillion SHIB (0.7302% of Shiba Inu’s total supply). Notably, the wallet is the ninth-largest Shiba Inu holder.

Meanwhile, the receiving address seems new, as the 4 trillion SHIB movement was one of its only two transactions. The wallet’s other transaction, which looked like a test transfer, saw it receive 100,000 SHIB ($2.37) by 13:55 (UTC) the same day from the same sending address.

At the time of writing, the receiving address still holds the funds, signaling it might be a mere fund shuffle. The “0x633be” address holds 4,000,000,100,000 SHIB, valued at $94.7 million at the current price.

Further investigation carried out by The Crypto Basic confirmed that both the sending and recipient addresses belong to digital asset firm BitGo. This confirms the theory that the movement was a mere in-house fund shuffle with no real market implications.

Shiba Inu Consolidates After Bullish Outburst

Meanwhile, the Thursday transfer correlated with a broader market consolidation after a bullish uptick. Shiba Inu has depreciated 7.76% in the past 24 hours, trading at $0.00002368 at press time.

SHIB has also dropped 24.25% from its weekly high of $0.00002943, which it attained on November 12. However, it is still up 22.81% in the past seven days after an uptick from its $0.00001926 price at the start of the week.

Notably, bullish momentum is still prevalent in the Shiba Inu ecosystem as its marketing lead, Lucie, speculated that the next price uptick will target $0.00006861. At the current market price, it would surge an impressive 190% to attain the price mark.

XRP Ledger Welcomes MiCA-Compliant Stablecoin EURCV

Abdulkarim Abdulwahab
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XRP Ledger Welcomes MiCA-Compliant Stablecoin EURCV

SG-FORGE, the digital asset subsidiary of the French banking giant Société Générale, is preparing to launch its MiCA-compliant euro-pegged stablecoin, EUR CoinVertible (EURCV), on the XRP Ledger (XRPL).

In a statement on Thursday, the company announced plans to roll out EURCV on XRPL next year. This move aligns with a broader multi-chain approach for the token, which already operates on Ethereum and Solana. 

Initially, SG-FORGE launched EURCV on Ethereum in 2023 to compete against dominant dollar-pegged stablecoins like Tether’s USDT and Circle’s USDC. In September, the firm launched on Solana. Now, SG-FORGE is introducing the MiCA-compliant stablecoin to XRPL.

Despite its regulatory backing, the euro stablecoin has faced challenges in gaining widespread adoption. Its total issuance is just €38 million, significantly smaller compared to the €92 million in EUR Coin issued by Circle. Nevertheless, SG-FORGE has continued its expansion and is now focusing on the XRP Ledger.

The decision to integrate EURCV on the XRPL aims to boost adoption by leveraging the XRP Ledger’s scalability, speed, and low transaction costs.

EURCV Stablecoin on XRP Ledger with Ripple’s Custody Services

This move highlights SG-FORGE’s confidence in the XRP Ledger’s ability to scale cross-border payments and tokenization. The XRPL boasts fast settlement times and cost-effective transactions, which SG-FORGE sees as key advantages for institutional use cases, including payments. 

The XRP Ledger is also home to over 1,750 unique applications and exchanges. Since 2012, it has processed more than 2.8 billion secure transactions and supported more than 5 million active wallets. As part of the deployment, EURCV will rely on Ripple’s Custody services for its issuance.

Markus Infanger, Senior VP at Ripple, remarked that integrating trusted, banking-grade stablecoins such as EURCV onto the XRPL is essential for facilitating institutional use cases, particularly payments, which remain a central focus for Ripple.

Growing Interest in Stablecoins for Global Payments

SG-FORGE’s move reflects a broader trend of traditional financial institutions exploring stablecoins to streamline global payments. As regulations around stablecoins continue to develop, more institutions are looking to issue their own. 

For instance, Ripple is working on its own U.S. dollar-backed stablecoin, RLUSD, which is reportedly operationally ready and awaiting approval from the New York Department of Financial Services. 

Similarly, Spanish bank BBVA has plans to issue a stablecoin on Ethereum next year in partnership with Visa’s tokenization platform.

In October, the Central Bank of the UAE also approved AED Stablecoin LLC to launch AE Coin, the UAE’s first dirham-backed stablecoin. AE Coin aims to provide blockchain-powered payments backed by transparent reserves.

XRP Whale Wallets Accumulate 3.44B More XRP, Now Holding 45.61B Tokens, Highest Since June 2018

Sam Wisdom Raphael
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XRP Whale Wallets Accumulate 3.44B More XRP, Now Holding 45.61B Tokens, Highest Since June 2018

XRP whale addresses holding 1 million tokens and above have reached a 6-year high in holdings amid a recent spike in XRP price.

According to Santiment’s latest data, these large XRP whale investors now hold 45.61 billion tokens, marking their highest cumulative balance since June 2018. The recent milestone coincides with a surprising surge in XRP price to reclaim the $0.80 level.

XRP Whale Accumulation Spikes

In its disclosure, Santiment further confirmed that high-value XRP wallets, which previously carried out large-scale distributions, have amassed a net addition of 3.44 billion XRP in the past two years, representing an 8.16% increase in their holdings. 

XRP Whale Wallets Santiment
XRP Whale Wallets | Santiment

This increase in large-scale accumulation suggests strong confidence in XRP’s potential, especially after the prolonged period of legal uncertainty Ripple faced in the U.S. courts. Notably, the latest reports suggested Ripple execs recently met with President-elect Donald Trump.

As regulatory and political developments shift in favor of crypto and XRP, such XRP whale movements signal optimism about its future. The market often regards these holders as well-informed players with substantial resources.

Amid the recent accumulation trend, XRP’s recent price action has been notably bullish. XRP is currently trading at $0.8086, maintaining its momentum despite broader market pullbacks. With a 14.69% gain over the past 24 hours, XRP is the top gainer among the 100 largest assets.

Within the same timeframe, other cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin, have each recorded declines, contrasting with XRP’s upward trend. Particularly, BTC is down 2.10%, while ETH and DOGE have respectively collapsed 4.68% and 6.35%.

XRP Support Levels to Watch

On the daily chart, XRP has broken above the upper Bollinger Band, which currently sits around $0.7595. This level may act as an immediate support point if XRP experiences a pullback. 

Additionally, the 23.6% Fibonacci level at $0.7650 stands out as the next potential cushion, confirming the $0.75-$0.77 range as a vital support area. 

Notably, the $0.75 region had previously acted as resistance, and XRP holding above it is crucial for sustaining its bullish trajectory. A drop below this zone could signal a reversal, making it challenging for XRP to reclaim momentum.

Meanwhile, within the Directional Moving Index, the positive directional index (+DI) stands at 40.7, much higher than the negative directional index (-DI) at 4.6, which suggests a strong upward bias in market sentiment. 

Meanwhile, the Average Directional Index (ADX) is at 37.9, confirming a robust trend. However, it’s important to note that the +DI is beginning to slope downward as the ADX rises. 

This combination may indicate that while the upward trend remains strong, its intensity could start to moderate in the coming sessions, potentially hinting at consolidation or a minor correction.

At this point, if XRP can sustain its current price levels above $0.80, it may continue to advance toward the next Fibonacci resistance levels. However, any retreat below the immediate support levels can be bearish, especially if broader market corrections deepen.

Here is How Much 1 Cardano Can be Worth if ADA Rises 100%, 500% or 1000% Post US Elections

Sam Wisdom Raphael
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Here is How Much 1 Cardano Can be Worth if ADA Rises 100%, 500% or 1000% Post US Elections

Cardano could double its 2021 all-time high price if it witnessed a price increase of up to 1,000% following the U.S. presidential election.

The broader crypto market has reacted favorably to the just-concluded U.S. presidential election following the victory of pro-crypto candidate Donald Trump. As the early vote count suggested a Trump win, Bitcoin (BTC) quickly clinched a new ATH, triggering a massive run across the market, with ADA benefiting.

Cardano Sees Post-Election Rally

Now, days after the GOP candidate’s victory, Bitcoin has set a new ATH above $93,000. Despite Cardano kicking off its upsurge later than the rest of the market, it appears to be catching up. 

For context ADA is up 41.79% over the past week, making it one of the largest gainers among the top 20 crypto assets by market cap. Amid the rally, Cardano touched an 8-month peak of $0.6599 on Sunday before facing a pullback.

Now trading for $0.6171 at the reporting time, ADA has the potential to breach its all-time high if it sustains this rally. Max Maher, a notable market analyst, argued in August that Cardano was looking to record an impressive 1,000% rally. 

Cardano Price if It Rallies 100%, 500% or 1,000% After US Election

Should this rally materialize, ADA could be setting itself up for massive gains. From its current position, if Cardano witnesses another 100% rally, this will be sufficient to allow the altcoin to reclaim the $1 mark, taking it to a price of $1.2342. ADA last saw the $1 territory in April 2022 and has continued to trade below it since then.

However, if this rally extends further, and Cardano secures a possible 500% increase from the current price, it will break above the all-time high price of $3.1, reaching a value of $3.7, a new all-time peak. At this price, ADA’s market cap would soar to $129.56 billion, placing it among the top 4 largest crypto assets.

Meanwhile, the 1,000% rise projected by Maher could allow Cardano to reach double the previous market peak. With a 1,000% increase after the U.S. election, Cardano’s price would skyrocket to $6.78. Interestingly, in October, market analyst Ali Martinez predicted a possible Cardano rally to the $6 mark. 

Cardano’s Performance in Previous Elections

These projections are not without context, as ADA also secured an impressive rally following the November 2020 US elections. In the month of the 2020 election, Cardano spiked 85% from $0.0930 to $0.1720. ADA sustained this rally in subsequent months until it clinched the $3.1 all-time peak in September 2021.

This represented a massive 3,459% rally. Notably, following the latest US elections, Cardano is already up 89%, with 15 days before the close of November. If it sees only a third of the previous post-election rally, it can easily reach the $6 mark.

Ripple Says Its Stable Coin RLUSD Operationally Ready

Elendu Benedict
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Ripple Says Its Stable Coin RLUSD Operationally Ready

Ripple President Monica Long has described the role of RLUSD in Ripple’s operation, noting the stablecoin would complement XRP.

With the Ripple-USD (RLUSD) operationally ready, Ripple’s President Monica Long has given an insight into what the payment firm aims to achieve with the stablecoin integration. Long noted in an appearance at The Scoop that RLUSD would complement XRP in its payment operations.

 

RLUSD to Complement XRP

Long noted that the RLUSD is both addictive and complementary to the XRPL native token, emphasizing that the stablecoin would provide more transactional options for clients. She stated that RLUSD would best suit users looking to avoid the volatility in the crypto market and hold or trade tokenized USD on-chain.

The Ripple President also noted that RLUSD would attract developers. She insisted that RLUSD’s deployment on the XRPL Ledger would provide use cases for developers, especially in the decentralized finance (DeFi) space, allowing them to build applications with utility and scalability.

Meanwhile, Long stated that XRP would still play a vital role in the XRP Ledger. She noted that XRP works well in transactions that involve currencies with low liquidity, providing a fast and cost-effective transfer path for Ripple’s clients.

Notably, Long revealed that Ripple has settled transactions worth over $70 billion using blockchain technology. These figures explain the large XRP shuffle from Ripple periodically seen on-chain.

RLUSD Operationally Ready

Long noted that stability and regulatory clarity are vital components of a successful stablecoin, and Ripple intends to ensure both are in place. The President stated that it is due to these delicate stablecoin requirements that Ripple acquired Standard Custody to boost its RLUSD ploy.

Furthermore, Long disclosed Ripple will offer RLUSD through Standard Custody’s New York license. She insisted that New York’s Department of Financial Services ensure a 100% backed stablecoin issuance, providing Ripple with the needed regulatory transparency.

Notably, Long disclosed that RLUSD is operationally ready. However, the payment giant is still awaiting regulatory approval to launch the stablecoin. 

The President noted that Ripple aims to tap the growing demand for stablecoin, especially from its Asian Pacific, European, and Australian clients. Ripple also intends to position RLUSD as a leading stablecoin in the sector, which is predicted to surge to a $3 trillion market cap in the next five years.

Here’s How High XRP Surged When Donald Trump Was President

Lele Jima
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Here’s How High XRP Surged When Donald Trump Was President

Investors hope XRP will replicate its incredible performance during Donald Trump’s first term as U.S. President when he returns to office next year. 

XRP has attracted the attention of the broader crypto community following its impressive rally in the past few days. 

XRP Achieves Major Milestones 

Despite a widespread market capitulation, XRP has shown resilience, surging past the $0.8 mark yesterday. XRP ranks as the best-performing asset among the top 100 largest cryptos by market cap, with a daily growth of 15.3%. 

Notably, XRP’s latest rally started after the re-election of Donald Trump, who promised unwavering support for the crypto. 

However, while several crypto assets, particularly Bitcoin and Dogecoin, immediately witnessed huge gains, XRP initially remained at the $0.5 level, leaving many investors frustrated. Consequently, it lost its longstanding seventh position after Dogecoin and USDC flipped it. 

Following its latest rally, XRP has reclaimed its position as the seventh-largest cryptocurrency, overtaking USDC along the way. Its price also rose to a two-year high of $0.8452. This follows speculation that Ripple met with Trump’s advisory team days after the presidential election. 

Popular XRP community figure Zach Rector suggested on X that Ripple CEO Brad Garlinghouse confirmed the meeting with Trump by liking his earlier post. 

This triggered a new wave of apprehensions, with many people speculating that the longstanding SEC v. Ripple lawsuit could be resolved after Trump’s inauguration next year.  

XRP Price When Trump Was President 

XRP performed incrediblely during Trump’s first term as president, which lasted from January 2016 to January 2021.

Under his administration, XRP surged to an all-time high (ATH) of $3.84 on January 4, 2018. This has remained XRP’s peak price for nearly seven years. 

It is worth mentioning that the SEC introduced the Ripple lawsuit on December 22, 2020, less than a month before Trump’s first term expired. However, the case started officially in 2021 under a new SEC leadership appointed by President Joe Biden. 

The lawsuit caused XRP to miss out on the 2021 bull run, which saw several crypto assets like Ethereum (ETH) register new ATHs. With many experts confident that Ripple’s meeting with Trump would end the multi-year SEC lawsuit, XRP might become one of the shining stars in the second phase of the bull run. 

Additionally, several factors, such as its payment utility, ETF potential, and non-security status, could pave the way for XRP’s substantial rally. 

In the meantime, XRP is trading at $0.8230, up 15.3% in the past day and 45.03% over the last week. Its trading volume has also exploded by 73.24% to $11.06 billion. With a market cap of $45.57 billion, XRP is now the seventh-biggest cryptocurrency.  

XRP is a Better Play Than ETH This Cycle: Ichimoku Cloud Analyst

Sam Wisdom Raphael
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XRP is a Better Play Than ETH This Cycle: Ichimoku Cloud Analyst

Notable Ichimoku Cloud analyst Dr. Pastet recently suggested that XRP may outperform Ethereum (ETH) during the current crypto bull cycle. 

His analysis focused on the XRP/ETH, XRP/BTC, and ETH/BTC pairings. Dr. Pastet’s primary tool, the Ichimoku Cloud, helps highlight trend direction and price momentum. 

The commentary suggests a difference in the positions of XRP and ETH this cycle. Pastet noted that critical elements in the Ichimoku Cloud, such as the Kijun-sen and Chikou Span, signal stronger prospects for XRP compared to Ethereum.

For the uninitiated, the Kijun-sen is the baseline, with prices above it showing an uptrend and below it indicating a downtrend. Meanwhile, the Chikou Span (lagging span) suggests bullish momentum when it is above the asset’s price but bearish momentum when it is below.

XRP/ETH Showing Uptrend Potential 

In his analysis, Dr. Pastet examined the XRP/ETH chart through the Ichimoku Cloud. He noted that XRP is trading within a range, with the Chikou Span and Kijun levels indicating potential stability. 

XRPETH Ichimoku Cloud Dr Pastet
XRPETH Ichimoku Cloud | Dr Pastet

A flat Kijun line suggests that the price will oscillate within this range, using Kijun as a central pivot point. The analyst estimates a conservative upside of around 25% from current levels, even if XRP simply touches the Kijun level. 

However, if it begins oscillating more dynamically, he projects a test of the $0.93 highs from July 2023. Such a scenario could potentially lead to a price movement close to doubling XRP’s current value, contrasting Ethereum’s trajectory.

XRP/BTC and ETH/BTC are Favorable for XRP

Besides the XRP/ETH pairing, Dr. Pastet spotlighted the XRP/BTC and ETH/BTC charts. He pointed out that ETH/BTC shows weakness, especially as Ethereum’s Kijun is trending downward, suggesting bearishness.

ETHBTC Ichimoku Cloud Dr Pastet
ETHBTC Ichimoku Cloud | Dr Pastet

This descending Kijun implies a loss of momentum for ETH and raises the risk of a “dead cat bounce.” This is a temporary recovery in a downtrend that doesn’t indicate a reversal. Dr. Pastet expressed skepticism about Ethereum’s ability to stage a sustainable rally and believes that any bounce may quickly encounter resistance.

In contrast, XRP/BTC looks more favorable, with a flat Kijun level and Senkou Span B (SSB), which implies stability and range-bound movement. 

XRPBTC Ichimoku Cloud Dr Pastet
XRPBTC Ichimoku Cloud | Dr Pastet

The flat Kijun and SSB indicate XRP’s strength against Bitcoin, setting a minimum target of 0.000018 BTC for XRP. For context, XRP currently trades for 0.00000913 BTC, requiring a 97% increase to reach the 0.000018 BTC target.

XRP and Ethereum Sentiments

Besides the technical viewpoint, Dr. Pastet also discussed market sentiments around Ethereum and XRP. He argues that Ethereum enjoys strong attention from investors who expect it to bottom and then rally, assuming it remains the dominant altcoin. 

According to Dr. Pastet, this widespread optimism around ETH may ultimately work against it, as markets often defy popular expectations.

In contrast, XRP has faced dismissals and even dislikes from parts of the crypto community due to its legal battle and price stagnation. Dr. Pastet believes this skepticism could lead to a surprising shift in price action. 

Notably, when underappreciated crypto assets like XRP gain traction, they often outperform more hyped assets, creating unexpected gains for those who invest early.

Interestingly, XRP has continued to outperform Ethereum over the past few days. XRP had lagged at the start of the ongoing bull phase on Nov. 6 but recently picked up. As a result, XRP has gained 43% against Ethereum since Nov. 12, now trading at a three-month peak of 0.0002636 ETH.

Analyst Says Anything Less Than 40x for XRP This Cycle Is Manipulation, Reveals XRP Price Targets

Sam Wisdom Raphael
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Analyst Says Anything Less Than 40x for XRP This Cycle Is Manipulation, Reveals XRP Price Targets

A renowned market analyst recently suggested that anything less than a 40x increase for XRP this cycle could signal market manipulation. 

Following XRP’s underperformance during its last bullish cycle, market watcher EGRAG is confident that the altcoin now stands on more solid regulatory ground, which he believes should lead to a remarkable price surge.

Notably, XRP’s previous cycle high reached only $1.96, falling short of its all-time high of $3.3. In his latest analysis, EGRAG attributed this underperformance primarily to the legal actions from the U.S. Securities and Exchange Commission (SEC) against Ripple.

This battle led to massive XRP sell-offs and delistings from several major exchanges across the U.S. and Canada. The lawsuit affected XRP’s potential, limiting its value in a cycle when many other crypto assets saw historic gains. 

XRP Potential for 40x Gains in the Current Cycle

Now, with Judge Analisa Torres’s ruling in July 2023 that XRP is not a security, regulatory clarity appears to be creating the pathway for XRP to reclaim and potentially surpass its previous highs. 

For context, this ruling has brought legitimacy to XRP, which could translate into massive price growth. EGRAG argues that the market’s response to this clarity should ideally see XRP achieving a minimum of 40x gains from its cycle low of $0.28.

If XRP reached this threshold, it would imply a price target of around $11. EGRAG believes anything short of this 40x increase could translate to an intentional market manipulation, holding back XRP from reaching its potential.

XRP Price Expectations in Comparison to Bitcoin and Ethereum

Besides the 40x increase, EGRAG explored other possible price expectations using growth rates from other prominent cryptocurrencies, such as Ethereum (ETH) and Bitcoin (BTC). 

During its last market cycle, Ethereum recorded an impressive 58x gain, rising from $80.9 to an all-time high of $4,868. If XRP matched this 58x multiple, it could reach a price of $16 from its current lows. 

On the conservative end, even if XRP only matched Bitcoin’s last cycle multiplier of 21x, it would still bring its price up to $5.88. Although this target falls below EGRAG’s 40x expectation, he noted it was possible.

However, he maintains that a 40x or higher performance should be the baseline due to XRP’s unique position on the regulatory front.

Could XRP Break the 40x Ceiling?

Meanwhile, EGRAG also speculated about a more ambitious outcome, suggesting that XRP could experience a 50x or even a 96x increase if market conditions are favorable enough. 

A 50x gain would place XRP around $14, while an exceptional 96x rise could push its value to an astonishing $27. While EGRAG did not specifically predict these outcomes, he implied that they remain within the realm of possibility.

Notably, these projections serve as possibilities rather than guarantees. Interestingly, in the short-term, XRP has 19% over the past 24 hours to trade at $0.8329, while the rest of the market is correcting. XRP is now the top gainer among the 100 largest assets.

XRP Now Top Gainer CoinMarketCap
XRP Now Top Gainer | CoinMarketCap
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