XRP eyes $0.65 as analysts predict post-election gains

Ripple’s XRP (CRYPTO:XRP) saw a notable 6% daily increase, climbing to nearly $0.57 on November 7 before settling at around $0.55, reflecting a 7.5% rise over the past week, according to CoinGecko data.

Analysts have pointed to potential further gains for XRP, with CRYPTOWZRD, a notable market observer, indicating that a breakout above the $0.55 resistance could drive the asset toward $0.65.

CRYPTOWZRD noted that XRP “closed strongly bullish” on November 6, emphasising that the dismissal of Gary Gensler, current Chair of the US Securities and Exchange Commission (SEC), could bolster XRP’s market position.

Trump previously vowed to remove Gensler on his first day in office, a move some believe would enhance XRP’s trajectory.

The relationship between Ripple and the SEC has been strained since 2020 when the SEC filed a lawsuit against Ripple, alleging that the company’s sale of XRP constituted unregistered securities offerings.

The case remains unresolved, but recent election results have fueled speculation on potential regulatory shifts.

Ben Armstrong, known as “BitBoy,” shared a similar outlook, suggesting that Gensler’s potential dismissal might position XRP as the strongest performer among the top 100 cryptocurrencies during Trump’s presidency.

Other industry voices have echoed positive predictions.

Brett, an industry commentator, stated that the crypto market is entering “the most exciting phase of this cycle,” foreseeing a substantial rally for XRP.

Meanwhile, EGRAG CRYPTO outlined a long-term analysis, suggesting that XRP’s price could follow a pattern resembling Nike’s iconic “just do it” logo, potentially leading to a price spike up to $1.60.

EGRAG CRYPTO also mentioned that a confirmed weekly close above $1.10 could indicate that XRP may sustain levels above $1 permanently.

At the time of reporting, the XRP price was $0.5541.