XRP Price Rises 2.8%, BitBoy Predicts Major Surge if Trump Takes a Decisive Action

XRP gained 2.8% after Bitcoin hit $76,000. BitBoy predicts an XRP price rally if Trump removes SEC Chair Gary Gensler.

Key Takeaways

• The price of XRP is still rising as rumours of Gensler’s termination grow.
• According to BitBoy, XRP will overtake meme coins as the dominant currency in the upcoming cycle.
• Mark Uyeda is now the subject of more conjecture on Gensler’s replacement than Hester “Crypto Mum” Peirce.

The price of XRP just increased by 2.8% as the whole cryptocurrency market surged, driven by Bitcoin hitting a record-breaking $76,000. Meanwhile, well-known cryptocurrency celebrity BitBoy conjectured that if president-elect Donald Trump chooses to fire Gary Gensler from his position as SEC Chair, the value of XRP may rise even more.

Will XRP Price Surge If Trump Dismisses  Gensler

Numerous crypto bloggers, prominent personalities, and a sizeable percentage of the crypto community are urging President Trump to remove Gary Gensler, suggesting that Ripple may be in for more surprises following Trump’s recent triumph.

Blockchain expert and popular YouTuber Ben “BitBoy” Armstrong has speculated that XRP is one of the 100 most actively pumping coins. In a previous interview, BitBoy implied that XRP is the greatest asset by saying that all meme currency money will flow into it in the next cycle.

In addition to congratulating Trump on his victory, Ripple’s CEO took to the X platform on November 6 to suggest the concept of “Fire Gensler. Day 1, No Delays.” In addition, he suggested that Brian Brooks, Christopher Giancarlo, or Daniel Gallagher succeed Gensler.

.@realDonaldTrump, Congratulations!

Some fodder for your first 100-day checklist to get things moving:
– Fire Gensler. Day 1, no delays.
– In his place, appoint Giancarlo, Brooks, or Gallagher – they’d be massive upgrades in rebuilding the rule of law (and reputation) at the…

— Brad Garlinghouse (@bgarlinghouse) November 6, 2024

Speculations, however, point to SEC commissioner Mark Uyeda—rather than Hester “Crypto Mum” Peirce, who was nominated to the position by President Trump in 2018, as the most probable candidate to succeed Gary Gensler.

In New York pre-market hours, XRP was trading at roughly $0.5515, following a 6% gain over the previous week.

Is Gary Gensler’s Dismissal Likely to Cause XRP Prices to Skyrocket?

In the aftermath of Trump’s election, Bitcoin surged to a new high above $76,400, while XRP surged to $0.5739, its highest in 30 days. As a result, the general mood in the cryptocurrency market improved.

The price of XRP retreated to its present level after failing to maintain a price above the $0.55 barrier level. On the other hand, with an ADX reading of 29.61, volatility is clearly on the rise. There is still opportunity for movement in the Relative Strength Index (RSI), which is at 65.72 and is close to the overbought level. This might be the catalyst that XRP needs to break through the barrier level.

There is a multi-month resistance level at $0.66 that will be difficult to overcome, but a short-term rally to $0.66 might be set off if XRP price breaks close above $0.55. A price of $0.94 or perhaps $1 is possible for XRP after that.

Current bullish thesis would be rendered useless if bears manage to bring the price below $0.5. Ripple is now more clearly defined by regulators, but it isn’t performing as well as competitors like Binance Coin (BNB) and Solana (SOL) on the market.

Although BitBoy and others had thought that Gensler’s removal would lead to substantial XRP gains, sceptics have cast doubt on this. Even said, there’s still optimism among community members over the potential huge effect of Gensler’s retirement on the future price trajectory of XRP.