How High Can XRP Price Realistically Go After Gensler?
Gary Gensler’s resignation as chairman of the U.S. Securities and Exchange Commission (SEC) effective January 20, the same day President-elect Donald Trump is set to be inaugurated, will be a significant moment for the XRP community A day of remembrance. In his latest video, cryptocurrency analyst Rodney (@cryptojourneyrs) shared Price potential analysis in the post-Gensler era.
At the time of his analysis, XRP was trading at $1.43, reflecting Significant growth of 172% past month. The market capitalization soared to US$81 billion, and daily trading volume reached US$22 billion. “XRP is starting to return to its normal position among cryptocurrencies as one of the dominant altcoins,” Rodney said.
Why XRP is poised to soar
Rodney said in the video that Trump’s promise to fire Gensler on his first day in office could have an impact Gensler decides to resign Pre-emptive strike. “Gary Gensler will resign as SEC chairman on January 20, the same day Trump will be inaugurated,” Rodney said. “Trump promises to fire Gary Gensler on day one Le, so I think Gary Gensler wants to resign himself.”
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Reflecting on the SEC’s lawsuit against Ripple, Rodney noted that it had a significant impact on prices and market perception. “When the SEC sued Ripple, the (XRP) price dropped 50%. This is one of many lawsuits filed by the SEC and Gary Gensler against many different crypto projects. It looks like they are trying to control this space so that it does not exist.” Luo Deni said.
He noted that despite legal challenges, XRP remains the top cryptocurrency. “Even after all the crap, XRP is still the top cryptocurrency and it really hasn’t fallen out of the top 10 in years,” he said.
Rodney also discussed Ripple’s A partial victory against the SEC. In July 2023, this set an important precedent in the cryptocurrency industry. However, he expressed surprise that prices did not react more positively at that time.
“When we heard the news that they had partially defeated the SEC, XRP started to surge to around $0.67, but then quickly dropped to around $0.50 without really doing anything,” he observed. “It hasn’t moved with the cryptocurrency market at all… It’s a running joke that it’s our favorite stablecoin.”
Speaking about the political landscape, Rodney explained: “Donald Trump actually ended up destroying Kamala Harris and will be the next president of the United States,” he said. He emphasized Trump’s pro-crypto stance, noting that he is “more open to supporting cryptocurrencies” and is “the first president to purchase anything with cryptocurrencies.”
Rodney highlighted the involvement of various cryptocurrency projects in political campaigns, mentioning that “many cryptocurrency products were behind the scenes funding the campaigns of both candidates.”
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As politics shift, Rodney expressed optimism about the future integration of cryptocurrencies into government systems. “Now that cryptocurrencies seem to be more involved in our governments than ever before, XRP will be right up there with the top projects in my opinion,” he asserted.
He elaborated on XRP’s core goals, saying: “What does XRP want to do? They want to use it for international remittances (…) They want to enable fast, low-cost international remittances and currency exchanges.” He said that in the government’s With support, XRP can realize this potential.
How High Can XRP Price Go?
Rodney also delved into XRP price predictions, considering various market cap scenarios.
If XRP reaches Ethereum’s roughly $400 billion market capitalization, its current price will rise 4.9 times, bringing XRP to around $6.98. “XRP, for example, became part of our government and we actually used it for its real purpose. Everyone used it and it magically reached the same market cap size as Ethereum,” he speculated.
Imagining XRP reaching Bitcoin’s roughly $2 trillion market cap, he calculated a 24x increase, which would put XRP at about $33. “Let’s imagine a crazier scenario (…) assuming we give Bitcoin a market capitalization size of around $2 trillion right now,” he mused.
He believes that $10 of XRP (equivalent to a market cap of $600 billion) is a reasonable possibility. “I think $10 of XRP or a $600 billion market cap of XRP is reasonable,” he concluded.
However, Rodney acknowledged the challenges inherent in these predictions, noting that “it will be difficult for any cryptocurrency project to reach these market cap sizes because Bitcoin currently dominates the entire market.”
At press time, XRP was trading at $1.40.
Featured image created using DALL.E, chart from TradingView.com
