XRP Price Prediction For November 22: $2 Target in Sight
With the unsurprising resignation of SEC Chairman Gary Gensler, the price of XRP has surged by more than 24% in the past 24 hours. Gensler’s announcement that he would resign on January 20, the same day that Trump is set to be inaugurated, caused excitement among XRP fans. The news gives Ripple a boost after years of battling the SEC. However, XRP is still a long way from its all-time high of $3.84. The big question now is whether XRP can reach new highs in 2024.
XRP Price Trend: Current Support and Resistance
Crypto World analyst Josh said that XRP is trading between key support (gold pockets) and resistance at the 78.6% Fibonacci level. The support area ranges from $0.94 to $1. The analyst said that for XRP to continue its bullish trend, it needs to break out and confirm above $1.30. The analyst said that as of writing, XRP is trading at $1.37 and if successful, the next target could be $1.70 or even $2.
Bullish potential: 52% upside
XRP is forming a symmetrical triangle pattern with resistance at $1.13 and support at $1.10. The price is very close to breaking out of this pattern, which may happen the next day. If XRP breaks the $1.13 resistance, the next target will be around $1.40. On the other hand, if there is a break below the support, we could see the price drop to $0.92 to $0.93. If XRP breaks out to the upside, significant moves are possible, with an initial target of $1.34 and a larger target of $1.72, a 52% increase.
in conclusion
While Gensler’s departure is seen as a victory for the cryptocurrency community, the industry remains focused on ensuring clearer regulation and continued advocacy. There are reports that Trump is considering a pro-cryptocurrency candidate to replace Gary Gensler as SEC chairman. However, only time will tell who will ultimately be chosen and how it will impact the future of cryptocurrency regulation.
