The post XRP Launches a Bullish Attack as Gensler Steps Down as SEC’s Chair—How High Can XRP Price Go in 2024? appeared first on Coinpedia Fintech News
Market sentiments have turned extremely bullish, and Bitcoin is about to hit the $100K milestone anytime soon. While the other altcoins trade within a narrow range, the XRP price is preparing for a monstrous rally, as the technicals, fundamentals, and eternal factors have all flipped in favour of the token. With this, the expectation of a 50% run through the upcoming week has emerged, which could pave the way for a new ATH before the end of the year.
In a recent update, SEC Chair Gary Gensler, who was pretty stringent on the crypto community, is all set to step down from his position. The president-elect, Donald Trump, in his election campaign had assured to remove him. Still, this move ahead of the induction of the new government is expected to kick-start a fresh upswing within the crypto markets. Soon after this, the Bitcoin price broke out of the range and is about to achieve the milestone; meanwhile, the XRP price launched a 25% rise to secure levels above $1.3.
Now that the token has exploded over 30% in the past 24 hours, can the XRP price reach $2 by the end of the month?
The historical pattern suggests the XRP price is trying to follow the previous run, which triggered a massive rally towards the ATH. Presently, the price has broken out from a similar decisive triangle and if it replicates the previous one, then the token may face a small pullback before triggering the next price action. However, the changed market sentiments are expected to revive a strong ascending trend towards the new ATH, probably forming a double-digit figure.
Meanwhile, the volume remains the major constraint. Previously in 2018, there were a bunch of cryptos for the traders to invest in. However, with the emergence of memecoins, AI tokens, DeFi tokens, etc., the XRP price may not alone attract massive liquidity. Therefore, the bull run may certainly not replicate the previous one, but the XRP price remains primed to form a new ATH close to $5, probably in 2025.