XRP Price Prediction: Will the Gensler Resignation Trigger a Bull Run to $2?

The XRP price pumped 67% in the last week and 13% in the last 24 hours to trade at $1.58 as of 08:37 p.m. EST on trading volume that surged 32% to $20 billion

The XRP price soared 67% in the last week and 13% in the last 24 hours to trade at $1.58 as of 08:37 p.m. EST on trading volume that surged 32% to $20 billion, according to CoinGecko.

This comes as the chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, took to Twitter to announce that he will be stepping down from his position on January 20th, 2025.

On January 20, 2025 I will be stepping down as @SECGov Chair.

A thread 🧵⬇️

— Gary Gensler (@GaryGensler) November 21, 2024

The XRP price pumped in response to the news because parent Ripple has been in a long-running legal battle with the Gensler-led SEC. Many analysts believe that Gensler’s departure will usher in more crypto-friendly regulations under the Trump presidency.

XRP Price Indicators Signal A Sustained Bullish Trend

The XRP price has been in a sustained rally in the last two weeks, as shown by the markup phase (the black arrow on the chart). The price of XRP then went through some consolidation within the $1.0 range.

However, continued pressure from the bulls propelled XRP through a parabolic curve pattern, which is a hallmark of strong bullish momentum.

The uptrend in November has resulted in the XRP price to trade above both the 50-day Simple Moving Averages (SMAs), which further supports the strong bullish sentiment.

Meanwhile, the Relative Strength Index (RSI) value is 81.34, which is well above the overbought threshold of 70. This suggests that XRP is in overbought territory and a short-term pullback or consolidation might occur.

The bullish prospect is further cemented by the Moving Average Convergence Divergence (MACD). The blue MACD line crosses above the orange signal line, a representation of a bullish crossover.

However, the Stochastic Oscillator 14 3 is at 91.23, deep in the overbought zone. This suggests that the current rally is overheated in the short term, and a correction or consolidation may soon follow.

XRP/USDT Chart Analysis (Source: Tradingview)

XRP Price Prediction

According to the XRP/USDT chart analysis on the 4-hour timeframe, the XRP price is currently on a strong bullish trend. The bullish stance is supported by the major indicators, including the RSI, MACD, and the Stochastic Oscillator 14 3.

If the bullish rally continues, the price of XRP could surge even further, with $2 now acting as the next possible target.

Conversely, as a result of the overextended RSI and Stochastic Oscillator, the price of XRP may be due for a pullback. In this scenario, XRP could plunge slightly to the $1.11 level, coinciding with the 50-day SMA.

Meanwhile, investors are going all-in on the Pepe Unchained ($PEPU) presale, which has surged past the $40 million mark in its presale, which has less than 20 days left.

Whale investors continue to pile into the project, with the two latest mega buys for $220K and $100K.

YouTube channel 99Bitcoins, with over 706K subscribers, says PEPU has the potential to turn $1k into $10k after launch.

Pepe Unchained Presale Has Less Than 20 Days Left

Pepe Unchained is a new ICO that aims to liberate, or unchain, the original PEPE from its clunky, inefficient Ethereum blockchain.

That’s why it comes complete with its own Layer 2 blockchain, which offers superior transaction speeds and significantly reduced fees compared to Ethereum. It also comes with a dedicated block explorer and a decentralized exchange (DEX).

It also plans to open its ecosystem to other meme coins and has launched developer grants with the aim of attracting talent to further upgrade its ecosystem.

Who needs some Brain Powder?

Pepe is gearing up for the official launch of his very own blockchain! 🚀 pic.twitter.com/kZC72UmxFy

— Pepe Unchained (@pepe_unchained) June 20, 2024

The development team has ambitious goals, and recently unveiled Pepe’s Pump Pad, a meme coin launchpad that will take on Solana’s Pump.fun.

We’ve been approached by several Tier 1 exchanges interested in $PEPU.

While this is an exciting opportunity that will boost visibility and liquidity, it also requires careful planning to ensure the best possible launch.

— Pepe Unchained (@pepe_unchained) September 18, 2024

With PEPU’