Will Ripple’s record-breaking rally push XRP to new heights, or is this just a temporary surge fueled by regulatory rumors and whale activity?

XRP’s record-breaking rally

Ripple (XRP) is stealing the spotlight this week, making headlines with an extraordinary price rally. As of Nov. 16, XRP has soared past the $1 milestone for the first time since November 2021, currently trading at $1.19. 

This marks a stunning 30% surge in the past 24 hours and an incredible 108% gain over the last seven days, solidifying its position as one of the best-performing crypto since Donald Trump won the U.S. presidential elections. 

Speculation about a potential shake-up in U.S. regulatory leadership has added fuel to the excitement. Reports suggest the possibility of SEC Chairman Gary Gensler stepping down, sparking hopes of a more favorable regulatory environment for crypto assets. 

Let’s explore the factors driving this rally, unpack the developments surrounding Ripple, and take a closer look at what these movements could mean for XRP’ price in the near future.

Gensler’s exit rumors

The swirling rumors about SEC Chairman Gary Gensler’s potential departure have injected a fresh wave of optimism into the crypto market, with Ripple’ XRP emerging as a clear beneficiary. 

While Gensler has not explicitly announced his resignation, his recent speech at the Practising Law Institute’s annual securities regulation conference struck a tone many have interpreted as a possible farewell. 

Describing his tenure at the SEC as “an honor,” Gensler reiterated his stance that most cryptocurren

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Author: Ankish Jain