Cryptocurrency rate XRP ( XRP ) continues to rise due to the possible dismissal of the Chairman of the US Securities and Exchange Commission (SEC) Gary Gensler.
In the Bitcoin markets, Ethereum and many other leading cryptocurrencies by market cap are seeing a correction after the end of the Trump pump, however XRP breaks out of this trend. On November 15, the token rate reached its maximum value since July 20, 2023 at $0,84. Then the asset value fell by 11%, but today the coin price is back started to rise .
Bullish rally in the market XRP should continue after the cryptocurrency rate breaks through the upper boundary of a small contracting triangle. The width of the figure suggests that XRP may rise in price to at least $0,93.
Contracting Triangle on the Rate Change Chart XRP
Upward trend in the market XRP is explained by the fact that on November 14 Gensler said about his possible resignation as SEC chairman. In 2020, the agency filed a lawsuit against the issuer XRP company Ripple , and investors are hoping Gary's departure will bring an end to a years-long legal battle between the regulator and the firm that created the cryptocurrency closer to an end.
Gary Gensler
There is an opinion that the new head of the SEC will be more friendly to the crypto industry and will put an end to the war against the digital asset industry unleashed under the leadership of Gensler. Of course, this will increase the quotes Ripple , as well as other American cryptocurrency companies.
