- XRP surged over 120% in November, breaking key levels including $1, $1.10, and $1.20 for the first time in three years.
- Gary Gensler’s resignation as SEC Chair could lead to a more favorable regulatory environment for Ripple and boost XRP’s momentum.
- Current market conditions suggest a strong potential for XRP to reach new all-time highs in 2025.
Ripple is unquestionably one of the best-performing cryptocurrencies of the month. Overall, XRP saw a surge of over 120% in value since the start of November.
This growth led to the currency regaining historical key levels — including breaking the 1-dollar mark and then the $1.10 zone all on November 16th. Today, November 21st XRP broke yet another level, surpassing the $1.20 margin for the first time in 3 years.
Out of all the top 10 cryptocurrencies by market capitalization — XRP is the second-best performing asset of the day, only behind Ethereum. Today’s rally saw an 8% increase in value, with XRP currently trading at $1.21.
Today — Securities and Exchange Commission Chairman Gary Gensler announced that he will be stepping down from the position on January 20, 2025. This development – albeit predictable – is very important news for the crypto sector.
Throughout his tenure as SEC Chair — Gensler picked legal fights with a lot of cryptocurrency projects. Talks about his desire to classify altcoins as securities began around the date Ethereum merged into a staking consensus mechanism — and from that point forward Gensler continued to pick battles with cryptocurrencies.
One of the most affected by that was Ripple, which has fully embarked on the defense of XRP and fought a 4-year-long lawsuit to defend that XRP is not a security.
The uncertainty surrounding how the SEC would classify XRP was enough to cause a lot of investors to flee, given the possibility of an XRP collapse could be right around the corner at any given legal decision that didn’t go Ripple’s way.
However, with Gensler stepping down and the prospect of a more “pro-crypto” SEC Chair, the possibility of XRP continuing its rapid surge toward the top remains strong.
How Far Can XRP Go in 2025?
Current RSI indicators show that XRP is way above “overbought” levels, showing that a correction could happen in the future. However, if there is one thing that indicators don’t do is to analyze the context of which ‘why’ assets are behaving strongly one way or another.
The zone XRP trades right now are critical zone at $1.20 — and depending on how the currency behaves in the next few weeks it could continue its forward momentum.
Following its short-lived all-time highest period above $1.50 in May of 2021 – XRP attempted to get back to that level several different times from August to November of that year. Albeit unsuccessful, the $1.20 margin proved to be a pivotal breaking point for the digital asset.
Given the expectations of a market with a lot more freedom without Gensler on its back, the chance of XRP breaking above that zone remains strong.
If that happens, nothing is to say XRP couldn’t follow Bitcoin’s recent performance and grasp new all-time highest price levels in 2025.
