Weekly outlook | XRP rocking the US election

Fundamental data:

Bitcoin (BTC) rallied past the USD 99,000 amid SEC leadership changes, with Gensler’s exit and Lizárraga’s resignation fueling speculation of crypto-friendly policies under Trump and Hester Peirce potentially taking over as SEC chair. Ethereum (ETH) saw a dormant whale take profits after holding 398,889 ETH since 2016 at USD 6.00. Solana (SOL) hit a new high of USD 265.00, bouncing back from its 2021 crash, while XRP surged 25% as the SEC may not appeal after Gensler’s departure, triggering broader market enthusiasm.

BTC

BTCUSD shows a potential upside breakout at USD 99,660 on the 4HR chart, driven by SEC Chair Gensler’s exit and optimism around Trump’s crypto-friendly policies.

If the breakout holds, BTC could aim for USD 106,415; however, a failed breakout may push the price down to USD 92,500, shaped by the Shanghai court’s ruling legalizing crypto transactions, expectations around the incoming SEC chair, and market optimism over Trump’s pro-crypto stance.

ETH

ETHUSD is showing a potential upside breakout from a falling trend at USD 3,400.00, fueled by a dormant billion-dollar whale taking profits after holding 398,889 ETH at USD 6.00, along with the SEC Chair and Commissioner’s departures adding bullish momentum.

If the breakout holds, a rally towards USD 4,200.00 is likely, but failure could lead to a pullback to USD 3,100.00, influenced by Ethereum’s ecosystem, with rising institutional investments, growing ETF interest, and higher transaction volumes fueling price action. The current trend remains bullish and the positive market sentiment might continue.

XRP

XRPUSD keeps pushing higher and is nearing the psychological resistance zone at USD 1.60 on the weekly chart, driven by a shift in the US regulatory landscape, fueled by expectations of President-elect Donald Trump’s administration. In particular the regulatory trouble has seemingly paid out well for XRP with the recent strong appearance after the election.

If the breakout sustains, the price could rally toward USD 2.10, but a failed breakout might trigger a drop to USD 1.18, driven by speculation that the SEC may forgo an appeal following Gensler’s departure. However, the positive market sentiment should support the positive momentum.

SOL

SOLUSD is eyeing a potential breakout above the USD 260.00 resistance on the weekly chart, fueled by a recovery sparked by Trump’s crypto-friendly policies and the meme coin frenzy, reversing the collapse that saw prices plunge to USD 8.00 under two years ago post-FTX.

If the breakout holds, the price could surge to USD 380.00, but a failed breakout might push it down to USD 200.00, driven by increasing speculation surrounding a Solana-based ETF, as the SEC is reportedly in discussions with asset managers about launching a spot Solana ETF.

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