Donald Trump’s victory in the 2024 US Presidential Election has created a wave of optimism across the crypto market, leading to soaring prices for various digital assets. Among the most prominent discussions are the potential regulatory shifts under a Republican administration, particularly speculations surrounding the approval of an XRP Exchange-Traded Fund (ETF) in the United States. The prospect of a more crypto-friendly regulatory landscape has many XRP investors and market analysts buzzing with excitement.
Will Trump’s Presidency Pave the Way for an XRP ETF?
Trump’s electoral win has revived hopes for a more favorable approach by US regulators toward the cryptocurrency industry. One of the major points of speculation is the potential firing of US SEC Chair Gary Gensler, as Trump had promised during his campaign. Trump had committed to dismissing Gensler on his first day in office, a statement that has only fueled more speculation about sweeping regulatory changes under his administration.
A Republican-led government is expected to be more open to cryptocurrency advancements, with some even speculating that XRP could finally see the approval of an ETF. Notably, several key players in the financial and crypto sectors, including 21Shares, Bitwise Invest, and Canary Capital, have already filed for XRP ETFs with the US SEC. The recent election results have further raised hopes that these applications could soon be greenlit, potentially reshaping the market landscape.
Ripple CEO and Market Expert Insights
Ripple’s CEO, Brad Garlinghouse, has remained optimistic about the future of Ripple and XRP under a new regulatory framework. He has voiced support for Trump’s pledge to replace Gensler and even proposed potential candidates, such as Chris Giancarlo, Brian Brooks, or Robinhood’s Chief Legal Officer, Dan Gallagher, to take over the SEC chair role. Garlinghouse’s enthusiasm reflects the broader sentiment within the XRP community, which has long awaited regulatory clarity.
Adding to the anticipation, crypto market expert Luke Thomas recently shared his optimistic outlook. In a recent post on X (formerly Twitter), Thomas predicted major developments for Ripple and XRP within the next three to nine months. He expects Ripple to launch its stablecoin, RLUSD, during this period, potentially benefiting from clear stablecoin regulations. He also hinted that BlackRock, a powerhouse in the ETF space, might file for an XRP ETF soon, further boosting investor confidence.
Potential Settlement in the Ripple vs. SEC Lawsuit
Another crucial factor driving market excitement is the potential resolution of the ongoing Ripple vs. SEC lawsuit. Luke Thomas forecasts a possible “settlement” within the next three to nine months, a move that could allow Ripple to sell XRP directly to institutional clients. This development, combined with the possibility of Gensler’s departure from the SEC, could pave the way for Ripple to operate under more favorable conditions.
Speculations have been rampant about Gary Gensler’s possible exit from the SEC, with some reports suggesting he could leave as early as this year. If Gensler were indeed to be replaced, market participants believe that regulatory clarity on XRP’s status could accelerate the approval of an XRP ETF, similar to Bitcoin. Such a shift would not only strengthen Ripple’s market position but also open new opportunities for institutional investments.
XRP Price Analysis and Future Outlook
The ripple effect of Trump’s victory is already being felt in the markets. XRP’s price has risen nearly 5%, currently trading at $0.5563, with trading volume increasing by 6% to $1.99 billion. Furthermore, Futures Open Interest for XRP has surged by approximately 8%, reflecting heightened market focus amid speculations of an XRP ETF launch.
Prominent market figures, such as Bitboy, have shared bullish sentiments about XRP’s potential. Bitboy noted that if Trump fulfills his promise to fire Gensler, XRP could become one of the top-performing assets among the leading cryptocurrencies. Pro-XRP lawyer Bill Morgan has also defended the crypto’s performance, emphasizing that XRP has retained its position in the top 10 despite regulatory headwinds.
Analysts are now eyeing a potential XRP price surge. Recent forecasts suggest a possible 30X rally in the coming days, with some predicting that XRP could target $1.10 before experiencing a significant breakout. The combination of political developments and market trends has set the stage for an exciting chapter for XRP.
Final Thoughts
Donald Trump’s return to the presidency has undeniably sparked hope for regulatory changes that could favor the crypto market, especially XRP. With speculation swirling around the potential firing of Gary Gensler and the approval of an XRP ETF, all eyes are now on the evolving political and regulatory landscape. Investors are optimistic, yet cautious, as they await further developments that could shape the future of Ripple and XRP.
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