With the arrival of Donald Trump in the White House and the resignation of Gary Gensler as chairman of the US Securities and Exchange Commission (SEC), a new chapter is opening for the crypto sector. Ripple (XRP), in particular, which was in conflict with the SEC for years, seems to benefit from this fresh political wind. What could this mean for XRP in the coming years?
Ripple (XRP) now has the wind at its back
Under Gensler’s administration, XRP was classified as a security by the SEC, leading to protracted legal battles and limited adoption by US exchanges. With Gensler’s departure and the appointment of Mark Uyeda as the new SEC chairman, combined with a pro-crypto stance from the Trump administration, analysts expect pressure on XRP to ease. This would pave the way for greater institutional adoption.
A possible catalyst for XRP could be the launch of an XRP Spot ETF. Following the approval of Bitcoin and Ethereum ETFs in the US, XRP could be the next candidate. This would significantly increase XRP’s liquidity and attract more institutional investors. Major funds such as BlackRock and Fidelity are mentioned as potential players in this scenario, provided regulations ease.
Technical indicators predict a possible price target of $4.40
Technical analysts point to a clear bullish trend for XRP. If the current bull flag pattern plays out, XRP could reach a price target of $4.40. In the meantime, the big investors, or whales, are not left out: more than 100 million XRP was bought in just 48 hours. This points to growing confidence among institutional investors.
Ripple and political influence
A striking detail is that Ripple CEO Brad Garlinghouse was recently spotted having dinner with Donald Trump. This has fueled speculation about Ripple’s potential influence on future crypto regulations in the US. Should the new government maintain its pro-crypto stance, XRP could emerge as one of the biggest winners in this political shift.
Claim €10 free today and pay no trading fees on the first €10,000!
Grab this unique opportunity with Newsbit and Bitvavo by creating an account now via the button below. Deposit just €10 and immediately receive €10 free. In addition, you can trade your first €10,000 in trades for 7 days without any fees. Start today and benefit immediately from the growing popularity of crypto!
Create your account and claim your €10 free.
Don’t miss this opportunity to immediately benefit from the growing popularity of Crypto!
Source: https://newsbit.nl/nieuwe-politieke-kansen-kan-ripple-xrp-naar-440-stijgen/
