Analysts predict a 40% surge in XRP prices with the resumption of Donald Trump’s presidency, as they anticipate a favorable shift in crypto regulations.
By Bhushan Akolkar
Edited by Julia Sakovich
Updated
2 mins read
The sentiment surrounding Ripple has improved significantly before Donald Trump‘s oath-taking on January 20, as analysts predict another 40% XRP XRP $2.58 24h volatility: 8.6% Market cap: $148.09 B Vol. 24h: $6.76 B price gains in the near future. With Donald Trump resuming office at the White House, crypto market analysts are hopeful of a crypto regulatory overhaul.
Furthermore, with Paul Atkins taking the reigns of the SEC this month, analysts are projecting a faster settlement of the XRP lawsuit. XRP price witnessed a strong surge following Donald Trump’s victory in November. However, after hitting the high of $2.9 in December, XRP has been moving sideways in a “descending triangle” pattern on the technical chart.
As shown in the below image, XRP continues to hold support at the bottom while facing rejection at the upper trendline leading to a shallower price bounce each time.
Photo: TradingView
In other words, if XRP breaks above the descending upper trendline, it could experience a surge of 40% or more. This indicates a continuation of the bullish momentum that began from the early November lows of around 50 cents.
Furthermore, the social sentiment surrounding XRP is also strong. Blockchain analytics platform Santiment reported that there’s an “increased level of optimism” toward XRP, driven by social media posts and market commentary – surpassing that of Bitcoin BTC $96 657 24h volatility: 6.2% Market cap: $1.91 T Vol. 24h: $59.10 B or Ether ETH $3 220 24h volatility: 5.3% Market cap: $387.10 B Vol. 24h: $35.64 B .
Since Trump’s election, XRP has surged over 300%, outpacing other major cryptocurrencies. This growth is largely attributed to expectations of a crypto-friendly policy environment under Trump, which includes more favorable regulatory pathways for local crypto businesses, such as Ripple Labs, the firm closely associated with XRP.
With Donald Trump resuming Presidency four years after his first term, Ripple Labs is once again looking to expand its footprint in the market. Ripple CEO Brad Garlinghouse stated last week that the incoming administration marks the end of years of regulatory uncertainty. It also unlocks new domestic opportunities that were previously “frozen” under the previous government, he added.
Ripple Labs announced that it signed more US deals in the final six weeks of 2024 than in the preceding six months, highlighting a clear “Trump effect” on local business prospects.
In a Tuesday interview, Ripple President Monica Long suggested that an XRP exchange-traded fund (ETF) could soon be a reality, as the incoming Trump administration is perceived to bring more favorable crypto regulations.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
