XRP Price Preparing for 40% Gains amid Trump-Effect Rally

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The mood towards Ripple has noticeably brightened before Donald Trump’s inauguration on January 20th, as cryptocurrency analysts anticipate potential price growth for XRP. With Donald Trump returning to the White House, cryptocurrency market experts are optimistic about a potential regulatory overhaul in the crypto sector, which could further boost Ripple’s performance.

The sentiment toward Ripple has noticeably improved before Donald Trump’s inauguration on January 20th, with analysts predicting possible price gains for XRP. As Donald Trump resumes office at the White House, cryptocurrency experts are hopeful of a potential overhaul in crypto regulations, which could potentially enhance Ripple’s performance further.

Current Price and Key Metrics:
– XRP: $2.25
– 24h volatility: 3.1%
– Market cap: $129.17 B
– Volume (24h): $6.91 B

Moreover, as Paul Atkins assumes control at the SEC this month, experts anticipate an accelerated resolution for the ongoing XRP lawsuit. The value of XRP saw significant growth following Donald Trump’s election win in November. However, after reaching its peak at $2.9 in December, XRP has since been exhibiting a “descending triangle” pattern on its technical chart, indicating a possible downward trend.

According to the image, XRP maintains its position at the lower boundary but struggles to break through the upper trendline, resulting in a smaller increase each time it attempts to do so.

Essentially, if XRP manages to breach its downward sloping resistance line, we might witness a significant jump in value by around 40% and above. This suggests that the positive trend initiated from the troughs at about 50 cents during early November could persist.

Additionally, the positive public opinion about XRP is significant. According to blockchain analytics firm Santiment, there’s a “heightened sense of positivity” regarding XRP, fueled by social media discussions and market opinions. This optimism toward XRP even surpasses that of Bitcoin and Ether:

– Bitcoin: $92,135, 24h volatility: 3.3%, Market cap: $1.82 T, 24h volume: $51.52 B
– Ether: $3,242, 24h volatility: 3.4%, Market cap: $390.95 B, 24h volume: $31.98 B

After Donald Trump’s presidency began, XRP experienced a significant increase of over 300%, rising faster than other leading cryptocurrencies. This surge can largely be linked to the anticipation of a crypto-friendly regulatory climate under Trump’s administration. This includes potential advantages for domestic crypto companies, like Ripple Labs – the organization closely tied to XRP.

Ripple’s Growing Investment in US Market and XRP Action

After four years since Donald Trump’s initial presidency, Ripple Labs is again aiming to broaden its market presence. Brad Garlinghouse, CEO of Ripple, expressed last week that the new administration signifies an end to prolonged regulatory ambiguity. He also mentioned that this change brings forth fresh domestic possibilities that were previously restricted under the previous government.

As an analyst, I’ve observed an intriguing trend in the recent performance of Ripple Labs: They managed to secure more U.S. deals during the final six weeks of 2024 compared to the preceding six months. This striking uptick could be attributed to what I’m calling the “Trump effect,” hinting at a positive impact on local business prospects under this administration.

During a recent interview on Tuesday, Ripple’s President, Monica Long, expressed optimism about the possibility of an XRP-based Exchange Traded Fund (ETF) becoming a reality. She believes that the upcoming Trump administration might institute more lenient cryptocurrency regulations, potentially paving the way for such a development.

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2025-01-09 17:01