Could Trump’s Victory Send This Altcoin Soaring? Next Resistance at $0.66!

Last updated: November 6, 2024 10:40 am

Published November 6, 2024

As the U.S. presidential election continues, XRP is experiencing significant price fluctuations, with analysts predicting major impacts on the crypto market depending on the outcome. Notable crypto analyst Ran Neuner suggests that the election could lead to substantial movements in Bitcoin and altcoins, potentially creating volatility across digital assets.

Contents

XRP Price Outlook as Election Results Unfold
Potential Impact of Trump’s Victory on Ripple
Investors Should Watch for Key Market Trends

XRP Price Outlook as Election Results Unfold

With Trump’s recent win in Georgia, his chances of securing the presidency have skyrocketed to 99%, according to Polymarket. This development has helped Bitcoin push towards new all-time highs, creating a positive impact on XRP and other altcoins. XRP’s recent price activity is seen as a break from its downtrend, hinting at a possible long-term upward trajectory.

For XRP, the next key resistance lies at $0.56. If XRP surpasses this level, it could see a 24% increase, targeting $0.66. This level represents the upper boundary of XRP’s recent trading range and could mark a new yearly high if breached.

Potential Impact of Trump’s Victory on Ripple

A Trump victory could lead to leadership changes at the SEC, potentially creating a more favorable regulatory environment for Ripple. With Trump in office, “Crypto Mom” Hester Peirce is anticipated to replace Gary Gensler as SEC Chair, which could bring increased regulatory flexibility to the crypto sector.

Additionally, under a Trump administration, crypto ETFs may gain wider acceptance. Firms like Bitwise and Canary Capital have already applied for XRP and Solana ETFs, and pro-crypto government support could enhance the likelihood of these funds receiving approval.

Investors Should Watch for Key Market Trends

With the 2024 U.S. election expected to have significant ramifications for the crypto industry, investors should closely monitor price movements in XRP and other digital assets. The potential for market-shaping regulatory changes makes this a pivotal period for the crypto community.

XRP, crypto market, Ripple, SEC, crypto ETFs

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ByMilena Volodina

Milena Volodina is a blockchain strategist and cryptocurrency expert with 9 years of experience in the industry. With a background in finance and technology, Milena has worked on numerous blockchain projects, including the development of decentralized finance (DeFi) platforms and blockchain-based financial services. Her expertise in both the technical and financial aspects of blockchain technology allows her to provide a comprehensive view of the industry. At DT NEWS, Milena offers readers expert analysis and insights into the latest trends and innovations in the blockchain and cryptocurrency world, ensuring they stay informed about key developments.