The recent election of Donald Trump has sparked a wave of optimism across the crypto market, with asset prices rising amid hopes for a pro-crypto regulatory stance. Speculation is building around the potential for an XRP ETF approval in the U.S. under Trump’s leadership, a move that could bring significant momentum to the sector.
XRP ETF Hopes Rise with Trump’s Election
The Republican victory has raised expectations for a crypto-friendly regulatory shift. Major crypto companies like 21Shares, Bitwise Invest, and Canary Capital have filed applications with the SEC for an XRP ETF, adding fuel to hopes that the product could hit the market soon.
Possible Impact of SEC Chair Removal
Crypto expert Luke Thomas predicts that Trump’s term could bring significant changes for Ripple and XRP. Thomas anticipates Ripple’s release of its RLUSD stablecoin within the next 3 to 9 months and suggests that BlackRock might file for an XRP ETF as well, which could further energize the market.
Thomas stated, “Ripple is working on a stable solution for direct XRP sales to institutional clients,” pointing to new strategies emerging for XRP at the institutional level.
XRP Price Outlook and Market Sentiment
Crypto analyst Bitboy anticipates stability in XRP’s price should SEC Chair Gary Gensler be replaced. Attorney Bill Morgan, who supports XRP, notes that while the asset’s performance has remained stable, it has managed to retain its spot in the top 10 cryptocurrencies, indicating robust investor support.
Today, XRP’s price has risen by approximately 5% to $0.5563, with trading volume up 6% to $1.99 billion and futures open interest growing by 8%. This surge in activity shows the market’s interest in a potential XRP ETF approval.
According to recent analyses, XRP’s price could experience as much as a 30x increase. One analyst even suggests that Ripple’s native token may target $1.10, further bolstering the optimistic outlook for XRP’s future.
Ripple CEO Brad Garlinghouse has openly called for Gensler’s removal on Trump’s first day in office, proposing replacements like Chris Giancarlo, Brian Brooks, or Robinhood’s Chief Legal Officer Dan Gallagher.
These developments are fueling hopes for an XRP ETF approval, creating a positive sentiment in the crypto market. With regulatory clarity on the horizon and support from key industry players, market participants are optimistic about a favorable outcome.
For more on the potential impact of these changes, stay tuned to Dey There for expert insights.
XRP ETF, Donald Trump, pro-crypto policies, regulatory clarity, Brad Garlinghouse
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