In an intriguing development for the cryptocurrency sector, renowned crypto analyst Ben Armstrong, popularly known as BitBoy, has made a bold prediction regarding XRP. Armstrong suggests that the value of XRP could experience a significant rise if the newly elected President Donald Trump fulfills his campaign promise to dismiss SEC Chair Gary Gensler. Trump’s favorable stance towards cryptocurrencies has already caused ripples in the market, with Bitcoin climbing above $76,400 following his electoral victory. Alongside, XRP has witnessed an upward trend, reaching its highest point in 30 days at $0.5739. With the evolving political landscape, XRP seems poised for further growth. Let’s delve deeper into this scenario.
Why XRP Price Could Be Poised for a Big Move
BitBoy’s analysis hinges on the ongoing SEC lawsuit that has long overshadowed XRP’s market performance. This legal battle has led many within the XRP community to identify Gensler as a significant hindrance to the asset’s full potential. Armstrong argues that if Trump removes Gensler from his position, it could pave the way for XRP to ascend among the top-performing cryptocurrencies. During the 2021 bull market, some XRP holders believe that the SEC’s actions inhibited the token from reaching new peaks. With Gensler potentially out of the picture, BitBoy envisions a unique chance for XRP to spearhead a fresh growth cycle, reminiscent of the astronomical gains observed during the 2017 bull run.
Skeptics Remain Doubtful of XRP’s Pump Potential
Despite the optimistic forecasts, not everyone is convinced of BitBoy’s positive outlook. Several voices in the crypto community, such as X user Erik Huisman, are skeptical about the notion that Gensler’s removal would have a profound impact on XRP’s price. Critics contend that XRP has already navigated the regulatory challenges posed during the SEC lawsuit and is currently operating within a more favorable regulatory environment, thereby diminishing the necessity for a dramatic catalyst.
Can XRP Mirror the 2017 Surge, Post Trump’s Win?
As Donald Trump’s presidency looms on the horizon, there is increasing speculation about the fate of SEC Chairman Gary Gensler. Some anticipate that Gensler might choose to resign voluntarily rather than be ousted. Within the crypto community, there is a prevailing hope that Trump’s policies could provide a boost to the market, particularly by alleviating regulatory pressures. Should Trump proceed with the removal of Gensler, proponents of XRP believe it could ignite a substantial price rally.
Nevertheless, skepticism persists regarding the likelihood of this scenario materializing and its potential impact on XRP’s valuation. BitBoy’s assertion that XRP could experience a significant surge if Gensler is dismissed is garnering attention, fueling excitement among crypto enthusiasts. With Trump poised to assume office, the focus shifts to the SEC and the potential implications these changes might have on the cryptocurrency landscape.
With initial public offerings (IPOs) and stablecoins on the horizon for the upcoming year, many are pondering whether this is an opportune moment to invest in XRP. We invite you to share your thoughts and perspectives on this evolving situation.
