Over the past month, XRP has experienced an extraordinary surge of over 116.1%, outpacing major cryptocurrencies such as Bitcoin, Ethereum, Solana, and Dogecoin. This remarkable growth has attracted the attention of investors and analysts alike. Renowned crypto analyst, Velo Maxi, advises XRP holders to monitor a few pivotal events that could further influence the token’s value. Let’s delve into these key developments and their potential impact on XRP’s future.
Ripple’s RLUSD Launch Boosts Confidence
On December 17, Ripple made waves in the crypto community with the launch of its stablecoin, RLUSD. This strategic move is expected to have a positive impact on XRP’s price. The introduction of RLUSD has generated significant excitement, particularly among XRP enthusiasts, who believe it could lead to increased adoption and utility of XRP within the financial sector.
Trump’s Presidency Could Favor Crypto
The recent U.S. presidential election saw pro-crypto candidate Donald Trump defeat Kamala Harris, who was known for her cautious stance on digital currencies. As Trump prepares to take office in January 2025, there is speculation that his administration might introduce policies favorable to the crypto industry. Such developments could potentially boost XRP’s market value, as investor sentiment towards cryptocurrencies becomes more optimistic.
SEC Leadership Changes to Impact XRP
Following Trump’s election victory, Gary Gensler, the outgoing SEC chairman known for his stringent regulatory approach towards cryptocurrencies, announced his resignation. Trump has selected Paul Atkins, a pro-crypto executive, to succeed Gensler. This leadership change at the SEC could herald a more lenient regulatory environment, benefiting XRP and the broader cryptocurrency market.
Possible Settlement of Ripple-SEC Legal Case
Ripple is currently embroiled in a challenging legal dispute with the SEC. However, Velo Maxi suggests that the incoming SEC leadership could facilitate a resolution to this ongoing battle. A favorable settlement could remove significant legal uncertainties surrounding XRP, potentially driving its price to unprecedented levels.
Altcoin Season Could Drive XRP Growth
Bitcoin’s dominance currently stands at 58.32%. Analysts predict that a decline below 50% could signal the onset of an “Altseason,” where altcoins experience substantial growth. Velo Maxi asserts that during such a period, XRP could see notable price increases, as investors shift their focus towards alternative cryptocurrencies.
Ripple’s Upcoming Partnerships
Ripple’s ongoing collaborations with financial institutions to promote XRP-based solutions are generating optimism among investors. Velo Maxi believes that any significant partnership announcements could substantially enhance XRP’s market value by increasing its adoption and usage in real-world applications.
Potential XRP ETF Approval
To date, at least four applications have been submitted for the approval of XRP Exchange-Traded Funds (ETFs). Velo Maxi highlights the possibility of these proposals receiving regulatory approval before 2025. The launch of XRP ETFs could attract more institutional investors to the XRP market, further solidifying its position in the crypto ecosystem.
