Crypto
XRP Hits Annual High: ETFs on the Horizon as Ripple Stays Optimistic
Dogecoin and XRP prices have surged following Trump’s election, with Dogecoin boosted by Elon Musk’s appointment to a new government role. Ripple’s XRP anticipates ETF approval in 2025, bolstered by Trump’s pledge to replace SEC Chair Gary Gensler with a crypto-friendly leader. Analysts predict strong growth for XRP, with Trump’s policies fueling optimism for crypto markets.
Ripple (XRP) is experiencing a week of mixed news on the stock market: On the one hand, Dogecoin (DOGE) has overtaken XRP in terms of market capitalization and is now ranked 6th among the most important cryptocurrencies. On the other hand, however, Ripple is pleased that the price curve of XRP, with a weekly increase of around 23 percent, temporarily broke the 0.73 US dollar mark and thus set a new annual high.
Both Dogecoin and XRP have been influenced by Donald Trump’s election victory in their price development. In the case of DOGE, it is the appointment of superfan Elon Musk as head of a new task force called the Department of Government Efficiency, which Trump announced and how Dogecoin is given the abbreviation DOGE. Ripple, on the other hand, can expect XRP ETFs to be approved on the US market in 2025, according to many observers.
Gary Gensler’s days at the head of the SEC are numbered
The future US President Donald Trump also plays a central role here. He has announced that he will replace SEC head Gary Gensler. Under Gensler’s leadership, the SEC, as the stock exchange regulator, sued Ripple and XRP and even initiated an appeal after two court defeats. Trump wants to award the SEC chairmanship to a crypto-friendly person. This would clear the way for an end to the legal dispute between the SEC and Ripple over XRP. This should also significantly increase the chances for XRP ETFs, for which three applications have already been submitted to the SEC.
“The market is putting all its chips on the table for the approval of XRP ETFs and a less hostile SEC,” says analyst Pav Hundal of Swyftx, commenting on the situation. He points out that trading volume in XRP has grown tenfold since Trump’s election victory. Analyst Ryan Lee of Bitget Research, meanwhile, has already set the price target for XRP at $0.86 by the end of the year.
Conclusion: Ripple and XRP benefit from Trump’s comeback
Donald Trump’s return to the White House will be formally completed on January 20th. He has identified the US crypto industry as a sector for economic growth and new jobs, and a state Bitcoin reserve was also part of Trump’s election campaign.
This fuels fantasies for large altcoins, especially when they originate in the USA like XRP or Solana (SOL). So far, only Bitcoin and Ethereum are traded individually as ETFs on the US stock exchanges, and BTC ETFs in particular are attracting huge interest and a corresponding inflow of capital. Ripple CEO Brad Garlinghouse considers XRP ETFs to be “inevitable” – the crypto markets are probably of the same opinion.
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(Featured image by salesblog_at via Pixabay)
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