Analyst Identifies Crucial Events That Could Propel XRP’s Subsequent Price Surge

Byadmin

Dec 7, 2024
Analyst Identifies Crucial Events That Could Propel XRP's Subsequent Price SurgeAnalyst Identifies Crucial Events That Could Propel XRP's Subsequent Price Surge

The recent price correction of XRP, following its significant rally, has raised questions among market participants about whether they should secure their profits now.

TheXRPguy, an analyst, has identified several key factors suggesting that holding onto XRP for a longer period could result in further gains. He believes that more substantial price rallies are on the horizon and has highlighted seven significant events that could drive XRP’s value even higher.

One of the first major developments to watch out for is the launch of RLUSD, a stablecoin backed by the U.S. dollar, which is expected to be introduced on the XRP Ledger. This event is seen as a catalyst that will inject fresh liquidity into the ecosystem, potentially boosting XRP’s price. Another potential trigger is the inauguration of Donald Trump in January 2025. Given Trump’s supportive stance on cryptocurrencies, his return to the White House could bring a positive outlook for digital currencies, including XRP.

Additionally, TheXRPguy points out the departure of SEC Chairman Gary Gensler, which is set to coincide with Trump’s inauguration. Gensler’s exit could create a more favorable environment for Ripple, as he played a prominent role in the SEC’s lawsuit against the company, a development that has negatively affected XRP’s price. If the Ripple case is resolved with Gensler’s departure, it could mark a turning point for XRP.

The analyst also predicts that XRP’s future will benefit from other events, such as the ongoing altcoin season, which is already displaying positive signs for XRP. Ripple could also experience significant institutional adoption through a new partnership with a large bank, further driving demand for XRP. Lastly, the approval of an XRP ETF could bring additional momentum to the coin’s price. Several firms, including Bitwise and WisdomTree, have applied for an XRP ETF, and with the current regulatory landscape evolving, approval may be imminent.

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