Analyst Highlights Key Events That Could Fuel XRP’s Next Price Surge
07.12.2024 14:00 2 min. read Kosta Gushterov
The recent correction in XRP's price, following its explosive rally, has left many market participants wondering whether they should lock in profits now.
Analyst TheXRPguy has outlined several key factors suggesting that holding onto XRP for a while longer could yield further gains. He believes that more significant price rallies are on the horizon and has highlighted seven key events that could drive XRP’s value up even further.
One of the first major developments to watch for is the launch of RLUSD, a stablecoin backed by the U.S. dollar, which is expected to launch 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. With Trump’s pro-crypto stance, his return to the White House could bring a positive outlook for cryptocurrencies, including XRP.
Additionally, TheXRPguy points to the departure of SEC Chairman Gary Gensler, which is set to coincide with Trump’s inauguration. Gensler’s exit could lead to a more favorable environment for Ripple, as he was at the forefront of the SEC’s lawsuit against the company, a development that has negatively impacted 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 showing positive signs for XRP. Ripple could also see major institutional adoption through a new partnership with a large bank, further driving demand for XRP. Lastly, the approval of an XRP ETF could add even more momentum to the coin’s price.
Multiple firms, including Bitwise and WisdomTree, have filed for an XRP ETF, and with the current regulatory landscape shifting, approval may be on the cards in the near future.
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