Donald Trump’s victory in the 2024 US Presidential elections has created a general mood of optimism in the crypto market. This positive atmosphere is especially evident with the increase in asset prices. Speculation that an XRP ETF approval might occur in the United States gained momentum during the Trump administration.
Trump Era Expectations for XRP ETF Approval
The Republican election victory raised expectations that regulators would shift to a crypto-friendly approach. During this period, major crypto companies such as 21Shares, Bitwise Invest and Canary Capital applied for XRP ETF to the US Securities and Exchange Commission (SEC). These developments increase the expectation that the ETF may be launched in the near future.
SEC Chairman Gary Gensler’s Dismissal May Affect Crypto
Crypto expert Luke Thomas on Ripple during Trump’s presidency 
$0.552813 and predicts significant changes in XRP. Thomas states that Ripple will launch its stablecoin called RLUSD in the next 3 to 9 months. He also expects BlackRock to apply for an XRP ETF. These potential developments could create a new fluctuation in the market.
According to Thomas, “Ripple is on track to develop a stable solution for selling XRP directly to institutional customers.” These statements point to new institutional-level strategies for XRP.
Expectations for XRP’s Price
Crypto analyst Bitboy expects XRP price stability if Gary Gensler is dismissed. Lawyer Bill Morgan, who supports XRP, argues that although the asset’s performance appears stable, it has managed to remain among the top 10 cryptos. These comments point to a potential increase in XRP price.
Today, XRP price is up about 5% to $0.5563. Transaction volume increased by 6% to 1.99 billion dollars, and futures open interest increased by 8%. This activity shows that speculation about the launch of the XRP ETF is generating interest in the market.
According to the latest analysis, there is a possibility of up to 30x increase in XRP price. One analyst predicts that Ripple’s native token could target the $1.10 level. These predictions support positive expectations for the future of XRP.
Ripple CEO Brad Garlinghouse publicly called for SEC Chairman Gary Gensler to be dismissed on Trump’s first day as president. Garlinghouse suggested replacing him with Chris Giancarlo, Brian Brooks or Robinhood Chief Legal Officer Dan Gallagher.
While these developments increase the likelihood of the XRP ETF being approved, they also create general optimism in the crypto market. With both the expectation of regulatory clarity and the support of leading crypto players, market participants are of the view that developments will move in a positive direction.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
