XRP has experienced remarkable growth in the past month, surging by an impressive 116.1%. It has outperformed major cryptocurrencies like Bitcoin, Ethereum, Solana, and Dogecoin. However, renowned crypto analyst Velo Maxi advises investors to remain cautious and keep an eye on several critical developments before deciding to sell.
Here’s a closer look at the key events shaping XRP’s future.
On December 17, Ripple introduced RLUSD, its much-anticipated stablecoin. Maxi believes this launch could have a lasting positive impact on XRP’s price. The release has already generated significant excitement within the crypto community, particularly among XRP supporters.
Pro-Crypto candidate Donald Trump defeated Kamala Harris, who represented a crypto-skeptical regime, in the US presidential election. He is set to take the oath as the President of the United States in late January, 2025. The expert notes that if Trump introduces pro-crypto policies, it would positively impact the price of XRP.
Soon after the victory of Donald Trump, Gary Gensler, known for his aggressive stance against the crypto industry, announced his resignation from the post of the SEC chairman. Trump has already named a pro-crypto executive, Paul Atkins, to succeed Gensler. The expert thinks that the leadership change would benefit the entire crypto industry.
Ripple is fighting a tough legal battle against the SEC. Maxi points out that the next SEC leadership could help settle the issue. If this happens, it could push the price of XRP to new heights.
The dominance of Bitcoin currently stands at 58.32%. Once the dominance drops below the level of 50%, it would mark the beginning of an Altseason. The expert asserts that XRP would see significant growth during the Altseason.
Highlighting the fact that Ripple is currently working with financial institutions to promote XRP-based deals, Maxi opines that any major partnership announcement could boost the market value of XRP significantly.
At least four filings seeking approval for the launch of XRP ETFs have been submitted so far. Indicating the possibility for these proposals to receive approval before 2025, Maxi emphasises that the launch of XRP ETFs would pave the way for the entrance of more institutional players into the XRP market.
In conclusion, XRP’s journey is influenced by multiple key events. Velo Maxi advises XRP holders to remain patient and watch these developments closely before deciding their next move.
A settlement in Ripple’s ongoing legal battle with the SEC could significantly increase XRP’s price and market sentiment.
Ripple’s RLUSD stablecoin launch boosts confidence in XRP, creating excitement and potential positive price movement.
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