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News - XRP comeback after election: this is how Ripple benefits
The Ripple token is making an impressive comeback after a long period of weakness. The victory of "Crypto President" Donald Trump offers XRP investors new hope.
In this article you will read:
Why Trump's victory portends a positive future for Ripple
How likely the launch of XRP ETFs is as early as 2025
What the new Ripple strategy could mean for the price of XRP
For the first time since the peak mini-bull run in March, XRP broke through the $0.70 mark. Ripple owes this recovery mainly to the man who will re-enter the White House from January 2025: Donald Trump. Under the Republican, a change in direction is expected at the U.S. Securities and Exchange Commission (SEC), a regulator seen as crypto-hostile under current chairman Gary Gensler. The XRP share price has suffered particularly in recent months, with some critics frequently making the comment that the token looked more like a stablecoin.
.@realDonaldTrump, Congratulations!
— Brad Garlinghouse (@bgarlinghouse) November 6, 2024
Some fodder for your first 100-day checklist to get things moving:
- Fire Gensler. Day 1, no delays.
- In his place, appoint Giancarlo, Brooks, or Gallagher – they’d be massive upgrades in rebuilding the rule of law (and reputation) at the…
Ripple versus SEC: a new chapter
The legal battle between Ripple Labs and the SEC has been going on since December 2020. In August, Ripple appeared to win a major victory: the company was fined $125 million, significantly less than the $2 billion originally demanded by the SEC. Ripple CEO Brad Garlinghouse celebrated this as a victory for the crypto sector. Still, the SEC hit back with an appeal against parts of the ruling.
More evidence of SEC hypocrisy.
— Brad Garlinghouse (@bgarlinghouse) July 30, 2024
Chair Gensler testifies the rules are clear, yet his SEC can't figure them out and applies them haphazardly, festering more industry confusion.
A political agenda and/or bad faith litigation tactics. Def not a “faithful allegiance to the law". https://t.co/iX8IdvaW92
With Gensler's departure, which Trump favors, this lingering case may come to an end. According to legal experts, a new leadership at the SEC will be less hostile to crypto companies. This could pave the way for innovation and new products, such as an XRP ETF.
The opportunities for an XRP-ETF
In October, Bitwise filed for the first U.S. XRP index fund. Other companies, such as Canary Capital, quickly joined the race for a spot ETF for Ripple. Experts see a growing possibility after Trump's victory that these products could be approved as early as 2025, which could have a significant impact on XRP's share price.
In order to have an $XRP spot ETF, there will first need to be a futures ETF.
— Eleanor Terrett (@EleanorTerrett) January 27, 2024
Part of getting the $BTC spot ETFs approved was the @SECGov concluding that the CME bitcoin futures market would suffice to provide surveillance for fraud and manipulation.
If $XRP gets a futures ETF… https://t.co/MPFVSherXK
XRP's growth and uncertainties
Although XRP has risen nearly 30% since the election, uncertainties remain. Ripple Labs appears to be diversifying its strategy by developing its own stablecoin, RLUSD. This could represent a shift in priorities. Still, the launch of an XRP ETF and a more favorable regulatory environment could give the token a big boost.
For investors, the future of XRP is unpredictable, but with potential SEC reform and more institutional products on the horizon, the possibility of another spike remains real.
