Is XRP ETF Launch Imminent Under Trump Administration?

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As a seasoned financial analyst with over two decades of experience in the stock market and crypto industry, I find myself intrigued by the optimistic outlook for XRP following Donald Trump’s victory in the 2024 US Presidential Election. The prospect of potential XRP ETF approval under a Republican administration, combined with the possibility of Gary Gensler’s exit from the SEC, has ignited a flurry of excitement among market participants.

The election win of Donald Trump for U.S. President in 2024 has ignited optimism among many crypto investors, as seen by the rising values of digital assets. Moreover, there’s increased chatter about a possible approval for an XRP Exchange-Traded Fund (ETF) within the United States under a Republican government. Furthermore, a well-respected market analyst has suggested that the Ripple and XRP markets could experience significant growth during Trump’s term in office.

Will Donald Trump’s Victory Pave The Way For XRP ETF Approval?

The Republican win in the election has ignited discussions about a possible lenient stance on cryptocurrency regulation. Furthermore, many market supporters are speculating that Donald Trump may dismiss Gary Gensler from his position as US SEC Chair shortly after taking office, given his previous comments during his campaign earlier this year that he would fire Gensler.

This action has ignited debates about the possibility of an XRP-focused ETF being approved in the United States. Interestingly, major entities such as 21Shares, Bitwise Invest, and Canary Capital have previously submitted ETF applications to the U.S. Securatory Commission (SEC) before the election, leading to conjecture about a potential launch within the near future.

Furthermore, Brad Garlinghouse, CEO of Ripple, maintained a positive outlook regarding a comparable regulatory decision. At the same time, crypto market expert Luke Thomas foresees possible advancements within the Ripple and XRP market over the subsequent 3-9 months.

In a recent update on platform X, Thomas stated that Ripple is planning to introduce its stablecoin RLUSD within this specified period, provided there are clear regulations for such digital currencies in the country. Furthermore, he anticipates that BlackRock, a major player in ETFs, may apply for an XRP Exchange-Traded Fund (ETF) with the United States Securities and Exchange Commission (SEC). This statement has ignited optimism within the market, suggesting a possible introduction of this investment tool in the U.S.

Will US SEC Chair Gary Gensler’s Exit Boost Market Sentiment?

Luke Thomas anticipates a possible resolution in the legal dispute between Ripple and the Securities and Exchange Commission within the coming three to nine months. Furthermore, he speculates that this settlement might open up an opportunity for Ripple to offer XRP for sale directly to major financial institutions.

Significantly, there’s been a wave of optimistic expectations, fueled by increasing speculation about Gary Gensler’s departure from the U.S. Securities and Exchange Commission (SEC). In a recent post on social media platform X, Ripple CEO Brad Garlinghouse urged President Donald Trump to dismiss Gensler immediately upon taking office. Moreover, he proposed Chris Giancarlo, Brian Brooks, or Dan Gallagher (Chief Legal Officer of Robinhood) as potential replacements for the current SEC Chair.

It’s been suggested that Gensler, currently at the U.S. Securities and Exchange Commission (SEC), might step down this year. If this happens, it could potentially simplify the approval process for an XRP Exchange Traded Fund (ETF) in the U.S., as there has been regulatory clarity on the status of XRP, similar to Bitcoin.

What’s Next For XRP Price?

Bitboy, a well-known figure in the crypto market, stated that if President Trump removes Gary Gensler from office, the price of XRP could potentially rise among the leading 100 cryptocurrencies, generating optimism within the market. Furthermore, lawyer Bill Morgan, who supports XRP, explained that although its performance has been sluggish, it continues to hold a top 10 position within the crypto market.

Currently, the value of XRP has increased by almost 5% to reach $0.5563. Additionally, its trading volume has also risen by approximately 6% to $1.99 billion. This surge is accompanied by an increase in Futures Open Interest by around 8%. This upward trend suggests that there’s a growing market interest towards XRP as speculations about the potential launch of an XRP ETF continue.

Additionally, a current examination of XRP prices suggests a possible 30-fold increase in the near future. Corroborating this viewpoint, a prominent analyst anticipates that Ripple’s native cryptocurrency will reach $1.10 initially and then experience a significant surge.

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2024-11-07 12:00