Donald Trump’s victory in the 2024 U.S. presidential election has generated a wave of optimism in the cryptocurrency market. This positive sentiment is particularly evident through the rise in asset prices. Speculations regarding the potential approval of an XRP ETF during Trump’s administration have gained momentum.
Expectations for XRP ETF Approval During Trump’s Term
The Republican victory has led to expectations that regulators will adopt a more crypto-friendly approach. During this period, major crypto firms such as 21Shares, Bitwise Invest, and Canary Capital have submitted XRP ETF applications to the U.S. Securities and Exchange Commission (SEC). These developments are heightening the anticipation of the ETF being launched in the near future.
SEC Chairman’s Potential Dismissal Could Impact Crypto
Crypto expert Luke Thomas predicts significant changes in Ripple 
$1 and XRP during Trump’s presidency. Thomas states that Ripple is likely to launch its stablecoin, RLUSD, within the next 3 to 9 months. Additionally, there is speculation that BlackRock may also file for an XRP ETF, which could create a new wave of market activity.
According to Thomas, “Ripple is making progress toward developing a stable solution for direct XRP sales to institutional clients.” These statements indicate new corporate-level strategies for XRP.
Price Outlook for XRP
Crypto analyst Bitboy anticipates stability in XRP’s price if Gary Gensler is dismissed. XRP-supporting attorney Bill Morgan argues that despite its stagnant performance, the asset has managed to remain among the top 10 cryptocurrencies. These comments suggest a potential increase in XRP’s price.
Currently, XRP’s price has risen by approximately 5%, reaching $0.5563. Trading volume has increased by 6% to $1.99 billion, and futures open interest has risen by 8%. This activity indicates that speculation surrounding the XRP ETF launch is generating interest in the market.
Recent analyses suggest there is a possibility of a 30-fold increase in XRP’s price. One analyst forecasts that Ripple’s native token could target the $1.10 level. These predictions support a positive outlook for XRP’s future.
Ripple CEO Brad Garlinghouse has publicly called for the removal of SEC Chairman Gary Gensler on the first day of Trump’s presidency. Garlinghouse proposed Chris Giancarlo, Brian Brooks, or Dan Gallagher from Robinhood as potential replacements.
These developments are increasing the likelihood of XRP ETF approval while fostering overall optimism in the crypto market. With expectations for regulatory clarity and support from leading crypto players, market participants are hopeful for positive progress.
