Ripple (XRP) Price Prediction: Will the Pro-Crypto Trump Administration Favor XRP?

Ripple may see significant benefits under the pro-crypto administration of Donald Trump and the new U.S. Securities and Exchange Commission (SEC).

Ripple might be seeing the light at the end of the tunnel with the pro-crypto administration of Donald Trump and the new U.S. Securities and Exchange Commission (SEC). Former SEC Chair Gary Gensler was replaced by acting Chairman Mark Uyeda, while Paul Atkins awaits Senate confirmation as the permanent chair, Reuters noted.

The ongoing lawsuit between Ripple and the SEC, which pertains to XRP token sales, might be taking a favorable turn for cryptocurrencies with this new leadership. The SEC previously attempted to overturn Judge Analisa Torres’ decision that XRP is not a security when sold to retail investors.

With Uyeda at the helm, Ripple supporters are expecting a more crypto-friendly approach, which could lead to the approval of an XRP-based exchange-traded fund (ETF).

Ripple’s Political Ties, Focus on U.S. Market

Interestingly, Ripple has shown strong support for the Trump administration. The company contributed a significant amount to Trump’s inauguration fund, outpacing other major U.S. crypto firms like Coinbase and Kraken, whose donations were included in the total of $200 million.

Ripple advertisements were also spotted in various locations around Washington, leading to speculation that XRP might be prioritized as a “Made in the U.S.” altcoin under Trump’s leadership.

🚨 ALL THESE NEW RIPPLE ADS HAVE BEEN SPOTTED IN WASHINGTON D.C. 👀 THIS CAN‘T BE COINCIDENTIAL, RIGHT? THEY WERE INTENTIONALLY PLACED THERE… 😏 #XRP pic.twitter.com/Rl64jdxpkF

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Read More: XRP Price Prediction for January 21: Market Sentiment and Forecast

XRP Price Analysis: Breakout Possible Despite Recent Drop

XRP is notably expected to breakout soon and was trading at $3.04 at the last glance, down 2.02% over the past 24 hours as Trump did not mention crypto in his inaugural speech. However, the digital asset is up 20.05% in the past week and 37.46% over the last 30 days.

More: Whales Snap Up 100M XRP, Igniting a Surge and Rewriting Price Trends

XRP’s price action is in the bullish region of the Bollinger Bands, indicating a potential breakout after a failed attempt earlier this week. The Relative Strength Index (RSI) is at 62.20, showing strong demand for XRP and suggesting a possibility of reaching new all-time highs soon.

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