Market Updates and Current Sentiment
Market watchers are increasingly focused on capitalizing on profits, especially as XRP’s recent surge has given way to a pullback.
Analyst TheXRPguy has pinpointed seven important factors that might persuade investors to hold off on selling, hinting that a recovery could be on the horizon.
In a recent update shared on X, TheXRPguy conveyed a sense of optimism about XRP’s future, detailing seven pivotal developments that investors should keep an eye on before making any decisions about liquidating their investments.
One of the most significant events is the upcoming launch of RLUSD, a stablecoin linked to the dollar that’s set to make its debut on the XRP Ledger (XRPL).
This launch is expected to happen soon, coinciding with Ripple’s strides toward regulatory approval in New York, and could usher in greater liquidity within the XRP ecosystem.
Political Changes and Cryptocurrency Regulation
Another major point raised was Donald Trump’s forthcoming inauguration on January 20 next year.
TheXRPguy suggested that Trump’s return could foster a more crypto-friendly environment, which would be beneficial for cryptocurrency assets like XRP, given his history of supporting the market.
Additionally, TheXRPguy noted the planned exit of Gary Gensler from the U.S. Securities and Exchange Commission (SEC) on the same day as Trump’s inauguration.
Gensler played a crucial role in the lawsuit against Ripple, which adversely affected XRP.
The analyst believes that with him leaving, the ongoing litigation might come to a close, potentially giving XRP’s value a significant boost.
Future Prospects and Upcoming Developments
As the situation develops, TheXRPguy also pointed to the anticipated altcoin season, rumors of a major banking partnership involving Ripple, and the progress on an XRP Exchange-Traded Fund (ETF) as critical milestones that investors should consider before they decide to sell.
Data from Blockchain Center indicates that we are entering an altcoin season, which bodes well for XRP, potentially leading to impressive price gains.
TheXRPguy speculated that Ripple is on the brink of securing a major banking alliance for its payment services, which could significantly enhance XRP’s adoption among institutional players.
Furthermore, with firms like Bitwise, Canary Capital, 21Shares, and WisdomTree filing for an XRP ETF, optimism is high that approval will be forthcoming, especially with Paul Atkins, a known pro-crypto advocate, taking the helm at the SEC.
Currently, XRP is trading around $2.39, reflecting a decline of more than 9% in the last 24 hours, according to CoinMarketCap.
Investors are now left pondering these developments, weighing the potential for future growth against the recent dip.
Source: Bitcoinist
