Critical Ripple (XRP) price prediction based on the outcome of the US presidential election

TL;DR

XRP’s price struggles amid continued SEC demand, with hopes that a possible Trump victory could lead to regulatory changes that benefit the asset. Analysts predict a bullish scenario for the token, with possible gains if resistance levels are broken. Potential catalyst for XRP

Ripple’s XRP is among the few leading cryptocurrencies whose prices have fallen year-to-date. It is currently valued at around $0.51 (according to data from CoinGecko), which represents a 16% decline since January 1st.

XRP Price, Source: CoinGecko

A major factor suppressing XRP’s valuation and creating an environment of uncertainty appears to be the prolonged lawsuit between Ripple and the US Securities and Exchange Commission (SEC).

Despite numerous court rulings in recent months, the case remains ongoing due to the regulator’s appeal of a 2023 verdict, which ruled that the company’s XRP sales to retail investors on crypto exchanges did not violate securities laws.

However, the upcoming final results of the US presidential election may reverse the asset’s negative trend. At least, that’s what X user Pepa thinks. The analyst presented a chart showing that the price of XRP exploded to a new all-time high several months after Donald Trump won the 2016 election, when he was running against Democratic candidate Hillary Clinton.

User X suggested that such a bullish scenario is again possible if the Republican enters the White House as the winner.

It’s worth noting that Trump promised to fire SEC Chairman Gary Gensler the first day after becoming president. As mentioned above, the agency and its boss have been at war with Ripple and many other crypto companies. Changing the leader of the SEC to one who is more open to promoting innovation can positively affect the entire digital asset market.

Additional XRP predictions

EGRAG CRYPTO and Dark Defender also described bullish predictions. The former argued that XRP’s valuation has been following the so-called “frost bridge” in recent years. Analysis suggests that a continuation of this trend would result in a price rally to $0.90.

Dark Defender weighed in on November 4, stating that XRP’s daily indicators are oversold, while the daily trend is bullish. The analyst predicted a bullish run once the price breaks through the crucial resistance areas of $0.5286, $0.6044 and $0.6649.

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