Predicting XRP Price: Will Trump's Victory and Gensler's Retreat Push the Price to $10?

XRP has reached $2.48, the highest price this currency has reached since 2018. This alternative currency has increased by about 399 percent in the span of one month due to optimistic sentiment about regulations, politics, and institutions. Changes in Politics and Regulations Strengthening Trust A series of political and regulatory changes has contributed to the rapid rise of XRP. With its critical stance on digital assets, the cryptocurrency industry has welcomed Gary Gensler's resignation as SEC chairman. Market participants predict that a cryptocurrency-friendly SEC leadership will alleviate regulatory pressure and potentially resolve Ripple's long-standing legal battles. Moreover, new hope for bitcoin investors has emerged after the victory of President-elect Donald Trump, whose government is likely to favor bitcoin. The foundation for this enthusiasm is the rise of altcoins and retail trading, which also boosts XRP. The Demand of Organizations is Increasing Regarding the organization's investment in XRP, CoinShares recorded $95 million and $11.75 million in weekly investments, a 621% increase compared to the previous week. This means that XRP accounts for 35% of the total inflow into digital assets during the same period, indicating an increasing use of Ripple in the institutional market. Other ETF applications for XRP cryptocurrency include WisdomTree, 21Shares, and Canary Capital. Some experts in the industry believe that approving ETFs can trigger a massive price increase as institutional investors will have direct access to Ripple's XRP. This also increases confidence that appropriate assets will be created in the ETF profile as the New York Mellon Bank, acting as a trustee, will help attract larger financial institutions to participate in the Ripple ecosystem. Altcoin Momentum Supports XRP's Growth They called it the 'altcoin season', where XRP has taken the market's volatility to new heights. Bitcoin's market share has dropped from 60% to 53% as investors pour money into altcoins, with XRP being one of the major beneficiaries. This is especially true after platforms like Robinhood relisted XRP, causing high trading volume. The availability of XRP for street buyers has brought market activity, which has increased price volatility. The current performance of XRP and general market conditions indicate similar growth in the future. Some followers believe that XRP is awaiting the approval of ETF and regulatory agencies, and they believe that once these happen, XRP can easily skyrocket to new levels. With XRP still being the center of attention, the buying waves of institutions, the readiness of the political landscape, and the new changes in the policies of the regulatory agencies are expected to determine the future trajectory of the token in the coming months. However, whether the token will reach the $10 mark is inflated or not, and when it will depend on how all these factors play out. Currently, the XRP trend is favorable for maintaining its upward trend and strengthening its position in the altcoin market. DYOR! #Write2Win #Write&Earn $XRP {spot}(XRPUSDT)