Cryptocurrency commentator Ben Armstrong, popularly known as BitBoy, has a surprising outlook for XRP. He believes that the price of XRP could surge if President-elect Donald Trump makes good on his campaign promise to fire SEC Chairman Gary Gensler. Trump’s stance in support of cryptocurrency has already created excitement in the cryptocurrency market, with Bitcoin surging past $76,400 following news of his election victory. Meanwhile, XRP also showed an upward trend and reached $0.5739, its highest in 30 days.
The changing political scenario may push XRP higher. Let’s find out!
Why XRP Price Might Make Big Moves?
BitBoy’s rationale centers on the SEC lawsuit that has rocked XRP’s performance for years, which has led many in the XRP community to view Gensler as an obstacle to the asset’s potential. If Trump ousts Gensler, Armstrong believes it could pave the way for XRP to join the ranks of the highest-grossing cryptocurrencies. According to some XRP holders, the SEC’s actions during the 2021 bull market prevented the token from hitting new highs. With Gensler removed, BitBoy sees a unique opportunity for XRP to lead a new growth cycle, mirroring the massive bull market of 2017 in which XRP posted massive gains.
Skeptics still have doubts about XRP’s pumping potential.
However, not everyone agrees with BitBoy’s optimistic outlook. Some cryptocurrency advocates, such as X user Erik Huisman, dismiss the idea that Gensler’s departure will have a significant impact on the price of XRP. Critics argue that XRP has already overcome the regulatory hurdles it faced during the SEC lawsuit and now operates in a more favorable regulatory environment, reducing the need for a dramatic catalyst.
Can XRP mirror the 2017 surge following Trump’s victory?
As Donald Trump’s election as president approaches, speculation is growing about the future of SEC Chairman Gary Gensler. Some believe he may resign voluntarily rather than be forced out. Many in the cryptocurrency community are hopeful that Trump’s policies could benefit the market, especially by easing regulatory pressure. If Trump removes Gensler, XRP supporters believe this could trigger a major price rally.
However, there are still some who are skeptical about whether this will happen and what impact it will have on the price of XRP. BitBoy’s prediction that XRP could surge significantly if Gensler is fired is gaining traction, and excitement is rising among cryptocurrency enthusiasts. Ahead of Trump’s inauguration, all eyes are on the SEC and what impact these changes could have on the cryptocurrency world.
Both an IPO and stablecoin pipeline are in the pipeline for next year. Is now the right time to invest in XRP? Please let us know your thoughts.