- President Trump’s emergence will end XRP’s challenges.
- Nominating Paul Atkins as the SEC chair is good for Ripple and XRP.
- XRP is a frontrunner in a potential Strategic Crypto Reserve.
Many XRP supporters believe Donald Trump’s presidency could resolve the cryptocurrency’s challenges and position it for long-term growth. In a recent podcast, a crypto analyst outlined factors that might drive XRP’s recovery and elevate its position in the cryptocurrency market.
According to the analyst, Donald Trump’s nomination of Paul Atkins, a known cryptocurrency advocate, as the next SEC chair favors Ripple and XRP. In his opinion, there is a high probability that Atkins will drop the charges against Ripple, consequentially breaking the shackles that held XRP down for several years.
Apart from XRP’s potential to break free from the SEC’s stranglehold, the analyst considers the cryptocurrency a frontrunner in the much-talked-about US Strategic Crypto Reserve. Notably, a narrative change from the proposed Strategic Bitcoin Reserve has dominated President Trump’s post-inauguration crypto outlook. Many analysts predict the creation of an expanded project that will accommodate more “Made in the US” cryptocurrencies in a Strategic Crypto Reserve.
Related: XRP Prediction for January 24: Is $3 the New Support?
Besides XRP’s potential role in an expanded Strategic Crypto Reserve, several fund management companies have filed for XRP ETFs. If approved, that would create a new adoption frontier for the cryptocurrency, allowing an influx of institutional investors, as seen with the launch of Bitcoin ETFs since early last year. Some firms that have filed for XRP ETFs include 21 Shares, Bitwise, WisdomTree, and Canary Capital.
Related: Analyst Predicts an Expanded Crypto Reserve Covering Bitcoin and Selected Altcoins
XRP ETFs: A Path to Institutional Adoption
In the meantime, over 40 XRP ETF applications are awaiting approval by the SEC. In its report, the renowned financial services company JP Morgan estimates that SOL and XRP ETFs could attract up to $14 billion in inflows after approval, with higher expectations for XRP.
Crypto market analysts predict a boost in demand for XRP tokens to follow the expected positive outcomes for the cryptocurrency. Meanwhile, on-chain data shows that institutions and whales are depositing significant funds into the cryptocurrency, highlighting their expectations of a brighter future for the Ripple crypto project.
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