Following the last presidential elections in the USA, there are important developments in the cryptocurrency markets. With former President Donald Trump taking office again, Ripple’s cryptocurrency XRP rose rapidly, increasing its market value to over $100 billion and becoming the third largest cryptocurrency.
XRP Rise and Market Value
With Trump’s election victory, XRP showed a significant price increase. The coin, which increased by approximately 15 percent to $ 2.50 on Monday, increased its market value to $ 137 billion. This growth allowed XRP to move into third place, leaving behind major competitors such as Tether and Solana.
The positive atmosphere in the cryptocurrency markets after Donald Trump won the presidential election is remarkable. The new president’s promise to make the United States the “crypto center of the world” has led to great optimism, especially among digital asset investors. This promise created an expectation that the digital asset ecosystem would take a more positive approach to regulations, and this was reflected in the value of Crypto assets such as XRP.
SEC Cases and Management Changes
The US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple in 2020 for selling XRP as an unregistered security. Although this litigation process has created significant pressure on Ripple and XRP, Trump’s promise to dismiss SEC Chairman Gary Gensler during the election campaign and Gensler’s announcement that he will leave office after the election seem to have reduced this pressure on the coin.
Trump’s promises and Gensler’s departure from the SEC have strengthened the expectation that crypto regulations in the US may change. This led to investors in crypto markets developing a positive perception and major assets such as XRP gaining value.
A New Era in the XRP and Crypto World
It is said that with Donald Trump becoming president again, the USA’s strategies on digital assets may change and these strategies may have far-reaching effects on the crypto market. XRP’s strong rise is considered an indication of belief in Trump’s goal of creating a more favorable regulatory environment for digital assets.
While these developments in the crypto world continue to attract the attention of investors, they point to a major turning point, especially for the future of the coin. The steps and digital asset regulations to be taken during the new presidency may have a significant impact on the future of crypto markets.
XRP made a significant jump with Trump’s presidential victory, becoming the third largest cryptocurrency. The expectation that regulatory uncertainties in the US will decrease and a more favorable digital asset environment will be created has contributed to the appreciation of major cryptocurrencies such as XRP. In this process, the steps the USA will take in its digital asset strategy and the attitude of the SEC under its new management will be decisive for the crypto world.
