Donald Trump’s victory has ignited a cryptocurrency bull where Bitcoin, Ethereum, Dogecoin, and Ripple’s XRP are soaring in the charts. Ripple’s native token XRP touched a high of $0.62 on Tuesday and is attracting heavy bullish sentiments in the indices. The broader cryptocurrency market remains on the greener side of the spectrum with optimism reaching a peak this month.
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Bitcoin reached a new all-time high of $89,560 on Tuesday and is up nearly 10% in the day’s trade. XRP is currently trading at $0.61 and spiked nearly 7% in the charts and could move further up as the Trump-induced rally could go on this month.
Crypto Bull Run: Ripple (XRP) Nearing $1 Before Trump Takes Oath?
Trump’s presidency could change the fortunes of the cryptocurrency market as the President-elect is looking to appoint pro-crypto candidates for key federal financial agencies. Since Ripple is involved in transferring money seamlessly, XRP’s price could gain the most out of Trump’s leadership.
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Leading on-chain metrics and price prediction firm Changelly has predicted that Ripple’s XRP could close in 2024 near $0.80. That’s an uptick and return on investment (ROI) of approximately 30% from its current price of $0.61. Therefore, an investment of $1,000 could turn into $1,300 if the forecast turns out to be accurate.
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The price prediction firm also projected that Ripple’s XRP could climb above $1 in 2025 after Trump takes office. The highest XRP could trade is $1.18 in 2025, with an average trading price of $0.98. The projection forecasts that the altcoin will be hovering near the $1 mark throughout 2025.
If Bitcoin maintains its positive momentum and soars above $100,000, it will pull leading altcoins up along with it. Not just Ripple’s XRP could benefit from Trump’s presidency, even Cardano’s ADA and Ethereum could rally hard. The next four years seem promising with the bull run being firmly on track.
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