XRP, a cryptocurrency created by Ripple Labs, has experienced an incredible year-to-date gain of 54%, outperforming Bitcoin and Ethereum. The token is now valued at $185 billion, ranking it as the world’s third-largest cryptocurrency.
President-elect Donald Trump’s administration could bring significant support to the cryptocurrency market, including XRP. Trump has signaled his support for the crypto industry, stating that he wants to make the US “the crypto capital of the planet.” This stance is expected to be reflected in changes within the Securities and Exchange Commission (SEC).
The SEC had previously brought a case against Ripple Labs, alleging that XRP was sold as an unregistered security. However, President-elect Trump’s meeting with Ripple CEO Brad Garlinghouse has raised hopes that the agency will re-evaluate its stance.
Additionally, Trump is expected to appoint Paul Atkins, a vocal supporter of the cryptocurrency industry, as the new SEC chairman. This could lead to a shift in the agency’s approach towards XRP and potentially drop the ongoing case against Ripple Labs.
Furthermore, Trump’s administration has created a new White House position for an artificial intelligence and cryptocurrency czar, which is expected to be filled by entrepreneur David Sacks, a supporter of crypto and investor in the space. This appointment could further boost confidence in XRP and the broader crypto industry.
Source: https://www.fool.com/investing/2025/01/19/president-elect-trump-just-gave-xrp-investors-some