- Trump’s potential success may clear up Ripple’s judicial challenges.
- XRP’s price could rise if the SEC complaint is dropped.
- The crypto economy expects Ripple to gain clarity under Trump’s presidency.
XRP’s economic prospects and price could see essential changes depending on the results of the 2024 U.S. votes. As Donald Trump gains momentum in the polls, many wonder how his victory could affect the firm's constitutional conflict with the U.S. Securities and Exchange Commission .
Ripple's Administrative Struggles with the SEC
The ethical dispute with the SEC began in 2020, when it accused Ripple Labs of raising over $1.3B by selling the token without declaring it as a security. This action has kept its future uncertain for years. In 2023, a federal judge ruled that the company's sales to retail investors were not violations of U.S. stock legislation. However, the board rejected the decision, meaning the case is still constant and the outcome remains unclear.
How a Trump Win Could Affect XRP
If Donald Trump triumphs in the 2024 election, it might greatly influence the crypto marketplace. Trump has shown support for digital assets like Bitcoin and has promised to create a friendlier environment for virtual currencies. Additionally, he has said he would fire SEC Chair Gary Gensler if he assumed office.
Many believe that within Trump’s authority, the SEC could drop its appeal in Ripple’s case, which would allow the firm to move forward without the threat of further legal complications. This could restore investor confidence in XRP, possibly leading to higher prices.
XRP’s Market Performance Amid Voting Speculation
The U.S. presidential election results have already started influencing XRP’s trading performance. As Donald gains an edge in early polling, the coin’s demand has increased. On November 6, its price rose slightly as Trump took an early lead in the race.
Despite this increase, the toke's cost has remained relatively stable, trading between $0.49 and $0.53. Analysts suggest that while XRP may not see a huge price surge immediately, a victory could clear up regulatory confusion. This might help restore confidence in its future and its place in the crypto sector.
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