Trumps Meme Coin Sparks Hope for Ripples SEC Victory, here's how
Trumps Inauguration and XRP Market Movements
On January 18, XRP recorded a slight dip of 0.81%, closing at $3.2668. This came amid broader crypto market volatility, which saw the global market cap drop by 0.32% to $3.56 trillion. XRPs price fell to a session low of $3.0580 before recovering, reflecting a cautious sentiment ahead of President-elect Donald Trumps inauguration on January 20.
XRP/USDT 1-hour chart - Bitget
The anticipation of regulatory shifts under the new administration has kept investors on edge, particularly as Trump unveiled a bold crypto initiative.
Trumps Meme Coin and Pro-Crypto Agenda
President-elect Trump announced the launch of his MemeCoin, a move aligning with his pro-crypto agenda. In a statement, Trump declared:
The timing coincides with Ripples SEC appeal and the departure of Gary Gensler as SEC Chair. Pro-crypto advocates, including lawyer Bill Morgan, see this as a potential boost for Ripples legal position. Morgan remarked:
Ripples ongoing cross-appeal against Judge Torres $125 million penalty decision also plays a significant role. The penalty was far below the SECs demand, reinforcing Ripples position in the case.
Regulatory Shifts: Will the SEC Withdraw its Appeal?
Market optimism rose this week following reports that the SEC may pause or withdraw non-fraud crypto cases. The Ripple case, lacking fraud allegations, could benefit from this development. Trumps nomination of Paul Atkins, a known crypto advocate, as the new SEC Chair has further fueled optimism. Atkins pro-market stance is expected to reshape the SECs crypto enforcement strategies.
XRP Price Prediction After Trump's Inauguration
The Ripple vs. SEC case remains pivotal for XRPs price trajectory. If the SEC pursues its appeal, XRP could retreat toward $2. However, a withdrawal could push XRP above its 2018 all-time high of $3.5505, with the potential to break the $4 mark.
XRP Price Analysis
- Current Price: $3.10
- Support Levels: $3, $2.8, $2.5
- Resistance Levels: $3.3999, $3.5505, $4
- RSI (14-Day): 73.94 (Overbought Territory)
Despite Saturdays dip, XRP remains bullish, trading above its 50-day and 200-day EMAs. A breakout above $3.3999 could signal a strong upward move, while a drop below $3 might indicate bearish pressure toward $2.5 or $2.
Market Outlook: A Pivotal Year for XRP
XRPs future depends heavily on regulatory developments and Ripples legal outcomes. Trumps pro-crypto stance and potential changes under a new SEC Chair could redefine the market. Additionally, broader economic and policy trends will shape crypto dynamics in 2025.
Read more: https://cryptoticker.io/en/xrp-price-prediction-trump-meme-coin-ripple-sec-appeal/
Text source: CryptoTicker
