Perhaps no cryptocurrency stands to benefit more from a Trump victory than XRP.
The former president has promised to fire SEC Chair Gary Gensler on the first day of his presidency. This would very likely put an end to the landmark Ripple vs SEC lawsuit, paving the way for an XRP bull run.
In fact, the XRP price may skyrocket even before November, considering that Polymarket is now showing Trump as the favourite to win the White House.
Some experts are already suggesting that it could be one of the best-performing altcoins during the upcoming crypto bull run.
However, it will still face stiff competition for capital from meme coins such as Pepe, Floki and Base Dawgz.
XRP Price Prediction – Is It a Good Time to Buy?
XRP has largely been sidelined from the current bull cycle, despite Ripple scoring several landmark victories over the US Securities and Exchange Commission.
Judge Analisa Torres of the SDNY District Court ruled last year that XRP is not a security in itself and that Ripple did not violate the Securities Act with its programmatic sales. She also imposed a $125 million civil penalty on Ripple for its illegal institutional sales, substantially lesser than the $1.9 billion demanded by the SEC.
And yet, the XRP price barely saw any sustainable growth, squandering any gains from the favourable rulings. However, its disappointing price action could be coming to an end with a Trump victory in November.
Indeed, investors largely remained cautious with XRP, fearing that the SEC could appear Torres’s initial ruling. A different judge – perhaps Jed Rakoff of SDNY – could reverse her ruling.
However, a Trump presidency could put any such scenario to bed. With Gary Gensler’s exit, it is very unlikely that a new Chairman would continue with the Commission’s anti-crypto agenda. In fact, the former President may pick someone like Hester Peirce to lead the agency, which would be extremely bullish for crypto.
As previously mentioned, such a scenario paves the way for an XRP bull run. Additionally, the Federal Reserve is set to cut interest rates, starting in September. In fact, the CME FedWatch is currently showcasing a 38.5% likelihood of a 50 bps rate cut next month, a decidedly bullish scenario from XRP and the rest of the market.
However, the bulls still have their work cut out for them. According to the XRP price prediction from popular crypto trader Nebraskangooner (@Nebraskangooner), the token has been range-bound over the past few weeks and needs to secure a break out above the upper channel resistance for a bullish continuation.
Quite simply, sidelined investors should wait for a high-volume flip of the $0.66 resistance before going long on XRP.
XRP to Face Siff Competition from Meme Coins
XRP does appear to be an excellent buy for the next crypto bull run. However, meme coins will still lead the rally, as they did in the first quarter of this year.
Pepe, Dogwifhat and Floki are expected to outperform XRP, despite the bullish headwinds for the latter.
In fact, smart money investors are also rating new meme coins very highly. Indeed, these tokens can often deliver outsized returns due to their low market capitalization.
For instance, a new Base meme coin – Base Dawgz (DAWGZ) – appears to be in high demand, having already raised nearly $3 million in its presale in a few short weeks.
In fact, some analysts are already comparing it with Brett, the top meme coin on the Base chain.
DAWGZ is a high-utility meme token, with innovative solutions to attract retail investment and foster strong community backing. For instance, its share-to-earn program offers investors airdrop points for sharing content related to the project on social media.
Similarly, investors can receive a percentage of the investments made through their referral links.
Additionally, Base Dawgz is a multi-chain meme coin, an ideal strategy for maximum visibility and adoption. The token will go live on Base, Ethereum, Solana, BNB Smart Chain and Avalanche. In fact, buyers can stake their coins on any of the chain and earn attractive staking rewards.
