A recent report claims that the price of XRP could be on the verge of breaking out and reaching $10 by the time Trump takes office on January 20, 2025. Trump’s hand-picked crypto-friendly appointees for top U.S. finance cabinet positions possess in-depth knowledge of the digital asset space. This development directly benefits Ripple as it is the go-to choice for fintech payments for digital transactions around the world.
Leading banks have partnered with Ripple to enable smooth, secure, and seamless transactions. This development has directly boosted the price of XRP as it benefits from the global fintech shift. A handful of banks, including institutional funds and hedge funds, are incorporating fintech into their systems and processes. The Ripple Foundation is at the forefront of this change as it is equipped with all the required technology.
Will the price of XRP reach $10 on January 20, 2025?
Ripple's XRP is currently trading at around $2.35 on Friday, having increased nearly 350% in a month. Investors who entered the market days after Trump won the presidential election made substantial profits in a short period. For XRP to reach the $10 mark, leading altcoins need to rise about 330% again in the next 45 days.
In the cryptocurrency market, a 330% increase in 45 days is not an impossible task. The industry has seen unimaginable gains, even overshadowing the world's leading stocks. However, for XRP to rise another 330% and reach $10, it needs to maintain its positive momentum over the next two months.
The departure of SEC Chairman Gary Gensler will also bring some comfort to Ripple, as he has been persistently pursuing litigation. The price of XRP has been hindered by the SEC lawsuit against Ripple, and has been under pressure for nearly five years. However, whether altcoins will reach $10 during Trump's early presidency remains to be seen. Such predictions are difficult to ascertain, as several factors are at play, and it is advised to treat this prediction with caution.