Trump’s return to the White House may promote SEC restructuring and cryptocurrency policy changes
With Trump re-elected as President of the United States, the cryptocurrency market has experienced optimism, with two coins, $XRP and Solana, seeing significant price increases. The market expects that Trump’s pro-encryption policies may prompt significant changes in the leadership of the U.S. Securities and Exchange Commission (SEC). Especially under the supervision of SEC Chairman Gary Gensler, cryptocurrency ETF applications have been repeatedly delayed. The market has complained about this, believing that this policy limits market innovation and development.
There are rumors in the industry that if Trump takes office, he may elect Hester Peirce, a "crypto mom" with a crypto-friendly stance, to take over as SEC chairman, giving the market more regulatory tolerance, and is expected to approve several cryptocurrency ETFs, including XRP and Solana ETF application. Previously (Crypto City) also sorted out some candidates who might become the next SEC chairman.
Soldout_Vin, a market analyst for $XRP, pointed out that after Trump was elected, the price of $XRP has broken away from the previous consolidation period and is expected to usher in a new breakthrough. Since the election results were announced, $XRP price has surged and broke out of an important resistance range. According to analysis, if the SEC does reorganize and relax its regulations on $XRP, the price of the currency may rise further. In addition, Solana also performed strongly, with its price breaking through important technical support points, and the market is optimistic that its ETF application will be approved under the new regulatory environment.
XRP and Solana ETF applications may become beneficiaries under the new policy
Market news points out that if the SEC reorganizes its leadership, the approval rate for cryptocurrency ETF applications is expected to increase significantly. The $XRP and Solana ETFs are widely expected to gain traction in a pro-crypto policy environment, based on recent filings from several firms including Bitwise and Canary Capital.
The price of $XRP has recently exceeded $0.56 and attracted a large number of long positions, showing that the market has strong confidence in its continued price rise; Solana rose to $188 after Trump was elected, and analysts predict that its price may rise at Further upside lies in technical support and may even break through $300.
In addition, Bloomberg ETF chief analyst Erick Balchunas pointed out that if the new government adopts a more open stance towards cryptocurrencies, the Solana ETF's pass rate is expected to rise to 20%, indicating that the market is full of expectations for policy changes after Trump is elected. Overall, the market is optimistic that the passage of $XRP and the Solana ETF will symbolize a new stage in the crypto market and is expected to attract a large inflow of institutional funds, driving the prices of the two currencies to rise further.
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The long-term impact of Trump’s election on the crypto market
Analysts generally believe that Trump’s election may promote cryptocurrency to become part of the national asset, thereby promoting more active regulatory policies. As the new administration may push the SEC to re-evaluate the positioning of cryptocurrencies, the approval of XRP and Solana’s ETFs will further strengthen the United States’ competitive advantage in the global cryptocurrency industry. According to optimistic analysts’ expectations, $XRP price is expected to reach $2 after ETF approval, and Solana may rise to $500. If the SEC can relax regulations, the cryptocurrency market will enter a phase of accelerated development.
However, there are also critics who warn that the volatility of cryptocurrencies remains uncertain, especially amid the possible variables of future policies. Some people worry that if the new regulatory policies are not perfect enough, they may cause market overheating and excessive price fluctuations. Overall, the positive prospects that Trump’s election will bring to the cryptocurrency market are eye-catching. Whether XRP and Solana can pass ETF approval in the next few years will become the focus of the market.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
