Ripple Labs’ XRP is a key player in digital payments, especially for cross-border transactions. Despite falling 6.37% over the past 24 hours to trade at $2.37, it remains a strong contender in this bull run.

The digital asset recently broke out of a six-year consolidation phase, signaling a potential bull run, fueled by pro-crypto U.S. leaders. As the altcoin market gains traction, XRP holders are eagerly awaiting the next move.

However, analyst Velo Maxi warns XRP holders to wait before selling their stakes. He outlines seven key events that could impact the future of the cryptocurrency and could drive its price even higher.

7 Important Events to Watch Before Selling

Launch of Ripple's Stablecoin RLUSD

The first milestone is Ripple launching its stablecoin, RLUSD, on December 17, 2024. This new stablecoin could drive demand for Ripple's cryptocurrency. Many see this as a significant step forward for Ripple. Maxi believes this is a sign of things to come.

Trump's Potential Return to the Presidency

Maxi also warns XRP holders to wait until Donald Trump may return to power. With Trump winning the election in November, his policies could shift to support cryptocurrency. A more friendly regulatory environment could benefit XRP. Maxi believes it's worth the wait.

Gensler Leaves SEC

Another important moment to watch is the departure of SEC Chairman Gary Gensler. Gensler announced his resignation, effective January 2025. Maxi believes the legal uncertainty surrounding XRP will not be clarified until Gensler leaves. Trump's appointment of Paul Atkins could lead to a more crypto-friendly SEC.

Maxi highlights Ripple's ongoing legal battle with the SEC. The case is still in the appeal phase, creating uncertainty for XRP holders. Many believe the case could be resolved under a new SEC chairman. This resolution could eliminate a major obstacle for XRP.

Altcoin Season

Maxi sees potential for an altcoin season. As Bitcoin's dominance drops below 50%, altcoins like XRP often rise. Bitcoin's current dominance is 57%, so that moment may be near. If Bitcoin loses its position, cryptocurrency could accelerate.

Ripple's Banking Partnerships

Ripple's partnerships with financial institutions are also a key factor. Maxi believes a major partnership announcement could push XRP's value higher. The more banks Ripple partners with, the stronger XRP's position becomes.

Approval of XRP ETF

Finally, Maxi points to the potential approval of the XRP ETF. Several applications are under SEC review. If approved, the XRP ETF could attract institutional investors. Maxi sees this as a turning point, similar to Bitcoin's surge after the ETF was approved.

XRP Price Outlook

XRP saw a price jump earlier this week. The price rose from $2.35 to nearly $2.60 on Monday night after Ripple announced the launch of the stablecoin on December 17. The price surge continued on the launch day, reaching a high of $2.73.

However, cryptocurrency could not maintain its gains. It dropped to $2.50 before a market-wide correction pushed it even lower. The token hit a six-day low of $2.23. In just 24 hours, the price dropped 11%, and in 36 hours, it fell 15%.

This move looks like a classic "sell the news" event. XRP surged before the launch of RLUSD, then dropped after the launch. Meanwhile, the potential for an ETF launch remains uncertain.

Experts like Eric Balchunas from Bloomberg say Ripple may lag behind other projects, such as Litecoin or Hedera, which could be approved first. However, leadership changes at the SEC could change everything in the future.

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