Last updated:
Author
Simon Chandler
Author
Simon Chandler
Share
Why Trust Cryptonews
The XRP price has dipped by 0.5% in the past 24 hours, retreating to $0.5229 as the crypto market corrects a little following a bullish start to the week.
XRP is now down by 3% in a fortnight and by 16% in a month, with the altcoin also suffering a 6% decline in the past year.
Its underperformance follows from ongoing certainty surrounding the SEC’s recent appeal, although some crypto-focused lawyers are suggesting that a Trump victory in next week’s election would likely result in current Chairman Gary Gensler leaving the regulator.
If correct, this could mark a shift to a more crypto-friendly regulatory regime, enabling the XRP price to continue its prior growth.
XRP Price Forecast: Could Trump Win Push Gary Gensler Out and XRP to $100?
Posting on X, noted legal expert MetaLawMan – AKA James A. Murphy – highlighted five possibilities concerning Gensler in the event of Trump victory.
It’s worth highlighting the first possibility, Gensler’s resignation, since this is what usually happens with a change in administration.
This likelihood is perhaps part of the reason why the cryptocurrency market has been rallying in the buildup to next week’s election, since the market is betting on a Trump victory.
Of course, there may be a fear that Gensler will refuse to follow precedent and step down.
This could create difficulties, and Murphy even suggests – as his fifth scenario – that Gensler will refuse to leave, leading to a possible legal battle.
He seems to take the view that this unlikely, if only because it hasn’t happened before, yet it’s significant that the XRP price hasn’t rallied as much as other major tokens during the surge of the past week.
In other words, there may be a fear that the SEC’s recent appeal may cause problems for Ripple, although other lawyers have argued that the situation isn’t as bad as it seems.
Based on this more positive stance, XRP is in a good position to rally towards the end of the year, particularly if Trump does win.
The coin’s chart today suggests that its price may correct over the next day or so, before rallying again in the final few days before the election.
After touching 70 yesterday, XRP’s relative strength index (purple) has dropped below 50, a sign of correction.
However, if Trump does win the election next week, we would expect the XRP price to rally along with the market.
It could hit $0.65 by the end of November, and $0.75 by the end of the year.
Presale Tokens with Big Potential
It’s possible that, because of its legal issues, XRP will continue making only gradual progress, missing out on some of the big gains that other major coins will likely enjoy.
As such, traders may prefer to seek alternatives, including small-cap tokens and presale coins that could rally strongly once they list.
One promising presale coin is Crypto All-Stars (STARS), an exciting new Ethereum-based token that has raised a very impressive $2.8 million in its offering.
Crypto All-Stars is exciting because it’s the first token in the market to offer a ‘MemeVault’, which enables holders of any meme coin to stake their holdings.
The Crypto All-Stars contract makes use of the ERC-1155 multi-token standard, enabling it to tokenize any coin, including tokens that aren’t on the Ethereum blockchain.
What’s significant about this is that it will provide Crypto All-Stars with potentially unlimited reach, given that its vault is open to holders of any meme token.
And what’s also promising is that users who hold more STARS tokens will receive greater rewards from staking other meme coins.
This could result in huge demand for STARS, which has a max supply of 42.069 billion.
Investors can still buy some STARS on the cheap by visiting the official Crypto All-Stars website, with the current price being $0.0015309.
This will increase fractionally in just under a day, while it will rise several more times before the sale ends.
Investors should therefore act quickly, especially given that the coin looks like it could rocket when it lists.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
