7 Important Events to Watch Before Selling Your XRP, Analysts Explain

XRP from Ripple Labs is a key factor in digital payments, especially for cross-border transactions. Despite a 6.37% decrease in the past 24 hours, trading at $2.37, it remains a strong contender in this price increase cycle. This digital asset has recently emerged from a six-year consolidation phase, signaling potential price appreciation driven by US cryptocurrency-friendly leaders. As the altcoin market garners attention, XRP holders are eagerly awaiting the next move. However, Velo Maxi analysts warn XRP holders to wait before selling their shares. He outlined seven key events that could impact the future of the cryptocurrency and potentially drive its price even higher. 7 Important Events to Watch Before Selling Introducing Ripple's Stablecoin RLUSD The first milestone is Ripple's launch of its stablecoin, RLUSD, on December 17, 2024. This new stablecoin could drive demand for Ripple's cryptocurrency. Many people see this as a major step for Ripple. Maxi believes that this is a sign of things to come. Possibility of Trump Returning as President Maxi also warns XRP holders to wait until Donald Trump may return to power. With Trump winning the election in November, his policies may shift to support cryptocurrencies. A more crypto-friendly regulatory environment could benefit XRP. Maxi believes it's worth waiting for. Gensler Leaves SEC Another important development to watch is the departure of SEC Chairman Gary Gensler. Gensler has announced his resignation, effective January 2025. Maxi believes that the legal uncertainty surrounding XRP will not be clarified until Gensler steps down. The appointment of Paul Atkins by Trump could lead to a more cryptocurrency-friendly SEC. Resolve Ripple's Legal Case Maxi emphasizes the ongoing legal battle between Ripple and the SEC. The case is still in the appeals stage, creating uncertainty for XRP holders. Many believe that the case could be resolved under the leadership of a new SEC chairman. This resolution could remove a major obstacle for XRP. Altcoin Season Maxi sees potential for an altcoin season. When Bitcoin's dominance drops below 50%, altcoins like XRP typically rise. The current dominance of Bitcoin is 57%, so that time may be approaching. If Bitcoin loses its position, cryptocurrencies could accelerate. Ripple's Banking Partnership Ripple's partnerships with financial institutions are also an important factor. Maxi believes that a major partnership announcement can push up the value of XRP. The more banks Ripple collaborates with, the stronger the position of XRP. Approve XRP ETF Finally, Maxi only pointed out the possibility of approving XRP ETF. Some profiles are being considered by the SEC. If approved, XRP ETF could attract institutional investors. Maxi sees this as a turning point, similar to the increase of Bitcoin after the ETF approval. XRP Price Outlook XRP has witnessed a sharp price jump earlier this week. The price rose from $2.35 to nearly $2.60 on Monday night after Ripple announced the launch of a stablecoin on December 17. The price surge continued on the launch day, reaching a peak of $2.73. However, the cryptocurrency could not sustain its increase. It dropped to $2.50 before a market-wide correction pushed it even lower. The token touched a six-day low of $2.23. In just 24 hours, the price dropped by 11%, and within 36 hours, it had fallen by 15%. This move looks like a classic 'news flash' event where XRP soared before the launch of RLUSD, then dropped afterwards. Meanwhile, the possibility of an ETF launch is still uncertain. Experts like Bloomberg's Eric Balchunas suggest that Ripple could be behind other projects, such as Litecoin or Hedera, which could be approved first. However, changes in leadership at the SEC could change everything in the future. DYOR! #Write2Win #Write&Earn $XRP {spot}(XRPUSDT)