The recent conclusion of the US elections has brought about a significant shift in the cryptocurrency market, with the ascension of Donald Trump to the White House sparking speculation about the future of three major coins – Ripple (XRP), Ethereum (ETH), and Bitcoin (BTC). Trump’s promise to remove the current US SEC chair, Gary Gensler, has raised hopes among investors that these coins could experience a meteoric rise if Gensler is ousted from his position.
Ripple (XRP), one of the leading cryptocurrencies in the market, has faced legal challenges under Gensler’s leadership, with CEO Brad Garlinghouse urging Trump to remove him without delay. If this were to happen, XRP could potentially reach new price highs, with predictions suggesting a rise to $0.64 by the end of next month.
Similarly, Ethereum (ETH) has also been impacted by Gensler’s accusations, with the US SEC categorizing it as a security. However, support from industry leaders like Garlinghouse has bolstered Ethereum’s position, with the potential for a dramatic surge if Gensler is removed. Predictions indicate a rise to $2,975 by December 7, 2024.
Bitcoin (BTC) may also benefit from Gensler’s potential removal, with the overall market sentiment expected to improve. Investors are hopeful that this could lead to new highs for Bitcoin, with forecasts suggesting a price of $96,945 by December 7, 2024.
Overall, the cryptocurrency market is closely watching developments surrounding Gensler’s position as SEC chair, with the potential for significant gains for Ripple, Ethereum, and Bitcoin if Trump follows through on his promise. Investors are advised to monitor the situation closely and consider the potential opportunities presented by these three coins in the coming weeks.