Renowned crypto expert Zach Rector recently shared a chart on X, predicting a significant breakout for XRP. In a subsequent YouTube video, Rector elaborated on his predictions, citing several key factors that could drive the asset’s anticipated surge.
Rector pointed to a recent post by Ripple CEO Brad Garlinghouse, in which Garlinghouse reminded President-elect Donald Trump about his promise to dismiss SEC Chairman Gary Gensler on his first day in office. This call to action is a potential catalyst for regulatory changes that could favor Ripple and, by extension, XRP.
XRP Breakout 👇 pic.twitter.com/FHIeI5tHLY
— Zach Rector (@ZachRector7) November 7, 2024
The Path to a New All-time High
Rector emphasized the historical connection between Ripple and the Trump administration, recalling how XRP experienced substantial growth during Trump’s first term. Rector recently drew attention to XRP’s performance during Trump’s first term, as the digital asset climbed to its all-time high of $3.84 in January 2018.
Furthermore, Rector highlighted Bitcoin’s impressive performance following Trump’s election victory. Notably, Bitcoin reached a new all-time high above $76,000, and the bullish sentiment extended to the broader cryptocurrency market, with XRP also showing significant momentum, climbing to its highest point since early October.
Rector observed a corresponding massive increase in the stock market, indicating a favorable economic environment that could further support the digital asset’s rise.
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Will RLUSD Replace Tether?
One of Rector’s notable points was the potential regulatory crackdown on Tether. There are allegations that Tether has been creating a financial bubble by minting stablecoins without sufficient backing.
Rector suggested that the Trump administration targeting Tether could present an opportunity for Ripple to step in with its stablecoin, RLUSD, which could stabilize the crypto market and significantly benefit XRP.
What’s Next for XRP?
Rector also touched upon the broader implications of a Trump administration for the cryptocurrency sector. He noted that Trump’s approach to financial regulations could create a more favorable landscape for cryptocurrencies.
In his video, Rector reiterated his belief in the imminent breakout, stating, “XRP is about to be set free.” He expressed confidence that the regulatory environment under Trump could unlock significant value for XRP holders, potentially replicating the dramatic surge seen in 2017.
Many analysts have predicted that XRP can repeat the 2017 surge, and Rector’s analysis presents a compelling case for XRP’s potential breakout. His insights offer a hopeful outlook for investors eagerly watching the market for signs of the predicted surge.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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