Market analyst Mickle anticipates a significant rise in XRP’s value on the heels of potential regulatory changes in the U.S. Mickle (@xrpmickle), a prominent figure within the XRP community, shared his prediction on X, motivated by ongoing developments in the U.S. crypto regulatory landscape, which has become a central topic with the upcoming elections.
The crypto industry’s substantial user base has captured the attention of presidential candidates who recognize its potential influence in the upcoming elections. This newfound recognition has led to a shift in the U.D. Securities and Exchange Commission’s (SEC) regulatory approach.
The SEC employed a strict enforcement strategy over the past few years, filing lawsuits against companies for anything they considered illegal within the crypto market but failing to provide clear guidelines. However, several recent events highlight a shift in this trend.
The SEC greenlit spot Bitcoin and Ethereum ETFs within a few months of each other. Additionally, the SEC halted its investigation into Paxos, a prominent crypto firm, regarding its issuance of the Binance USD (BUSD) stablecoin.
The SEC also recently canceled a closed-door meeting with Ripple, and most notably, the SEC has indicated it will not classify certain cryptocurrencies, including Solana (SOL) and Cardano (ADA), as securities in its ongoing lawsuits against Binance and Coinbase.
This development drew a fiery response from Ripple CEO Brad Garlinghouse, where he called out the SEC’s hypocrisy. These developments have also led some in the community to speculate that these actions are a deliberate attempt to placate the crypto community. Donald Trump has already gained favor with the crypto community, and the SEC might be attempting to show a pro-crypto stance from the Democrats.
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Potential Impact on XRP
Mickle anticipates a substantial shift in the political landscape soon, one that would likely usher in more favorable crypto regulations. He argues that this anticipated change and the industry’s resilience during prior regulatory hurdles could lead to a significant upswing in the value of major cryptocurrencies.
Mickle highlighted XRP, pointing to XRP’s Bollinger Bands, crucial technical indicators. The Bollinger Bands have narrowed significantly, historically a sign of potential volatility and impending price movement. Similar Bollinger Band patterns preceded XRP’s price spikes in 2017 to $3.31 and in 2021 to $1.96, lending credence to the possibility of another substantial price increase.
One prominent analyst recently predicted a 600x surge for XRP based on the narrowing Bollinger Bands, but Mickle takes it further with an audacious 1,000x surge for the digital asset. At the time of press, XRP is trading at $0.5623, and a 1,000x surge would send the digital asset price to an astonishing $562.
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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