7 Important Events to Watch Before Selling Your XRP, Analyst Explains

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 bull cycle. This digital asset has recently emerged from a six-year-long consolidation period, signaling a potential price increase, driven by US crypto-friendly leaders. As the altcoin market attracts 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 main events that could impact the future of cryptocurrency and could push its price even higher. 7 Important Events to Watch Before Selling Your XRP Introducing Ripple's RLUSD Stablecoin The first milestone is Ripple's launch of its stablecoin, RLUSD, on December 17, 2024. This new stablecoin can drive the demand for Ripple's cryptocurrency. Many consider this a significant step for Ripple. Maxi believes this is a sign of things to come. The possibility of Trump returning to the presidency Maxi also warns XRP holders to wait until Donald Trump can return to power. With Trump winning the election in November, his policies may shift towards supporting cryptocurrencies. A more friendly regulatory environment could benefit XRP. Maxi believes it's worth waiting for. Gensler leaves SEC Another important development to watch for is the departure of SEC Chairman Gary Gensler. Gensler has announced his resignation, effective in January 2025. Maxi believes that the legal uncertainty surrounding XRP may not be clarified until Gensler steps down. The appointment of Paul Atkins by Trump could lead to a more crypto-friendly SEC. Resolve Ripple's legal dispute 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 often rise. Bitcoin's current dominance is 57%, so that time may be near. If Bitcoin loses its position, cryptocurrencies could accelerate. Ripple's banking partner relationship Ripple's partnership with financial institutions is also an important factor. Maxi believes that a major partnership announcement can push the value of XRP higher. The more banks Ripple collaborates with, the stronger the position of XRP. Approve XRP ETF Finally, Maxi only points out the possibility of accepting the XRP ETF. Some profiles are being considered by the SEC. If approved, the XRP ETF could attract institutional investors. Maxi sees this as a turning point, similar to the increase in Bitcoin after the ETF is approved. XRP Price Outlook XRP has witnessed a price surge at the beginning of 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 increase continued on the launch day, reaching a peak of $2.73. However, cryptocurrency cannot maintain 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 11%, and in 36 hours, it dropped 15%. This action looks like a classic "sell the news" event XRP surged before the launch of RLUSD and then dropped after the launch. Meanwhile, the possibility of launching ETF is still uncertain. Experts like Bloomberg's Eric Balchunas say that Ripple could be behind other projects, like Litecoin or Hedera, that could be approved first. However, changes in leadership at the SEC could change everything in the future. DYOR! #Write2Win #Write&Earn $XRP {spot}(XRPUSDT)