XRP, which has been in a long legal battle with the SEC and whose price has been suppressed in the process, is experiencing a major rally with Trump's victory.
XRP, which has been on the offensive again in recent days, has exceeded $ 3, leaving behind many altcoins including USDT and taking third place just behind Bitcoin and Ethereum.
As XRP races from record to record, Messari analyst claimed that XRP could also surpass the market value of Ethereum (ETH).
Sam Ruskin, an analyst at crypto research firm Messari, argued in his analysis that XRP could surpass Ethereum’s market value, citing the 460% surge in value following the November presidential election and increased investor interest.
“We can easily say that there is no other cryptocurrency that has benefited from this election as much as XRP.
Looking at the price action of XRP and Ethereum over the past year, it’s hard to find a reason to buy Ethereum. Market indicators suggest that interest in XRP is currently higher than interest in ETH. As mentioned, buy when interest is strong, sell when it’s weak.
I also believe there are four potential factors that could push the price of XRP higher in the coming weeks:
Trump's Inauguration Could Rekindle Interest in XRP
ETF Applications: XRP has yet to receive an ETF approval. Given the price increases when ETH, SOL, and BTC announced their ETF applications, a similar impact could occur if XRP receives approval for an ETF.
Capital Gains Tax Policy: Proposed cryptocurrency policies such as the removal of capital gains tax for US companies could increase demand for XRP due to tax incentives. As a US project, XRP could attract capital reallocation due to potential tax advantages.
Coins like XRP, HBAR, XLM, and ADA saw significant price increases shortly after Trump’s election. A similar trend could occur around the inauguration, as it could attract buyers with similar interests and preferences.”
The Messari analyst lastly stated that he expects XRP to surpass ETH after Trump's inauguration, saying, “Assuming that the price of ETH will increase slower than XRP, I expect an additional 35-50% increase in XRP after that.”
*This is not investment advice.
