• Ripple advertisements were seen all throughout Washington as Trump became the new US president.
• Pro-crypto Mark Uyeda has been named as the acting SEC Chair until Paul Atkins is confirmed by the Senate.
• XRP is expected to print massive gains as it is one of the digital assets “made in America.”

Ripple may see significant benefits under the pro-crypto administration of Donald Trump and the new U.S. Securities and Exchange Commission (SEC). Former SEC Chair Gary Gensler has been replaced by acting Chairman Mark Uyeda, with Paul Atkins awaiting Senate confirmation as the permanent chair, according to Reuters.

The ongoing lawsuit between Ripple and the SEC, involving XRP token sales, could take a favorable turn for cryptocurrencies under this new leadership. Previously, the SEC attempted to reverse Judge Analisa Torres’ decision that XRP is not a security when sold to retail investors.

With Uyeda at the helm, Ripple supporters anticipate a more crypto-friendly approach, potentially leading to approval for an XRP-based exchange-traded fund (ETF).

Ripple’s Political Ties and Market Focus

Ripple has a notable history of supporting the Trump administration. The company contributed significantly to Trump’s inauguration fund, outpacing other U.S. crypto firms like Coinbase and Kraken, with donations forming part of the $200 million total. 

Advertisements promoting Ripple have been visible across Washington, fueling speculation that XRP could gain priority as a “Made in the U.S.” altcoin under Trump’s leadership.

Related: XRP Price Prediction for January 21: Market Sentiment and Forecast

XRP Price Analysis: Breakout Possible Despite Recent Drop

XRP is expected to breakout in the near future and is trading at $3.04 at the time of writing, down 2.02% in the past 24 hours because Trump did not mention crypto during his inaugural speech. The digital asset is up 20.05% in the past week and 37.46% in the last 30 days. 

Related: Whales Snap Up 100M XRP, Igniting a Surge and Rewriting Price Trends

XRP’s price action sits in the bullish region of the Bollinger Bands, indicating a potential breakout after a failed attempt earlier this week. The Relative Strength Index (RSI) reads 62.20, highlighting strong demand for XRP and hinting at the possibility of reaching new all-time highs in the near term.