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Home News Crypto

XRP Leads 2024 Crypto Rally on Anticipated Pro-Crypto Regulatory Shift Under Trump Administration

by Team Lumida
December 24, 2024
in Crypto
Reading Time: 2 mins read
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Why Bitcoin’s “Wild Weekends” Are Over: Insights from Kaiko
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Key Takeaways:

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  • XRP price has quadrupled in 2024, reaching $2.26
  • Trump’s nomination of Paul Atkins for SEC chair signals potential regulatory easing
  • Cryptocurrency market showing mixed performance with selective gains
  • Potential resolution of Ripple’s SEC legal battle boosting XRP sentiment

What Happened?

XRP has emerged as the top-performing major cryptocurrency in 2024, rising from $0.60 to $2.26, marking a 400% increase. The surge comes amid broader cryptocurrency market gains, with various tokens showing mixed but generally positive performance. The nomination of Paul Atkins, known for his pro-crypto stance, as the next SEC chair has particularly boosted XRP’s prospects.

Why It Matters?

This dramatic price movement reflects growing investor optimism about cryptocurrency regulation under the incoming Trump administration. Atkins’ potential appointment could signal a significant shift in regulatory approach, particularly regarding the SEC’s stance on digital assets. The possible resolution of the SEC’s legal battle with Ripple could have far-reaching implications for the entire cryptocurrency industry, potentially setting new precedents for token classification and regulation.

What’s Next?

Market attention will focus on the January transition of power and Atkins’ Senate confirmation process. Investors will closely monitor any early signals from the new administration regarding cryptocurrency regulation. Key areas to watch include potential changes in the SEC’s approach to digital assets, the future of the Ripple lawsuit, and broader regulatory framework developments. The market’s response to these changes could set the tone for cryptocurrency performance throughout 2024, with XRP potentially leading indicators of regulatory impact on crypto valuations.

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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018