XRP’s recent rise from USD 0.5 to over USD 2.50 caught many off guard. But if you look at the monthly chart, you'll see a steady 400% increase after Trump's election. President Trump’s pro-crypto stance and potential changes at the SEC are most likely behind the rise in XRP. Analyst Miles Deutscher suggests that the next gains could come from AI projects and utility coins such as DePIN.
XRP recently caught many off guard by rising from US$0.50 (AU$0.77) to currently just over US$2.50 (AU$3.87). But to be fair, it's all a matter of perspective and depends on how you view the rally.
As Australian crypto analyst Miles Deutscher tweeted here, looking at XRP's historical charts, you might get the impression that this came out of nowhere and was a big surprise.
10 years $XRP The chart is one of the strangest in cryptocurrencies.
The most ridiculous megapump came out, followed by a megadump, and then nothing for years.
For the sake of the industry, I hope this rally looks more like 2021 than 2018. pic.twitter.com/TQxzqPrTbL
— Miles Deutscher (@milesdeutscher) December 3, 2024
Slow and steady XRP rises more and more
If we zoom out a bit and look at the monthly chart, we can see that XRP has been steadily rising, increasing by 400% since the election of President Donald Trump. The reason why the crypto market is bullish is very clear. President Trump has publicly expressed support for cryptocurrencies, and there are predictions that Gary Gensler's reign at the US Securities and Exchange Commission (SEC) could soon end.
Related: XRP rises 90% last week, solidifies third place with market cap of $154 billion
President Trump also promised Bitcoin reserves. This is an important move that should not be underestimated. If the US were to actually purchase Bitcoin and hold it as a national treasury asset, it would certainly impact the long-term price trajectory of Bitcoin, and countries around the world would There could be FOMO to buy and perhaps the beginning of a bull market like no other.
For example, Brazil has already announced plans for a national Bitcoin reserve.
Reserve effects aside, there was always the possibility that President Trump's second term would have a bigger impact on altcoins than on Bitcoin. After all, Bitcoin is legally clear and is probably the only crypto asset to do so, aside from Ethereum and of course XRP.
In other words, you can kind of understand why XRP has been rising for over a month. Many of them are based on legal concerns about Ripple, which will likely fade away. Although nothing is certain yet, there are rumors that SEC Chairman Paul Atkins may resign from his position in favor of a crypto pro.
XRP, monthly chart, source: CoinMarketCap
This is the next big gainer, Deutscher says.
So what should you do if you miss the XRP rally?
Apart from meme coins, Deutscher believes that the best performers in the future could be AI-related projects or practical coins such as DePIN (Decentralized Physical Infrastructure Network).
Source: Miles Deutscher via YouTube
Related: Chainlink launches collaboration with Europe's first tokenized securities trading system
Coins that analysts are paying attention to include CHEX, LINK, Arweave, and AIOZ, but don't rotate them too much as chasing shiny objects and the latest trends can lead to overtrading. is not recommended. So analysts recommend holding “high quality” stocks instead.
In a bull market, overtrading is the enemy.
Don't chase hot shiny objects.
The stronger the story and fundamentals, the more likely it is to end up being exciting.
Buy high quality dips that you like. Please wait. be patient. Profit from ripping.
Don't make it too complicated.
— Miles Deutscher (@milesdeutscher) December 3, 2024
And of course, as always, it's important to do your own research. In another post, Deutscher revealed that he has also personally started rotating into stablecoins.
