Cryptocurrency influencer Ben Armstrong (BitBoy) suggests XRP could experience substantial price growth following Donald Trump’s election victory.
He stated that it could particularly happen if the president-elect follows through on his promise to remove SEC Chairman Gary Gensler from office.
If he fires Gary Gensler $XRP might be the coin in the #crypto top 100 that pumps the hardest off of Trump's presidency.
— The BitBoy (@BenArmstrongsX) November 6, 2024
XRP shows positive momentum
XRP has already shown positive momentum amid Trump’s victory, reaching $0.5739, its highest point in 30 days.
This surge aligns with broader market movements, as Bitcoin touched new all-time highs of $76,400 following the election results.
Advertisement
Despite recent gains, XRP has underperformed compared to its peers in the current bull market.
While cryptocurrencies like Solana and BNB have recorded year-to-date gains exceeding 85%, XRP has experienced a decline, leading investors to seek potential catalysts for future growth.
Many XRP supporters attribute the token’s underwhelming performance during the 2021 bull run to SEC Chairman Gensler’s regulatory approach and the subsequent lawsuit against Ripple.
According to BitBoy, XRP could be among the top 100 cryptocurrencies to “pump hardest” if Trump follows through on his campaign promise to dismiss Gensler on his first day in office.
Some enthusiasts draw parallels to XRP’s historic 2017 performance, which saw a remarkable 75,000% price increase in a single year.
Advertisement
They suggest that Gensler’s removal could trigger similar explosive growth, despite XRP already having achieved regulatory clarity through its legal victory.
