XRP Projected to Rise 35% After US Election Results

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Rippleā€™s native token, XRP, spiked 5% in the indices on US election day as the results poured in. XRP touched a high of $0.53 and is attracting bullish sentiments in the indices. The broader cryptocurrency market remains in the green, with Bitcoin inching toward a 10% climb. The shift in the market trend is due to the US election, as investors remained on the sidelines before the counting.

Also Read: Elon Musk To Make Donald Trump Talk About Dogecoin?

Apart from Bitcoin Rippleā€™s XRP, Dogecoin spiked the highest as it surged nearly 25% in the charts on the election results day. The spike comes after speculation that Donald Trump could give Elon Musk a cabinet role if elected. This made investors take entry positions in Dogecoin hoping that the cryptocurrency could soon be endorsed by the President-elect.

Also Read: Can US Election Results Propel Bitcoin (BTC) Towards $80K?

Ripple: What is Next for XRP After US Election Results?

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Source ā€“ CryptoRank

Leading on-chain metrics and price prediction firm CoinCodex remains bullish on Ripple XRPā€™s prospects in November. According to the recent price prediction, XRP could continue scaling up in the charts and hit a new monthly high. The latest price forecast estimates that Rippleā€™s native token could surge by nearly 35% after the US election results.

The estimates indicate that XRP could hit a high of $0.715 by the end of November 2024. Therefore, if the forecast is accurate, an investment of $1,000 could turn into $1,350.

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ā€œForecasts for November suggest a shift of the market trend, with a potential price increase to $0.715. Investors may witness a potential gain of 34.28%, if they decide to buy XRP at current prices and sell it at predicted rates,ā€ read the prediction.

Also Read: The Global Shift Beyond De-dollarization to De-Westernization

The US election results also pulled the Asian stock market as Indiaā€™s Sensex spiked 450 points on the opening bell. Japanā€™s Nikkei is up 830 points, and Singaporeā€™s SGX surged 185 points. The cryptocurrency and stock market remain in the green on the day of the US election results.

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